Swedish fintech and health company Milvik Bima has launched its mobile health app in Bangladesh.

WHAT IT'S ABOUT

According to a press statement, the Milvik Health+ app combines payment tools and e-commerce for healthcare. 

It also has telehealth features that allow users to speak with their doctors and keep track of their appointments and follow-up calls. They can also access their medical history through the app.

Users can also earn health points which are collected with every in-app payment of their health subscriptions. These points can be redeemed for healthcare products, such as ​​medicines, medical equipment, health and fitness wearables, oral and eye care products, and nutritional items.

Moreover, the app enables users to manage their health subscriptions with flexible payment options and the ability to update the details of their family members. They are also able to track their health savings.

WHY IT MATTERS

Founded in 2010, Milvik Bima offers telemedicine, specialist care, health screening, personalised health programs, medicine delivery, laboratory testing, and insurance.

The company first entered Bangladesh in 2012. It also operates in eight other countries across Asia and Africa.

Bringing fintech into digital health will help narrow the gap in healthcare access in Bangladesh, according to Reynold D'Silva, Milvik Bima's global chief growth officer and managing director for Asia.

With a health wallet feature on the Milvik Health+ app, Milvik Bangladesh will be able to offer a broad range of healthcare benefits to customers and make healthcare access more accessible, said Country Manager Ankur Basu. 

Meanwhile, the company is working with its implementation partner, ACCESS Health International, to explore public-private funding opportunities. 

MARKET SNAPSHOT

According to Statista, the digital health market in Bangladesh is seen to be worth $371.5 million this year. It is projected to grow to $631.6 million by 2026, growing at a 14.19% CAGR. 

The Management Information System unit of the Directorate General of Health Services is leading Bangladesh's digital health transformation by fostering a supportive environment for digital innovation. This includes enabling an integrated health information system, creating electronic health records for every citizen, and harnessing population health data using AI.

As a result of the country's efforts to enable digital health innovation, more startups have sprung up in recent years, including the e-pharmacy Arogga and telehealth provider Daktar Bondhu, which both launched in 2020.