Nowadays, our smartphones are our genies. We swipe them, and simply select the app that would make our wish come true. From groceries’ shopping, to food delivery, to renting cars and homes, all these demands and more are all met through user-friendly apps. All industries’ players are aware now of the crucial role technology plays in our daily lives, and the healthcare industry is no exception. This is exactly what urged Karim Khashaba, Sherief El-Feky and Yasser AbdelGawad to launch Egypt’s leading digital health platform; Yodawy.
Yodawy is proud to receive @eeawards_ | UN SDGs: Healthcare award.— Yodawy App (@yodawyapp) June 16, 2021
We are humbled to see Yodawy's positive impact on our community and how we are able to improve people's lives.#Yodawy#Healthcare_Made_Easy#PeopleOfNow pic.twitter.com/NtcAfoW5k2
Founded in 2018, Yodawy has introduced the region’s first Pharmacy Benefit Management (PBM) solution where it connects pharmacies, health insurance providers, and patients through a sophisticated cloud-based approval engine in order to serve a wider customer base faster. The platform works on many levels with different benefactors, enabling patients to have their medicines and products delivered, insurance companies to automate approvals, and pharmacies to boost their sales through e-commerce servicing.
How It Works
Using Yodawy Android or iOS app, customers can simply order medicines and other healthcare products. Its PBM solution connects pharmacies, health insurance providers, and patients through a real-time AI-powered approval engine. The patients can use the offering by registering their insurance cards, request medicines, and receive instant approvals – after which the medicines are delivered at their doorstep.
How Are Pharmacies Benefiting from Yodawy
Relying on the fact that Yodawy has over 2 million users, large chains of pharmacies in general, and “Mom-and-pop” pharmacies in specific use Yodawy to grow their sales by selling medicines online since it enables the local small pharmacies to sell their products and benefit from shared services and faster claims settlement. So far, Yodawy has managed to integrate over 3,000 pharmacies, 8 leading health insurance companies, and fulfilled over 800,000 orders.
“Yodawy is powering a digital healthcare revolution in Egypt. The digital infrastructure that we have created is breaking down silos and creating a more integrated healthcare system that better serves patients.” - Karim Khashaba, Yodawy founder and CEO.
How Do Doctors Use Yodawy
Yodawy has created a dedicated apps for doctors, Yodawy Doctor App. Using the app, doctors can issue digital prescriptions for their patients, with details like dosage, frequency, and duration. They can also create prescription templates on the app for the most common types of cases and use them repetitively to save time.
Funding of Yodawy
In November 2019, the thriving startup managed to raise $1M in a Series A round led by Algebra Ventures, and CVentures. And in less than two months, Yodawy managed to raise $6M in another round. Because of its tremendous growth, the Cairo-based healthtech startup successfully closed a $7.5M Series B funding round last July. Led by Middle East Venture Partners (“MEVP”), Global Ventures, and Algebra Ventures, with the participation of CVentures, P1 Ventures, and Athaal Angel Investors Group.
Yodawy announced in a statement that it plans to use the latest funds to introduce additional offerings and expand to new markets, without disclosing the names of markets it’s eying for expansion.
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