HealthAtom aims to become the go-to cloud-based operations system for small and medium-sized healthcare companies in Latin America (LatAm). Although the company has been around since 2012, this is the first time it has announced new capital in the amount of $10 million.
HealthAtom’s Medilink and Dentink software suites let clinics create schedules, manage electronic health records, handle inventory, manage payroll, and provide budget breakdowns and regulatory filings. They also have telehealth capabilities that allow patients to access their records on a mobile device.
Providers will contact HealthAtom with information about the size of their operation and their needs and wants. After consultation, a plan will be set up and information can be transferred to the cloud platform, following local regulations. According to the founders, a clinic can be up and running on the system within 3 hours.
A clinic can pay anywhere from $20 to $20,000 monthly, depending on the size of the operation and local regulations. Today, HealthAtom has close to 6,500 customers in 20 countries with main operations in Chile, Colombia and Mexico. Additionally, 50,000 doctors and dentists use the company’s services and process more than 42 million appointments annually.
“We are the point where sales stress on an information level,” said co-founder and CEO Roberto Leon in an interview with TechCrunch (conducted in Spanish and translated by the author). “This is a tool that can move beyond SaaS and transform us into a technology solution in which the entire ecosystem is integrated to increase transparency of healthcare processes.”
According to a report by McKinsey Global Institute, digital adoption within the healthcare system in LatAm has catered to large hospitals and neglected small and medium businesses. Additionally, the offerings available to SMBs are often less affordable and do not provide what the clinic needs. HealthAtom wants to be a part of the solution by becoming a “one-stop-shop” for small and medium sized healthcare clinics to run their operations.
Although some local and country-specific companies are providing similar services, HealthAtom remains the only LatAm-wide provider. Although the company offers a continental outreach, the founders told TechCrunch that it has been a challenge to meet each country’s regulations.
“There is regulation and compliance about how things are signed, how information is stored, how certain health data must be recorded,” said co-founder and CPO Daniel Guajardo. “All of these have country-to-country variations and these 10 years of bootstrapping, have allowed us to be able to focus on a very regional product.”
HealthAtom has raised $10 million Series A backing led by Kayak Ventures, with participation from FJ Labs, SOMA, Amador, Taram, and Angels (number).
Funding from this round will go toward incorporating embedded payments into its software, building partnerships with insurance companies, and developing a loan program for patients.