AVN 47.41 Increased By ▲ 0.76 (1.63%)
BAFL 28.76 Increased By ▲ 0.26 (0.91%)
BOP 3.76 Increased By ▲ 0.05 (1.35%)
CNERGY 3.15 Increased By ▲ 0.02 (0.64%)
DFML 11.06 Increased By ▲ 0.37 (3.46%)
DGKC 53.54 Decreased By ▼ -0.15 (-0.28%)
EPCL 42.65 Increased By ▲ 0.10 (0.24%)
FCCL 12.39 Increased By ▲ 0.26 (2.14%)
FFL 6.02 Increased By ▲ 0.09 (1.52%)
FLYNG 5.90 Decreased By ▼ -0.09 (-1.5%)
GGL 10.14 Increased By ▲ 0.24 (2.42%)
HUBC 69.42 Increased By ▲ 0.82 (1.2%)
HUMNL 5.80 Increased By ▲ 0.15 (2.65%)
KAPCO 22.12 Increased By ▲ 0.22 (1%)
KEL 1.81 Increased By ▲ 0.03 (1.69%)
LOTCHEM 29.01 Increased By ▲ 0.61 (2.15%)
MLCF 28.69 Increased By ▲ 0.24 (0.84%)
NETSOL 74.08 Increased By ▲ 1.68 (2.32%)
OGDC 78.45 Increased By ▲ 2.95 (3.91%)
PAEL 9.29 Increased By ▲ 0.09 (0.98%)
PIBTL 4.25 Increased By ▲ 0.01 (0.24%)
PPL 61.57 Increased By ▲ 3.56 (6.14%)
PRL 14.36 Increased By ▲ 0.28 (1.99%)
SILK 1.10 Decreased By ▼ -0.01 (-0.9%)
SNGP 43.38 Increased By ▲ 2.63 (6.45%)
TELE 6.88 Increased By ▲ 0.29 (4.4%)
TPLP 11.93 Increased By ▲ 0.23 (1.97%)
TRG 95.07 Increased By ▲ 1.27 (1.35%)
UNITY 13.21 Increased By ▲ 0.18 (1.38%)
WTL 1.16 No Change ▼ 0.00 (0%)
BR100 4,166 Increased By 34.9 (0.85%)
BR30 14,403 Increased By 325.8 (2.31%)
KSE100 41,668 Increased By 315 (0.76%)
KSE30 14,798 Increased By 134.3 (0.92%)
Technology

The Health Bank, profitable in all markets, wants to double down in Pakistan

  • Global head of strategy Zarmina Jafar says access to healthcare digitally can be cost-effective for many patients
Published December 22, 2022
<p>Photo: courtesy The Health Bank</p>

Photo: courtesy The Health Bank

Follow us

KARACHI: The Health Bank (THB), a tech-enabled provider of healthcare services, is profitable in all its markets including Pakistan, said its co-founder and global head of strategy Zarmina Jafar.

The Singapore-headquartered company, which caters to Pakistan’s highly underserved healthcare sector among its other markets, offers at-home, personalised, and remote healthcare services.

“Many times, there isn’t a need to visit the hospital for certain illnesses,” Jafar told Business Recorder in an exclusive interview. “Our model provides hospital-level care and remote monitoring while you’re at home. This makes it possible to manage recovery, and general treatment."

Pakistan’s healthcare sector remains a neglected area with the number of hospitals, doctors and beds per 1,000 people much lower than the global average. The coronavirus pandemic brought to light the country’s shortcomings with the surge in number of cases bringing Pakistan’s weak infrastructure to its knees.

Pakistan Medical Association (PMA) Secretary General Dr Qaiser Sajjad said Pakistan’s healthcare sector is in a very bad state.

“We are much behind than our regional peers – Sri Lanka, India and Bangladesh – and our population is growing at a fast rate,” Sajjad said.

With a crippled healthcare system, dilapidated road infrastructure poses additional problems as it makes commute time to and from a healthcare centre much longer. The problem is especially acute in Pakistan's rural areas.

Jafar said THB looks to solve this problem.

Jafar, who has an academic background in economics and policy-making, in 2016 identified the demand for tech-enabled and patient-centric healthcare management. She later became part of the founding team at THB, and is now also the Pakistan CEO.

THB has regional offices in Dubai, Kuwait and Karachi, and was valued at $100 million earlier. However, Jafar said the fund-raising process currently underway would put the company at a higher valuation, refraining from giving numbers.

THB, which currently has presence in Karachi and Lahore, features multidisciplinary teams including nurses, doctors, physiotherapist, nutritionists and diabetes educators.

“We have a growth model. The potential for healthcare in the region is very high. We are continuously expanding the business into the UK and Saudi Arabia while growing in existing markets. Hence, there is a need for capital. The company itself continues to be profitable.”

Having served over 100,000 patients globally, THB looks to provide a holistic range of services on a subscription/fee for service model, she said.

Jafar said an average monthly expense for a patient ranges between Rs3,000 and Rs,5000 in Pakistan

“When consumers (patients) can use a smartphone to financially manage their lives, why not conduct healthcare management digitally too?

“THB aims to fill gaps in the traditional health sector model, offering continuity of care, remote monitoring and health management.

“Access to healthcare digitally can be cost effective for many patients.”

She said her company believes that their model of remote monitoring can not only prevent hospital visits but also enable better healthcare outcomes across communities while simultaneously reducing the burden on an already stressed healthcare system.

“Our service offering ensures maximum impact on patient outcomes and ease of managing one’s health. This includes healthcare managers supporting everything from testing to appointments and insurance processing as well as second opinions from some of the best doctors through our global partners in the UK, USA, Germany etc.”

Jafar said the company conducts ongoing research and trials of smart devices, selecting for accuracy and innovation before localising them for optimum use.

The Pakistan CEO leads the strategic direction of the business, with a focus on building client portfolios, expansion into new markets and developing strategic alliances and partnerships with key stakeholders.

Comments

1000 characters
Shakeel Zaidi Dec 24, 2022 01:56am
Nice. I suggest Population Control should also be a part of the services being offered. This can also be incentivised through International NGOs, Govt Population Control program etc.
thumb_up Recommended (0) reply Reply

The Health Bank, profitable in all markets, wants to double down in Pakistan

PPP nominates Murtaza Wahab as Karachi Mayor

Pakistan, Iraq sign two MoUs during FM Bilawal’s maiden visit

Inter-bank market: rupee falls, settles at 286.19 against US dollar

Open market: US dollar back to Rs305-310 level

IATA says blocked airline funds by countries including Pakistan threaten connectivity

US and India agree defence industry cooperation plan

Oil rises on Saudi plan to deepen output cuts from July

Bangladesh power cuts may last two more weeks on fuel shortages

Trains resume service 51 hours after deadly India crash

Sixty Afghan girls hospitalised after school poisoning