Fedo, an AI-driven healthcare technology company, today announced the launch of its “health savings account,” called Fedo HSA, in collaboration with Asia’s largest neo-bank, Open .
Fedo HSA aims to help people prepare for tomorrow’s healthcare needs by making informed decisions about healthcare finances today. It will offer a combined account that will help clients with their spending through a combination of smart savings, insurance, line of credit, all bundled into one powerful savings account along with a credit / debit card. health benefits with rich health features and rewards.
Prasanth Madavana, CEO and Co-Founder of Fedo, said: “Current solutions to healthcare spending are scattered and unorganized. It is a space dominated by savings, informal loans, crowdsourcing, to some extent insurance which creates problems of delay and affordability for the vast majority of households. With the right combination of data and artificial intelligence, Fedo HSA aims to provide a systematic way of planning health needs based on foreseeable health risks and solving the financial crisis that affects millions of families every year due to ‘medical emergencies.
Arun Mallavarapu, CTO and Co-Founder of Fedo, said: “We see this as an end-to-end solution that deals with access to healthcare and affordability. Our goal is not only to transform the front-end experience for customers, but also to streamline operational processes in the back-end in ways that most vendors don’t.
Anish Achuthan, CEO of OPEN, said at the launch: “There is an urgent need for transformation in the healthcare sector to address the issues related to rising healthcare costs and the consequences of the pandemic. . We are pleased to be part of the Fedo HSA journey which has the potential to transform the industry by taking a personalized approach to healthcare financing coupled with incredible customer innovation through technology. “
With Fedo HSA, the company is confident it will eliminate the hassle faced by consumers at the time of hospitalization, allowing insurers to improve their value proposition and open up new revenue streams for banks.
(To receive our electronic paper daily on WhatsApp, please click here. We allow sharing of the PDF document on WhatsApp and other social media platforms.)
Posted on: Wednesday, November 24, 2021, 5:00 p.m. IST
