Bitclaims presents at the F50 Synergy Blockchain Summit

Transcript:

At Bitclaims were starting to decentralize people’s healthcare. I’m going to get into that a little bit, but first I wanted to tell you a little story about how I got involved in healthcare, someone that was actually building technology and high-frequency trading systems on Wall Street firms like Blackrock credit Swiss. How did I get interested in what the terms what does the deal and really look price transparency and price discovery around today’s healthcare environment in the United States and really all around the world right health care is one of the few markets I mean how do you how you define value and market where there’s no price transparency right can anybody tell me how to do that I’d love to know back in 2016 I was looking at a few options when I was buying my own health care while I was working on one of these firms and I was given a few different choices right I was given the bronze plan the gold plan the silver plan I think David had a copper plan at the time but you know they explained generally what the copay was and what the terms were around the deductible and of course the most important part but my monthly fee was going to be but it didn’t really delve into the actual terms of the deal and what was going to happen god forbid something was something catastrophic happened to be right what were they actually going to cover so I got really interested in this and I actually ended up reading the explanation of benefits for the health insurance plan that I had at the time and I discovered that this third party that I was that I was actually entrusting ultimately with my life right could change the terms of the deal at any given point in time and can actually amend those terms at any given point in time to suit themselves this kind of bothered me a little bit right because normally when we buy things we want clarity on what the execution of the deal terms are right but anyone it does anybody in here actually like raise your hand if you like buying something and entering into a contract without knowing the terms of the deal okay so on Bitclaims we kind of analyze the whole market environment let’s go what is going on in healthcare why is health care so broken well part of the reason why is because there’s five different business silos in health care they’re all kind of taken cut every time a claim is generated at any single health care provider so they take a piece and those pieces are expensive none of them really add value they do some kind of processing and billing and coding but ultimately the people who had hurt the most of the patient in the provider not to mention the price right we all know how health care prices and health insurance prices have gone up in the last few years right there’s only one way that they’ve gone up and the claims processing and actually aims payment has gone down and it’s gone down drastically not to mention no one knows no one really has a clear idea of the terms of the deal and we want to change that and there is a way to change that and there’s a way to change it that’s beneficial for everyone involved especially the patients I want to introduce everyone to what direct primary care is and what right care is in general and this is a it’s a common-sense idea but it’s revolutionary in scope in the sense that instead of a fee based model for health care this is a subscription-based model for health care so I can pay a flat monthly fee to pay my primary care provider and really see them as many times as I want courier for example I’m 32 years old and I live in Arlington Virginia I pay $60 a month let’s see if the primary care provider that includes a lot of basic labs and tests in addition to seeing him anytime by really please and including what’s called the reverse house call where you can actually come and see me if I’m really in a bind them to have an emergency that will be close to $60 a month think about that right whose copay was more than $60 every time they saw some kind of physician or specialist so we’re bringing this model to a much much broader audience and we’re bringing it in a way because we’re using smart contracts or there’s a mathematical proof that the terms of the deal are set and that money is there and it can’t go anywhere unless those deal terms are met we didn’t have people start forming their own healthcare associations their own healthcare buyers folks and their own healthcare cooperatives all I’m watching using smart contracts so it’s essentially a way to crowdsource your healthcare with anyone they want I’m a big believer in freedom of association right I don’t believe that I should be pulled into different risk categories with just anyone I put the ability to choose people and my family people in my community people that I say for example if I’m running marathons right a marathon runner and I want special access to orthopedic surgeons or some kind of physical therapist I might not get we’re providing people the ability right here on our app now today the ability to start forming these special healthcare associations and it seems to everyone money providers love us tremendously because they know that they’re going to get paid how much they’re going to get paid in when and most importantly patients all the terrible terms are set up front so we have a negotiating power now when we go to big provider networks at hospital groups this has never really happened before but it did actually used to happen this is actually how healthcare used to work before third morning health insurance really cartels started taking over the whole market and owning every single channel on our app which is completely open source it’s a free software project right the only thing that is an open source of the ui/ux for the Mocs and that makes sense but everything else is open source it’s completely decentralized anyone can run the software and we want to bring it to a market globally so that people anywhere in the world connect get access finally get access to clear concise terms for their health care and affordable price so right here you can see this is the app itself and if anybody’s interested thank me afterwards it’s David it claims that IO would be happy to get together and do a demo but you can see here where it says my contracts our app they’ll be able to buy into healthcare directly from the providers in their area you’ll be able to use geography crypto to do so people are going to need crypto in order to provide the smart contract metadata for the associations of the co-ops and everything will populate right here on your application on how many visits you have left what are the terms of the deal and who else you’re associated with so right now everybody knows something the US healthcare market is right it’s three trillion dollar total market size the primary care are in and of itself is only a 250 billion dollar market so this is just for America by the way Williams and premises and scale itself across the world it’s a tremendous opportunity and most importantly our number one core value that our company is compassion right because I was tired I’ve seen good people working very very hard and not being able to get the health care that they need because they didn’t think they could afford it now they do it’s a little bit miss lastly wrapping up hearing I want to thank that 50 and specifically Jim for having us here today thanks to our team like I just mentioned myself ten years in finance on Wall Street and ITM Wall Street who a lot of difference there our CEO saying we use in attendance that the audience comes from working at a big for consulting firm implementing IT projects and then our CTO indeed is also getting for us application architect for Apple and technically to eBay in addition to a lot of firms here in the valley and we’re so happy you have you here and I look forward to your questions thank you thank you.

 

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