The cost of healthcare has increased in Malaysia every year. One of the things that companies offers in employment packages nowadays is healthcare benefit to take care employees’ welfare. However, managing the healthcare benefit is often a time consuming and onerous process for corporations as it involves a lot of manual work. Health Metrics is here to tailor healthcare solutions for corporations, employees and healthcare providers so that every party involved can focus less on the process and emphasize on substantive work.
Health Metrics, where healthcare and business converge, is really a macrocosm of its founder Alvin Yuan who completed training in medical science but has a strong interest in business, finance and economics.
“I found that it is very hard to marry money and healthcare unless you are a conglomerate. Rewards are really huge in this sector but extremely difficult business to be in. Therefore, you have to find the right formula and the magic formula of healthcare is in corporate segment”.
Alvin realizes that corporations often have difficulties in managing health care benefits for employees as they face problems that include long standing and fake claims as well as late medical certificate (MC). Late reimbursement to staff may demotivate the workforce while fake claims and MC may be costly for corporations as they have to pay for benefits that are not there to begin with.
When employees go to clinics for treatment, they have to obtain paper MC from the doctor before submitting it to the superior or Human Resource (HR) department. In terms of payment, employees conventionally have two options, either to display their medical card or to pay first and then claim later. Pay-and-claim method is very tedious task and time consuming as it needs to go through layers of approval (superior, HR and Finance) before staff are reimbursed.
Health Metrics is here to simplify the process and replace the manual work by using digital solution. It is essentially an integrated platform where corporations and employees have a single source of truth for healthcare related matters.
On the employer side, it can outsource the function of managing claims and healthcare benefit to a company that does not only have an in-depth understanding of the healthcare business, but also have the business and technical acumen to simplify the task at hand. Employees also do not have to worry about misplacing MCs anymore as the document can be sent directly and digitally from the clinics on Health Metric platform. They can also go cashless in their payment as medical bills are charged directly to the corporations until a certain threshold is triggered.
Healthcare providers can also benefit from Health Metrics. Clinics already have the problem of being signed up as a panel for corporations. On top of that, doctors also have to worry about accounting and chase late payments, which are not their strong suit. Health Metrics provides an opportunity for clinics to advertise their services to the corporations that are already on the latter’s platform while outsourcing the accounting job to Health Metric and focus on what doctors do best; provide medical services to the patient.
Health Metrics brings tangible and intangible savings for corporations, employees and healthcare providers. The number of corporate clients and healthcare providers (200 and 1500 respectively at the time the article is published) that they have speaks volumes about the need and reliability of their platform. An apple a day may keep the doctors away but Health Metrics keep everyone’s worries away.