HealthAtom is aiming to be the go-to cloud-based operations system for small and midsize healthcare companies across Latin America (LatAm). Although the company has been around since 2012, this is the first time it has announced fresh capital, in the amount of $10 million.
HealthAtom’s medilink and dentalink software suites let clinics create schedules, manage electronic health records, handle inventory, administer payroll and provide budgeting breakdowns and regulatory filings. They also have telehealth capabilities that allow patients to access their records on a mobile device.
The provider will contact HealthAtom with information on the size of their operations and their needs and wants. After a consultation, a plan will be established and information can be transferred to the cloud platform, adhering to local regulations. According to the founders, a clinic can have its operations up and running on the system within three 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 clients across 20 countries with main operations in Chile, Colombia and Mexico. Additionally, 50,000 doctors and dentists use the company’s services and process over 42 million appointments yearly.
“We are at the point where the sales tension occurs, at an information level,” said co-founder and CEO Roberto León in an interview with TechCrunch (conducted in Spanish and translated by the author). “It is a tool that could transcend beyond the SaaS and transform us into a technology solution that has the whole ecosystem integrated to increase the transparency of health processes.”
According to a report conducted by the McKinsey Global Institute, digital adoption within healthcare systems in LatAm has catered to larger hospitals and disregarded small and medium businesses. Additionally, offerings available to SMBs are often less affordable and don’t provide what a clinic needs. HealthAtom wants to be a part of the solution by being the “one-stop shop” for small and midsize healthcare clinics to run their operations.
Although there are some local and country-specific companies providing similar services, HealthAtom remains the only LatAm-wide provider. Though the company provides a continental outreach, the founders told TechCrunch it has been a challenge to cater to every country’s regulations.
“There is regulation and compliance regarding 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 country-to-country variations and has allowed us, in these 10 years of bootstrapping, to be able to focus on having a very regionalized product.”
HealthAtom has garnered support 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’s funds will go toward incorporating embedded payments in its software, forming partnerships with insurance companies and developing a loan program for patients.