Nigerian health-tech startup to offer digitized loans to hospitals across Africa

Helium Health is launching a new product that could see several hospitals across Africa get loans to improve their facilities.

Helium health to loan hospitals

Helium Health, a Nigeria-based health-tech startup, is set to start offering hospitals across Africa access to loans.

Through the new venture, Helium Health targets hospitals experiencing problems funding development due to a lack of external financing. Although money lenders are reluctant to offer loans to hospitals because of several risk factors, the Lagos-based startup believes its product could make a huge impact in the health sector.

Transforming health care through CareCredit

Helium Health is set to introduce a Hospital Management Information System (HMIS) which will capture and store a patient’s data as well as other hospital records.

Moreover, the startup would also manage the financial records in the hospitals. Helium Health raised $10million and intends to launch a digitized loan to hospitals, dubbed CareCredit.

CareCredit would be integrated together with the HMIS system to monitor each hospital’s revenues and expenses. With this knowledge, the startup can gauge the hospital’s financial need and loan ability.

The good thing is that the loan re-payment schedules are friendly don’t require collateral.

Helium Health uses its technology to digitize health management systems, transforming hospitals by removing conventional paper file records.

It is noteworthy that a patient’s data in most hospitals in Africa is captured on paper and is only accessible in the hospital they visit. This means that a doctor in a different hospital cannot get the same patient’s data. With digital data, this problem will be solved.

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