Hive Health, a digital health insurance startup founded at Harvard and Stanford Universities in 2021, has made a significant leap forward in transforming healthcare access for Filipinos with its acquisition of Health Plan Philippines, Inc. (HPPI), one of the pioneering Health Maintenance Organization (HMO) service providers in the country.
“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,” stated Camille Ang, Co-Founder and CEO of Hive Health. “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.”
With this strategic initiative, Hive Health will be able to share its technology and data-driven innovations with HPPI’s existing members. Moreover, it will be able to integrate HPPI’s nationwide provider network and institutional knowledge built across 37 years with its core capabilities to further redefine the patient experience across virtual and in-person care.
“Hive Health has been a valued partner of HPPI given our shared missions. I have seen how the team is able to deliver changes to improve the patient experience much faster than I would have expected, and how they genuinely care about making healthcare accessible to more Filipinos. We are excited for the journey ahead as Hive Health and HPPI join forces,” shared Natasha Reyes, CEO of HPPI.
Hive Health is a digital health insurer that provides comprehensive HMO health plans for SMEs and startups in the Philippines. The company operates through 1,700 hospitals and clinics, with over 60,000 doctors. The company aims to make healthcare more accessible in developing countries where social safety nets are limited. The digital platform allows patients to manage their own and their dependents’ care, request letters of approval, view plan benefits, find nearby providers, schedule annual physical exams, and access medical records from their phones or computers. Members also enjoy fast out-of-network reimbursements within 3-5 days and exclusive wellness perks.
Hive Health is a vertically integrated telehealth and care coordination model that combines virtual and in-person care. Patients can book on-demand video teleconsultations with Hive doctors using their in-house electronic medical records system. The company promotes inclusivity for minorities and provides essential benefits like mental health, medicine, preventive care, and maternity care. Hive Health’s HR dashboard simplifies onboarding and offboarding, streamlines invoicing, and empowers business owners and HR managers to encourage employee engagement and wellness.
Challenging journey ignites healthcare revolution
Hive Health founders Ang and Tang, inspired by personal experiences and the COVID-19 pandemic, aim to improve healthcare accessibility and affordability in the Philippines. They discovered that over 1.5 million Filipinos are forced into poverty each year due to health shocks, and only 10% of the population has access to health plans beyond PhilHealth. Those with employer-sponsored health plans have an average out-of-pocket spend of 56%, and Filipinos find it difficult to use their health plans. During the pandemic, Ang and Tang were pursuing dual MBA and MPA in International Development degrees at Harvard and Stanford.
Having earned accolades from esteemed institutions like Harvard, Stanford, and MIT, including the grand prize at the Harvard New Venture Competition that propelled Grab’s launch in 2011, and gaining support from leading global venture capital firms including YCombinator, the premier tech accelerator in Silicon Valley, the duo embarked on bringing their thesis coupled with personal challenges into action in 2021.
Hive’s impact is already being felt by SMEs across the country. InvestEd CEO Carmina Bayombong notes how Hive Health’s patient-first approach is truly differentiated. “Our employees are super happy. They tell me that they never want to go back to these brick and mortar HMOs. I myself experienced this—I first tried to line up for a Letter of Authorization (LOA) in the hospital but decided to test Hive’s in-app LOA feature while in line. I was so shocked that it came even before it was my turn in line, while other HMOs take 3 days. I ended up saving both time and money.”
With a steadfast commitment to making quality healthcare accessible to all, Hive Health is on a mission to ensure that all Filipino employees receive the best possible care, starting with their groundbreaking health plans.
