Several fundamental problems in Bermuda's healthcare sector can be tackled by fintech solutions that can revolutionise healthcare payments and data exchange — and solutions first employed here will be exported to other jurisdictions.

Apierion, the global healthcare fintech company with worldwide headquarters in Bermuda, has just deployed the first part of the solution, a digital medical twin healthcare credentialling application here on island.

Issues the company will eventually address include the reduction of ballooning healthcare costs, a better allocation of healthcare resources, and better control, storage and access to medical data that should even improve cross-border care.

Apierion chief executive Michael Dershem said: “Apierion's mission to democratise healthcare worldwide begins with Bermuda, an island that encapsulates the healthcare challenges affecting communities around the world.

“The health challenges we are seeking to overcome are not unique to Bermuda; they are a microcosm of the inefficiencies in modern healthcare worldwide.

“Improving public health, beginning with digital records and data management with the Apierion digital medical twin, we can level the playing field, overcome health inequities and increase data access in countries, on all continents.”

Kevin Richards, formerly with the Bermuda Business Development Agency and now managing director of Bermuda Asset Management, takes special pride as a Bermudian with Apierion’s achievement.

He said: “My knowledge of Apierion stretches back years to when I was first introduced to the ambitious team. Dersh bet his reputation on what he saw in Bermuda as a true ‘healthcare revolution’ and a sandbox of possibilities.

“Now, seeing this transformation happening here locally, and being exported as the ‘Bermuda principle’, is incredibly moving in many aspects.”

Ricky Brathwaite, the CEO of the Bermuda Health Council, said: “Apierion's vertical integration of the digital medical twin across data, healthcare and monetary development within permissible guidelines is a monumental step towards providing efficient healthcare solutions for Bermuda.”

Apierion said the technology will reduce administrative costs and, in the first instance, provide comprehensive assurance to Bermudians that their local healthcare providers maintain the necessary training and licensing to deliver high-quality patient care, while also creating value for providers.