Docosan Secures $1 Million Seed Funding to Revolutionize Healthcare Access in Vietnam

Docosan, a company headquartered in Ho Chi Minh City, is streamlining the process of finding and booking doctors through its mobile application. The company recently announced the successful completion of a seed funding round exceeding $1 million. This represents, according to Docosan, one of the most substantial seed investments received by a Vietnamese health tech startup to date.

Investment Details and Company Background

AppWorks, a Taiwan-based venture capital firm and accelerator, spearheaded the investment. Additional participation came from David Ma and Huat Ventures. Founded in 2020, Docosan has quickly gained traction, facilitating bookings for approximately 50,000 patients.

Currently, the platform features a network of over 300 healthcare professionals. These providers encompass a wide spectrum of specialties, from pediatricians in smaller clinics to neurosurgeons practicing within larger private hospitals. Co-founder and CEO Beth Ann Lopez shared this information with TechCrunch.

Addressing the Challenges of Healthcare Access in Vietnam

Lopez explained that pre-scheduled doctor appointments are not standard practice in Vietnam. Individuals seeking private healthcare often face a challenging landscape. They must navigate a vast network of over 30,000 private hospitals and clinics, characterized by significant price and quality discrepancies.

Consequently, personal recommendations from family and friends are frequently relied upon when selecting a healthcare provider. This often leads to lengthy wait times upon arrival at a hospital or clinic, sometimes extending for hours.

Docosan’s Solution and Key Features

Docosan empowers users to efficiently search for providers based on criteria such as location and specialization. The app also provides transparent pricing information and access to verified patient reviews.

Recent enhancements include integrated online payment options and insurance compatibility. The company, an alumnus of Harvard’s Launch Lab X, is also planning to introduce telehealth and pharmacy services in the near future.

Benefits for Healthcare Providers

For medical professionals utilizing the app, Docosan offers software designed to optimize appointment scheduling and minimize patient wait times. This feature proved particularly valuable during the COVID-19 pandemic, as many patients were hesitant to congregate in crowded waiting areas.

Furthermore, the platform reduces the administrative burden on doctors, freeing up more time for direct patient care. This includes streamlining marketing and administrative tasks.

Future Expansion Plans

The startup has ambitions to extend its services to other countries. “Docosan presents a viable solution in any region with a large and fragmented private healthcare sector,” stated Lopez. “Our goal is to create a world where finding a qualified doctor is as simple as ordering a ride with Grab.”

AppWorks’ Perspective

Andy Tsai, a partner at AppWorks, commented in a press release, “We recognized Docosan’s potential early on through their participation in the AppWorks Accelerator. The founders demonstrated a strong commitment and deep understanding of the healthcare challenges in the region. We are pleased to support Docosan’s mission to improve healthcare accessibility for everyone.”