Egyptian health tech Yodawy raises $16M, backed by Delivery Hero Ventures

News Summary

  • As trivial as that might sound, this affects every player in that value chain, from issues ranging from prescription errors to long processing times and queues at pharmacies and hospitals.Yodawy’s platform allows insurance companies and hospitals to automate approvals, save costs and improve customer experience.
  • The Giza-based health tech upstart, which employs a B2B2C model, has partnered with 20 health insurance companies and 500 doctors, and 3,000 pharmacies have processed over 4 million prescriptions via individuals in these corporates.
  • But Khashaba argues that Yodawy is the only full-fledged pharmacy benefit manager powered by tech that manages the end-to-end prescription cycle — whether creating an e-prescription gateway for hospitals and doctors or an approval automation engine for insurance companies — and handles fulfillment.What Yodawy lacks, however, is last-mile capabilities.
  • The company’s revenue has grown by 400% since its last priced round 18 months ago.“The medication value chain is quite complex, and being able to streamline the process required us to build it [and] additional products for insurance companies and doctors.
  • They built an infrastructure that accommodates the services of its partners — insurance companies, medical providers, pharmacies, and pharmaceutical/FMCG companies — and connects them with business clients and individuals.Here’s one instance that highlights the problem every Yodawy stakeholder faces.
  • Meanwhile, Yodawy recently launched a flagship e-prescription gateway that lets physicians go paperless, with seven insurance companies and health management organizations participating in the program, resulting in more than 2,000 e-prescriptions generated daily.
Without proper governmentled public health initiatives, healthcare expenditures, including insurance and pharmaceutical drugs, can burden individuals and households. In recent years, private institu [+6353 chars]