Solve.Care [ICO Review]
Solve.Care is a worldwide healthcare platform which employs blockchain technology rather than the current administrative bodies to connect doctors, patients, healthcare providers, insurers, agencies, employers and employees without the hassle of the middleman all in one place. Created to simplify the access of healthcare by reducing the administrative steps, which ultimately reduces costs & increases efficiency, by delegating authority to all parties involved to connect and make payments directly.
Users have 24-hour access to their healthcare benefits, can understand their insurance, review and pay bills and make instant appointments. Doctors and hospitals can issue prescriptions, coordinate with specialists and have access to accurate records, while insurers can empower patients without being constrained by pre-existing contracts with healthcare service providers.
There are multiple facets within the platform to tackle current problems in the healthcare system from all angles. Think of the Solve.Care platform like the App Store, in a sense that it will have all of the incredible healthcare products, treatments and specialists on offer from all over the world available on it. Solve.Care is building an easy-to-use global framework in which any health products or services can be bought by anyone, anywhere in the world without duplicate processes and frustrating time delays.
Putting Healthcare Money to Better Use
Medical costs and healthcare spending have been dramatically increasing annually with the US alone reaching almost $3.5 trillion in 2017, a 4.6% climb from 2016. It’s projected that healthcare spending will on average rise 5.5 % annually from 2017 to 2026 and will comprise 19.7 % of the U.S. economy in 2026 ($5.7 trillion), up from 17.9 % in 2016.
With that said incredible advancements have been made with regards to technological innovation for treatment, improved outcomes, preventative care and even cases of disease eradication. However, the administrative infrastructure that currently exists to support our modern healthcare systems now represents up to 30% of the total spend. That’s money that could be spent on providing higher quality medical care.
Solve.Care expects to reduce administrative costs from 30% down to 3%, which is a significant saving when applied to costs of trillions of dollars. This will in turn essentially prompt the decrease of cost and improve the quality of healthcare. Through the use of blockchain, the Solve.Care platform has created a solution to counteract this vast amount of medical spending. Ultimately, we can adopt a forward-thinking solution like Solve.Care or continue with the current system and accept to pay more taxes and/or a huge cut in services.
How will Blockchain Revolutionize Healthcare?
Restrictions, delays, manual coordination, who owes who what? Some of the many inefficiencies of centralised systems and how things are currently working. How will blockchain be used to improve upon this system? The true value is that you can take centralised functions and decentralise them but without sacrificing control and security. In a distributed system the community continuously assesses, verifies and validates every transaction and you can use that to move trust-based transactions out of your system. For example, eligibility processes in insurance companies previously involved customers having to ring up and be verified by a call centre. The insurance company was the only trusted source of information. In blockchain the same enquiry can be made independently via the network and you can be sure that the answer will be the same, only instantly.
Essentially, peer-to-peer capability via blockchain can empower consumers and doctors to help facilitate transactions between all the stakeholders without the need for policing all transactions between them. This results in a net benefit to all users of the system, as well as tackling the issue of fraud due to error prone latency – the time-lag between systems sharing data. The latency is essentially a gateway to fraud, 90% of which can be eliminated by blockchain, which will in turn again see a tremendous decrease in the waste of healthcare money.
Time is More than Just Money in Health
In healthcare, timely information is crucial but what’s also crucial is the ability to take action. As it stands now, this doesn’t happen in healthcare, because the systems are not set up in a way where consumers are trusted to make decisions. Lab results often get lost or are sent in an old-fashioned way which can take up to a week to receive, while the patient is left wondering and no doubt concerned. With blockchain, patients can get instant access to results and direct dialogue with their care and information providers, which results in a more positive and productive way of treatment.
The great benefit of the Solve.Care system is that everybody wins. Employees, consumers and patients are not receiving a lower standard of care. Insurance companies are able to cut costs without impacting quality of care, and similarly, government bodies can enable greater access to care, whilst also saving money.
Building a Solid Foundation
The future looks bright under Solve.Care’s revolutionary upgrade to the healthcare system. Solve.Care have already signed their first commercial client with over 5,500 physicians and 250,000 patient members of their own in Q1 of this year, 2018. According to CEO Pradeep Geol, there is an appetite for what they are doing as the company have received a huge amount of interest from many countries around the globe – from Singapore, the Middle East, EU and the UK.
One of the greatest strengths driving this ICO is its impressive team and list of advisors. Mentioned CEO Pradeep Geol has 26 years of experience in healthcare IT, as well as having built 4 healthcare IT companies, and worked with US presidents to design and build several public program solutions such as Medicaid and Medicare. CTO Vadym Vorobiov has 10 years of experience in health and human services, building and evolving enterprise systems for government and commercial organizatons and senior policy advisor Dr Randall PHD who serves as executive director and is resident scholar American Research and Policy Institute in Washington DC. The project also boasts renowned advisors such as the honourable James Moran, Paul Brubaker, Jonathon Chou, Secretary Donald Upson and other experts who are inspired by the Solve.Care vision. The entire team has been carefully selected with the future generation in mind. The extensively experienced team leaders nurture and educate upcoming team members to be the industry leaders and carry forth the Sove.Care mission well in the future.
It’s exciting to already see such a positive and impactful use of blockchain technology changing many lives for the better. With such strong motivation and support behind this project we can only hope this is a sign of things to come within the blockchain and crypto space.
The Solve.Care Token Sale
After the successful closure of their pre-sale with 212,000,000 CAN tokens sold, the official Solve.Care token sale is live now. It started on the 31st March, with 350,000,000 CAN available they have already sold over 236,000,000 CAN tokens.
Sale ends 30th of April, or once their hard cap is reached. Any remaining tokens will be burned, although based on their success in this short time already, that doesn’t look likely.
Once the sale is finished there will be no more tokens released. See more about their project and their token sale at https://solve.care/