IDB Lab finances telemedicine in Ecuador to reach underserved communities

IDB Lab, the innovation and venture laboratory of the Inter-American Development Bank (IDB) Group, will lend $2 million from the IDB's Social Entrepreneurship Program through a loan to the Ecuadorian company DoctorOne to help it reach more underserved communities and improve access to quality healthcare.

Telemedicine is a useful digital solution to narrow access gaps in health services, especially in remote areas. It can also shorten waiting times and reduce unnecessary visits to hospitals and clinics. This loan will support the expansion of DoctorOne's telemedicine services to more rural and underserved areas of Ecuador, where access to quality health care is limited.

With this loan, DoctorOne aims to offer affordable, convenient, and universal quality healthcare, setting DoctorOne on a path to become the leading telemedicine platform in Ecuador and Latin America and the Caribbean. It plans to implement technological improvements, develop its commercial strategy through massive B2B channels, and install virtual health care centers, as well as set mobile units and recruit and train doctors in the different regions where health care will be provided.

DoctorOne will offer its platform as a benefit to members of cooperatives, associations, and microfinance institutions. This way, the company will provide vulnerable and low-income populations in rural and peri-urban areas with quick (less than 30 seconds) digital access to first aid medical services for primary diagnosis.

"With this loan we leverage the entrepreneurial talent in our region to find innovative tech solutions that address the health care challenges facing many poor and vulnerable populations. A pioneer in telemedicine in Ecuador, DoctorOne is providing better access and quality of healthcare and, with the support of IDB Lab, it will expand access to the communities that need it most," said Irene Arias Hofman, CEO of IDB Lab.

"We are very excited to partner with IDB Lab, a leading institution that supports innovative solutions for social and environmental challenges in Latin America and the Caribbean. This investment will allow us to scale up our telemedicine services and reach more people who need quality health care, especially in rural areas where there is a shortage of doctors and health facilities," said Pablo Cevallos, CEO and co-founder of DoctorOne.