Cambodia Investment Review

Rising Giants E104: Socheat Bin on Pethyoeungs Mission to Improve Healthcare Access & Data Management For Cambodian Clinics

Rising Giants E104: Socheat Bin on Pethyoeungs Mission to Improve Healthcare Access & Data Management For Cambodian Clinics

Cambodia Investment Review

In episode 104 Rising Giants podcast hosts Max Thornton and Dom Kalousek sat down with Mr. Socheat Bin, co-founder of Pethyoeung, one of Cambodia’s leading health-tech companies, and spoke about the company’s vision, the challenges it overcame, and its future prospects. Pethyoeung, having recently launched its parent company Pymed in Dallas, Texas, is poised for a phase of aggressive global expansion beyond its Cambodian roots.

Read more: Rising Giants E103 with Vantharith Oum Sheds Light on Techo Startup Center’s Multi-Faceted Roles and Cambodia’s Startup Ecosystem Challenges

Socheat Bin initiated the conversation by detailing the origins of Pethyoeung. “We launched the startup to tackle the problem of low healthcare data access in Cambodian hospitals,” he explained. The issue hit close to home, as Socheat recounted his own difficulty in accessing his healthcare records and finding multiple sets of patient data of himself due to error written name from one to another. “Our mission from the outset was to improve healthcare access for Cambodian patients through securing and digital health data,” he emphasized.

Understanding Local Industry Issues Was Key

When queried by Max, about the early years of Pethyoeung in 2015, Socheat candidly admitted facing significant skepticism. “There was a lot of rejection initially,” he said. “We weren’t the first group trying to solve this problem in Cambodia; the government and NGOs had tried but couldn’t create a sustainable solution due to end of the financial support and no sustainable financial model yet. That’s where we saw our opportunity. We knew the critical sustainable solutions, it needs to have a sustainable business model and private can take part in this change making. Then we needed a sustainable revenue model and had to educate the market about the advantages of efficient data access.”

In discussing how Pethyoeung acquired its first customers, Socheat pointed to his co-founders Ms. Limsan Pong extensive experience in the healthcare sector. “She had worked with many private and public hospitals and clinics around Cambodia and understood their common problems and pain points,” he stated. Dom, further asked about lessons from the early client interactions. Socheat stressed the need for tailored solutions: “Listening to each client and having our team support them was crucial. We realized we had to understand the nuanced differences between user problems and technical problems.”

Mr. Socheat Bin and Rising Giants co-host Max Thornton.

Elaborating on how Pethyoeung addresses these needs, Socheat revealed that the company offers cloud-based Software as a Service (SaaS) solutions to healthcare providers as our entry point to meet our ultimate ambition to have end patients and customers access to healthcare service at fingertips and then and then Pethyoeung offered a telehealth platform as an enabling enviroment for patients to access to healthcare from our trusted healthcare hospital and clinic network at fingertips. “These services bridge the gap between patients and healthcare providers, allowing for smoother operations and more convenient access to medical advice,” he explained.

Open Communication Between Public and Private Sector Is Vital

Comparing the situation from 2015 to now, Socheat noted that the landscape has changed considerably. “The Cambodian government’s policy in digital health and the Cambodian digital agenda 2030 enable Pethyoeung to align with and grow well. Also, the COVID pandemic accelerated digital adoption in every sector, including digital health services. What used to take 6–12 months for onboarding now takes just 6–12 weeks,” he said.

Dom questioned Socheat about the role of the Cambodian government in this sector. “The Ministry of Health has had open space for dialogue and has also accepted input from the private sector, and that’s a positive sign. Open communication between the public and private sectors is vital for progress toward Cambodia’s digital economy 20230,” he responded.

Socheat further addressed questions about competition in the health-tech sector. “There are similar services, but our holistic ecosystem and an in-country team set us apart. It’s not just about providing a cloud-based system; it’s about offering excellent after-sales service and being in sync with local time zones and procedures,” he mentioned.

Establishing A Presence in The US To Attract Investment and Awareness

Discussing expansion plans, Socheat disclosed the company’s strategy to establish a market presence in the US to attract both investment and brand awareness allowing a long-term move into the Mekong region and re-focus on developing nations and also mature markets. “Emerging markets have their unique challenges, but we are eager to take on these opportunities,” he added.

When Max asked if larger entities might edge out local players, Socheat reiterated the advantage of a local team. “Big players lack the rapid ability to address issues in-country and to understand unique local pain-points,” he pointed out. As for entering new markets, Socheat mentioned considering joint-venture partnerships to speed up expansion.

Mr. Socheat Bin, co-founder of Pethyoeung.

Reflecting on the daily life of a startup founder, Socheat stated, “It’s a hard job, but doing tough assignment things makes journey exciting.” On the issue of staff retention, he said, “As startup, we have never assured them with financial compensation but with the mission works. Pethyoeung, we make sure our team knows they’re part of a bigger mission. Offering small equity stakes also keeps people invested in our journey.”

As a final word of advice for fellow entrepreneurs, Socheat said, “Running startup is a journey with encitment and risks associate, do not expect good thing happened overnight. Then be partient and take your time to enjoy your long journey to achieve your mission. If you want to be excited and believe in what you’re doing, that’s the route to follow.” With these insights, Pethyoeung stands as a compelling example of how innovation, tenacity, and a deep understanding of local challenges can create a health-tech enterprise ready to make a global impact.

Listen to the full podcast here.

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