Universal Health Coin, a public benefit corporation, is reinventing healthcare finance and payment by leveraging the advanced technology of blockchain. Our vision is to be a global decentralized health cost sharing platform customized for each geopolitical use case.
Universal Health Coin is a privacy focused, token-based healthcare finance system that utilizes blockchain technology to arbitrage, decentralize, fund and facilitate the fair payment of health services worldwide. This is achieved by leveraging artificial intelligence across a distributed network, capitalizing on the explosive growth of digital currency as a store of value.
WE ANTICIPATE A 45-55% REDUCTION IN HEALTH COSTS FOR UHX MEMBERS.
Here’s how our model works: UHX calculates cash payments across a blockchain distributed-ledger-system utilizing proprietary algorithms and artificial intelligence (AI) embedded within the system. Care delivery is validated as Health Care Events (HCE) and converted into Blockchain tokens, in real-time to pay health service providers. Blockchain Smart Contracts are then used to cover the healthcare expenses of individuals using UHX. Health service providers are paid at a Negotiated Cash Price built into these digital agreements.
A UHX digital wallet is created and funded through a system of monthly contributions by consumers to pay for future health service expenses they incur. Wallets are debited as the system requires the contribution of members to share the cost. The value of digital tokens held in the wallet are tied to the price of XLM.
Because healthcare is such a highly regulated, bureaucratic industry, the needs of both healthcare consumers and the providers that serve them are often overlooked and ignored. Moreover, consumers are not incentivized to hold health service providers accountable for care quality, cost, and service access. In addition there is little or no financial motivation for individuals to take personal responsibility or “buy-in” to manage their own health.
These third-party intermediaries (payers, brokers, employers, insurers, governmental) siphon off much needed funds that could be used toward the delivery of health services to those who lack access to care. Creating a health system that removes all unnecessary third-party administrators from the equation is a critical element for solving the prevailing healthcare crisis.
15% OF OUR HEALTHCARE DOLLAR GOES TO PUSHING PAPER AND BUREAUCRACY RATHER THAN ACTUAL CARE – IN THE U.S. ALONE THAT IS $500 BILLION OF THE $3.35 TRILLION WE SPENT IN 2016
In their latest report, PriceWaterhouseCoopers (PWC) shows how costs are shifting from employers and government plans to to where consumers are seeing higher, out-of-pocket deductible and co-pay expenditures. This is creating a demand for lower cost and higher quality services among cash paying customers, leading to slower inflation of healthcare prices. PWC believes that this model has run its course and will lead to the return of higher rates of inflation in healthcare.
The Affordable Care Act’s push to create efficiencies and financial stabilization in recent years through mandates tied to the adoption of information management technology and the realignment of some provider incentives through “Value-based Care” were admirable. The problem is that it has been a COMPLETE FAILURE in terms of execution as is typical of government programs and mandates. UHX believes a financial change involving the motivations of both health service providers and individual consumers must be created for healthy, sustainable communities.
What better way than to do that than through the UHX Wallet…
UHX is a solution that uses the innovative technology of blockchain and cryptocurrency to create a direct personal and financial relationship between the UHX member and their health service provider. UHX eliminates third party intermediaries who interfere in these relationships and waste up to 35% of current health care dollars, monies that could be redirected toward more effective health services.
The UHX healthcare finance system acts instantaneously through the workflow model, shown below, without interference by third parties. It is automated, private and secure with the cost of administration and security built into the value of the healthcare dollar.
UHX’s aim is to re-establishes the trusted personal relationship between doctor and patient using advancements in machine learning and artificial intelligence.
The venture capital market recognizes the monumental change in healthcare technology.
The timing is right for the Universal Health Coin as a revolutionary, disruptive blockchain advancement fueling the future of healthcare.
Founders meet and smash brains on how to solve healthcare finance and payment problems.June, 2017
Research leads to the adoption of blockchain & cryptocurrency as the technology to solve the crisis in healthcare finance and payment.July, 2017
Founders form Universal Health Coin as a Public Benefit Corporation and commitment to making the solution a reality.August, 2017
Ideas proposed by a close network of experts in healthcare, finance, blockchain, and cryptocurrency.Sept, 2017
Founders begin recruiting the advisory group of diverse and industry experts, mentors and consultants.Oct, 2017
Ideas are finalized for the use of blockchain and a utility token to create an open market, health cost-sharing model with scalability.Oct, 2017
White paper, executive summary, memorandum and website are published.Nov, 2017
Prep for the launch of the pre-sale of UHX where funding is acquired via pre-purchase discounts of UHX.Jan, 2018
The whitelist is open in preparation for the public pre-sale.May, 2018
The MVP Universal Health exchange and wallet system is developed in preparation for the Token Sale.June, 2018
Independence from the Centralization of HealthcareJuly, 2018
The UHX is released to the community for worldwide access, scaling and adoption.3QTR 2018