HealthAtom aims to be the cloud-based operating system for small and medium-sized healthcare companies across Latin America (LatAm). Although the company has been around since 2012, this is the first time it has announced new capital, at $10 million.
HealthAtom’s medilink and dentalink software packages allow clinics to create schedules, manage electronic health records, manage inventory, manage payroll, and provide budget breakdowns and regulatory filings. They also have telehealth capabilities that allow patients to access their medical records on a mobile device.
The supplier will contact HealthAtom with information about the size of their operations and their needs and wishes. After a consultation, a plan will be established and information can be transferred to the cloud platform according to local regulations. According to the founders, a clinic can have its operations up and running on the system within 3 hours.
Depending on the size of the operation and local regulations, a clinic can pay anywhere from $20 to $20,000 monthly. Today, HealthAtom has close to 6,500 customers in 20 countries with main operations in Chile, Colombia and Mexico. In addition, 50 thousand doctors and dentists use the company’s services and process over 42 million appointments annually.
“We are the point where the sales tension occurs, at the level of information,” said co-founder and CEO Roberto León in an interview with TechCrunch (conducted in Spanish and translated by the author). “It’s a tool that can transcend SaaS and transform us into a technology solution that has the entire ecosystem integrated to increase the transparency of healthcare processes.”
According to a report conducted by the McKinsey Global Institute, digital adoption in healthcare in LatAm has favored larger hospitals and neglected small and medium-sized businesses. In addition, offers available to small and medium-sized businesses are often less affordable and do not provide what a clinic needs. HealthAtom wants to be part of the solution by being a “one-stop-shop” for small and medium-sized health clinics to run their business.
Although there are some local and country-specific companies that offer similar services, HealthAtom remains the only LatAm provider. Although the company offers a continental reach, the founders told TechCrunch that meeting all countries’ regulations has been a challenge.
“There’s regulation and compliance around how things are signed, how information is stored, how certain health data should be recorded,” said co-founder and CPO Daniel Guajardo. “All this has variations from country to country and has allowed us, during these 10 years of bootstrapping, to be able to focus on having a very regionalized product.”
HealthAtom has received backing in the form of a $10 million Series A led by Kayyak Ventures, with participation from FJ Labs, Soma, Amador, Taram and a (number) of angels.
This round of funding will go towards incorporating embedded payments into the software, forming partnerships with insurance companies and developing a loan program for patients.