Vietnam: The next battlefield for healthcare platforms in Asia

MyDoc and BaoViet management

It is clear that Vietnam is going to be the next battlefield for healthcare platforms in Asia.

Following Singapore-based telehealth start up Doctor Anywhere’s deal in September with Bao Minh Insurance, rival MyDoc is now collaborating with BaoViet Group Insurance to offer a cashless digitally integrated clinic service to its health insurance policyholders.

“We are simplifying the health insurance claims process and tackling the shortage of healthcare capacity by reducing hospital readmissions,” said MyDoc chief executive and co-founder Snehal Patel.

His clinical research teams use anonymised clinical data points to identify disease patterns and their treatments. “We enable market-leading providers like BaoViet to give patients the right care at the right time and keep them out of hospitals,” he added.

The service will be rolled out in phases, with locally licensed doctors from clinical partner DHA clinic group and a major multichain pharmacy. Policyholders will be able to access digital concierge and healthcare services on their mobile telephones, including doctor consultations and electronic prescriptions, in English and Vietnamese.

Currently, Vietnam is reported to have the highest medical inflation rate in Asia at 14.2%, according to Mercer. By 2021, the country is expected to spend US$22.7bn on healthcare, which represents a 12.5% increase from US$16.1bn in 2017.