Proper access to medical care is a huge issue in the Philippines, especially with our poor public health systems. Most workers rely on their company’s HMO and even then, services vary widely from plan to plan. It’s not uncommon for ordinary workers to skimp on their health simply because they lack the capacity for a lump sum payment.
In an effort to bridge the Filipino working class’ financial situation to their healthcare needs through a closed loop, revolving healthcare credit line, SureServ, the country’s first microfinancing mobile, app was officially launched to the media last February 24, in Lola Café in Tomas Morato, Quezon City. SureServ provides corporate groups and businesses a revolutionary and convenient access to quality healthcare.
First conceptualized in 2020 by president and founder Johnny Bondoc, a 25-year veteran in the Fast Moving Consumer Goods (FMCG) industry, Bondoc decided to become an entrepreneur and team up with SureServ co-founders Jerwin Lavilles, Don Tuazon, JM Aujero, and Atty. Marvin Aceron. Armed with decades of experience in the fintech and distribution industries, the co-founders were able to identify some of the biggest issues of healthcare in the Philippines.
“In spite of the gains made in healthcare, significant pain points remain in three major areas: clinic/hospital services, medicine purchases and vaccination. Penetration is extremely low.” Bondoc claimed. “Coupled with the not-too-bright situation of the financial services sector, the team found it appalling that even the supposedly capable middle working-class people are not able to fully avail of their desired health care services.”
SureServ’s solution was to create a system of closed loop lending that allowed app users to access medicines, vaccines, clinic services and diagnostics in partner clinics, hospitals, and pharmacies when a lump sum of cash isn’t readily available.
“In digitizing the borrowing process while focusing on the all-important health care sector, the SureServ app is a concrete platform that can uplift our kababayans’ health care and financial situation,” Bondoc explained.
So far, SureServ has garnered rapid success in their corporate accounts since its initial outing in 2022. Employees have been using the app extensively since being utilized by their companies. According to SureServ’s data, 50% of users from the previous month would continue to make new transactions in the succeeding month. Streamlined processes for both the employee and the company have been key to this retention.
“Members’ steady payment through salary deduction has encouraged us to focus on corporate accounts for now. This led us to modify the registration process for these employees under the corporate account umbrella, wherein, there is now a bulk registration process initiated by the HR/admin dept of the employer. All the employee needs to do is sign in using the nominated username and password, which they could still change for security purposes,” said Bondoc.
It’s this digitized and streamlined process to healthcare that has empowered SureServ’s significant growth. It started out with 300 members, but has since secured service contracts with 25 companies. These corporate accounts have allowed SureServ to cater to over 2,500 workers.
“We have another 22 companies in the pipeline with over 24,000+ employees combined. We expect to have over 50,000 members by year end 2023,” Bondoc added.
This userbase growth is accompanied by expanding partnerships. SureServ’s started out with drug stores South Star Drug, Rose Pharmacy, MedExpress, and Mediclick. Watsons will be coming on board by the second quarter, with other drug store chains expected to join down the road.
The same expansion is being experienced in their clinic and hospital partnerships. SureServ is currently partnered with Aventus Medical Care, HealthCube Medical Clinics, MyHealth Clinic, and New World Diagnostics. Moreover, its recent and successful partnership with Capitol Medical Center will allow SureServ to eventually partner up with 22 other hospitals under the Mount Grace network.
Considering SureServ has only been operating for a year, its development in the healthcare and fintech industries will be something to watch out for.