Digital health insurance startup Hive Health recently announced the acquisition of Health Plan Philippines, Inc. (HPPI), one of the pioneering health maintenance organization (HMO) service providers in the country.
The acquisition allows Hive Health to share its technology and data-driven innovations with HPPI’s existing members while also integrating HPPI’s nationwide provider network and institutional knowledge with its core capabilities. With HPPI’s capabilities built across 37 years of experience, the acquisition is expected to further redefine the patient experience across virtual and in-person care.
Founded in 2021 by Harvard and Stanford alumni Camille Ang and Jiawen Tang, Hive Health provides seamless and all-encompassing HMO health plans tailored for SMEs and startups. These plans cover outpatient, inpatient, emergency, and dental care, offering access to a vast network of 1,700 hospitals and clinics nationwide, along with over 60,000 doctors across the country.
In the past, Hive Health achieved the grand prize at the Harvard New Venture Competition while also receiving support from leading venture capital firm Y Combinator.
“We have just begun the hard work of making healthcare radically more accessible. The goal is for all Filipinos to feel secure that their health is taken care of, and to give employers a sustainable way to take part in making that happen,” stated Ang. “Hive Health’s journey to date, especially with the acquisition of HPPI, marks a significant milestone, not just for our company but also for the Philippine startup landscape. It underscores the potential of startups like Hive Health to shrink the change and make an impact on intractable problems.”
“We started Hive Health with the mission to make healthcare more accessible in the Philippines and in many other developing countries where social safety nets are capped. Our goal is to leverage tech and data to make quality healthcare more affordable and easier to use, especially for the underserved SME segment,” added Tang.
Many of Hive Health’s services focus on expediting the care-seeking process. For example, Hive Health’s digital platform empowers users to efficiently manage healthcare tasks from their phones or computers, such as approval requests, viewing plan benefits, finding providers, scheduling exams, and accessing records. Hive Health also provides on-demand video teleconsultations through its in-house electronic medical records system. Finally, the startup advocates heavily for inclusivity for diverse groups, including LGBTQIA+ and domestic partners, carrying essential benefits such as mental health, medicine, preventive care, and maternity care.
For small business owners and HR managers, Hive Health offers a simplified HR dashboard streamlining processes such as onboarding, offboarding, invoicing, and employee engagement.
Hive’s impact is already being felt by SMEs across the country. InvestEd CEO Carmina Bayombong notes “Our employees are super happy. They tell me that they never want to go back to these brick and mortar HMOs. I myself experienced this—I first tried to line up for a Letter of Authorization (LOA) in the hospital but decided to test Hive’s in-app LOA feature while in line. I was so shocked that it came even before it was my turn in line, while other HMOs take 3 days. I ended up saving both time and money.”