SINGAPORE: Health startups in Singapore are tapping emerging digital technologies such as artificial intelligence (AI) to drive expansion even as the sector faces mixed growth post-pandemic.
Dejan Dukaric, chief technical officer of Singapore-based telehealth startup Doctor Anywhere, noted that the pandemic accelerated the adoption of telemedicine and related digital technologies by at least five years.
“Telehealth is now a mainstream service and is widely available in many countries, becoming the preferred method for seeking primary care due to the convenience and accessibility it offers,” he told The Straits Times.
Healthcare startups like Doctor Anywhere use digital tools and emerging technologies to create alternative and more efficient ways to deliver care to patients.
A 2023 ranking of the 100 fastest-growing firms in Singapore compiled by The Straits Times and data company Statista noted that Doctor Anywhere recorded an absolute growth rate of more than 10,000%.
The firm doubled user numbers, from 1.25 million in 2022 to about 2.5 million this year, with revenue surging from S$291,000 (RM1mil) in 2018 to S$31.9mil (RM111mil) in 2021, largely due to its expansion to other countries in the region, such as the Philippines and Malaysia.
Government support is also helping to boost the adoption of telehealth services here.
Singapore’s Health Ministry moved in 2020 to allow Community Health Assist Scheme subsidies and MediSave to be used to pay for regular follow-ups via video consultation for seven chronic conditions under the Chronic Disease Management Programme (CDMP).
The time-limited extension was expanded later that year to support video consultation for the regular follow-ups of all 20 chronic conditions under the CDMP.
Apart from telehealth solutions, healthcare startups here are also using emerging technologies such as AI to explore new frontiers in areas such as cancer treatment, chronic disease management and claims processing.
Hugo Saavedra, chief executive of healthcare startup Kyan Technologies, said: “Our team is partnering with the clinical community to find more efficient ways to treat cancer patients by pioneering the use of small data AI in cancer treatment and research.”
Kyan Technologies raised US$5mil (RM23mil) last October in an oversubscribed pre-series A funding round led by Altara Ventures.
Last month, the firm received licensing approval from the Health Ministry for its clinical laboratory, allowing it to introduce an AI-powered precision medicine test that supports oncologists treating cancer patients.
Dr Ramesh Rajentheran, chief executive and co-founder of MiyaHealth, said AI is not about replacing human doctors: “If you really need to see a doctor, you really need to see a doctor. There is no substitute for that.
“But for simple things like a cold or a chronic illness that can be monitored and managed by the patient, then yes, that is where AI comes in handy.” — The Straits Times/ANN
