In a groundbreaking move to reshape healthcare access for Small and Medium-sized Enterprises (SMEs) in the Philippines, digital health insurance startup Hive Health has acquired Health Plan Philippines, Inc. (HPPI), a pioneering Health Maintenance Organization (HMO) service provider with 37 years of industry expertise.
This strategic acquisition positions Hive Health to leverage its technology and data-driven innovations for the benefit of HPPI’s existing members. The collaboration also allows Hive Health to integrate HPPI’s extensive nationwide provider network and institutional knowledge, fostering a comprehensive transformation of the patient experience across virtual and in-person care.
“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. 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,” according to Camille Ang, Co-Founder and CEO of Hive Health.
Functioning as a full-stack digital health insurer, Hive Health specializes in providing hassle-free, comprehensive HMO health plans tailored for SMEs and startups. The plans cover outpatient, inpatient, emergency, and dental care through a vast nationwide network of 1,700 hospitals and clinics, featuring over 60,000 doctors.
Hive Health’s digital platform empowers members to effortlessly manage their own care and that of their dependents. This includes tasks such as requesting approval letters within minutes, eliminating the need for lengthy hospital queues. Members can also conveniently view plan benefits, locate nearby healthcare providers, schedule annual physical exams, and access medical records, all from their mobile devices or computers. The company boasts fast out-of-network reimbursements within 3-5 days and offers exclusive wellness perks to its members.
“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,” said Jiawen Tang, President and Co-Founder of Hive Health.
Inclusivity and accessibility are at the core of Hive Health’s mission. The company actively promotes inclusivity for minorities such as LGBTQIA+ and domestic partners, offering essential benefits like mental health services, medicine, preventive care, and maternity care.
For small business owners and HR managers facing limited bandwidth for administrative tasks, Hive Health’s HR dashboard simplifies onboarding and offboarding, streamlines invoicing, and enables businesses to promote employee engagement and wellness.
Hive Health’s journey began with the personal experiences and challenges encountered during the COVID-19 pandemic. Co-founders Ang and Tang, pursuing dual MBA and MPA in International Development degrees at Harvard and Stanford during the pandemic, were driven to address the gaps in healthcare accessibility and affordability in the Philippines. Their dedication earned them accolades from esteemed institutions like Harvard, Stanford, and MIT, including the grand prize at the Harvard New Venture Competition.
Supported by leading global venture capital firms, including YCombinator, the premier tech accelerator in Silicon Valley, Ang and Tang transformed their vision into action in 2021. With a resolute commitment to making quality healthcare accessible to all, Hive Health is on a mission to ensure that Filipino employees receive the best possible care through their innovative and transformative health plans.