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A vibrant health tech startup scene has emerged in Brazil to tackle the country’s ballooning healthcare costs, according to TechCrunch.

With more than 250 health-focused startups, Brazil’s emerged as the epicenter of the Latin American health tech market — healthcare tech was the second-fastest growing sector in Latin America in 2017 with a 250% year-over-year increase in the number of deals.

The rise of Brazilian health startups is fueled partly by inefficiencies in the country’s healthcare system. Brazil’s healthcare costs have doubled in the past five years, and private healthcare spending has spiked to more than $42 billion annually. Moreover, over $18 billion is wasted each year due to healthcare inefficiencies. Brazil ranks 51 out of 56 in Bloomberg’s health-efficiency index, which tracks medical costs and value for economies meeting a minimum lifespan and GDP requirement.

Healthcare companies are expanding their digital footprints to address industry shortcomings in the region:

Telemedicine companies are filling the gaps in care created by an overburdened public health system. About 75% of …read more

Source:: Businessinsider – Technology

      

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