Flash Health Raises US$200,000 to Innovate Cashless Outpatient Care

Sri Lankan healthtech startup Flash Health marked a significant milestone by raising US$200,000 in seed funding with nVentures as the lead investor. The money will provide the digital platform of Flash Health with the necessary tools to be more efficient and affordable in outpatient care.

Flash Health’s flagship offering is titled Cashless OPD. It includes outpatient consultations, medicines, diagnostic tests, and telemedicine services for employees, policyholders, and patients who do not use their own money to make the initial payment at the health facility. Instead, the platform directly bills the insurers, employers, or healthcare providers that cover the cost for these services.

The round of funding saw the participation of angel investors from Sri Lanka and is indicative of the healthtech solutions that daily healthcare can be made more accessible and efficient and hence, investor’s growing interest in such innovations. Flash Health intends to make insurance companies, major employers, and healthcare providers its partners with this new funding and eventually, its goal is to have the most widely used outpatient health services platform in the region.

Cashless payment systems are very inviting as they not only improve accessibility for patients but also ease the process involved in dealing with the administration for payers and providers. From the employer’s point of view, this translates into lesser barriers for employees to get the care they require on time, thus, reducing long-term health costs and increasing the productivity of the workforce. Insurers enjoy an easier claims processing and better control of costs.

Flash Health’s model incorporates telemedicine as well, which has been a way out of the pandemic for most patients and doctors actually adopted the new way of communicating with patients very quick. The platform allows patients to have remote consultations, thus they have to visit the clinics for non-urgent matters.

The start-up investors have high hopes for the fusion of the digital and the traditional healthcare services. Flash Health is taking a firm stand by focusing on cashless solutions, thus putting itself at the intersection of patient convenience and insurer efficiency. The extra funds will be utilized for product development, team expansion, and market penetration through both existing and new partners.

This series A funding has marked a landmark event for not only Flash Health but also the whole health tech industry of Sri Lanka. This is a clear indicator that there exists a trust that digital platforms can ease the access, lower the costs and bring the outpatient care delivery to the modern times.