This platform connects African healthcare providers with bespoke funding to help make pain management more accessible
Spotted: Chronic or persistent pain may have unknown causes but it is also a common feature of sickle cell anaemia. In Africa, this disease is especially prevalent, and the continent accounts for the majority of pain-related deaths each year, with the expense of the pain medications needed to manage the condition a major contributing factor.
Now, startup 10mg Pharma is seeking to make a difference by establishing a responsible supply chain for chronic pain medications in Africa. The company has developed a fintech platform that can help new entrants into the African healthcare market. Using an artificial intelligence (AI) algorithm, healthcare providers are connected with financing partners who meet specific criteria, and the startup’s approach includes facilitating low-interest credit.
With access to this financing, providers can more easily purchase medication in bulk at a discount and pass these cost savings on to patients, helping to make pain management more accessible and affordable, especially for those in rural and hard-to-reach areas.
10mg Pharma is currently searching for investment partners to develop its platform further.
Getting healthcare funding where it can do the most good is the subject of a number of innovations in the Springwise archive. These include a platform that makes it easier for medical practices in Africa to find locums and another platform that makes healthcare in emerging countries more accessible and affordable.
Written By: Lisa Magloff