WELL

maniecool (36)in #ico • 8 years ago

You’re reading this post, because you have some ideas about cryptocurrency and blockchain technology and I’d like to introduce you to the WELL project that aims to replace traditional healthcare models by providing easy access healthcare to patients anywhere in the world.
The WELL platform is a decentralized global healthcare network built on Ethereum blockchain and smart contracts. The WELL platform is designed to disrupt and replace traditional healthcare models by providing easy access for patients anywhere in the world to receive remote diagnoses, second opinions, and preparation for in-person treatment from a curated group of the best medical professionals in the world.
WELL allows patients to take control of their care delivery, whether at home with concierge services (personal assistant) or anywhere with telehealth services. Giving patients control helps everyone, since patient engagement translates to better outcomes and reduces overall care costs. Skyrocketing healthcare costs are a worldwide problem. For example, China’s healthcare spending will increase from roughly 3.5 trillion yuan (520.9 billion USD) in 2014 to a projected 15.8 trillion yuan (2.35 trillion USD) in 2035.

VISION
Our vision is a single point of access for both minor and serious conditions that transcends country borders; provides data, best practices, and innovation in compliant and secure ways; and removes payment friction from the system. WELL technology is designed to provide value to patients, doctors, and society as a whole.
The WELL token, an integral part of the WELL ecosystem, performs multiple functions and has been designed so that customers will want to use it frequently.

PROBLEM

• Access to medical services – either very expensive or physically inaccessible
• Cross-border payment for healthcare services
• Insurance verification and payment or denial
• Access to highest quality care and medical opinion
• Recordkeeping and security
• Complexity
• Fraud
• Reputation

SOLUTION

• WELL clients receive access to healthcare service 24 hours a day, 365 days a year, wherever they are.

• By using WELL tokens, WELL allows users to send and receive payment in minutes, eliminating risk of non-payment and costing a tiny fraction of the total.

• WELL blockchain will facilitate immediate fund transfer into escrow accounts. All constituents can manage escrow accounts through smart contracts, immutably releasing payments upon completion and approval of milestones such as visits, paperwork completion, invoicing, etc.

• WELL removes these barriers by connecting patients in any country to healthcare specialists in any country via global telemedicine and local concierge service.

• The WELL recordkeeping app will allow for simplified electronic record creation and store this data on a decentralized anonymized network that is significantly harder to hack and leak

• We agree with Andy and think that the way to build a simple yet reliable full stack platform in healthcare is through blockchain. The WELL system will eliminate points of potential breakdown. WELL smart contracts will (a) ensure that transitions occur smoothly and keep immutable records of actions taken by all constituents.

• WELL requires proof-of-work, time/location stamping of actual care, and undisputed hash records of all steps of a given patient’s service, from referral to billing. This documentation eliminates fraud as well as Stark and Anti-Kickback Law violations and abuses

• Because the WELL network will record all transactions, positive actions improve a user’s reputation. The risk of a negative review motivates all parties to remain honest. WELL’s blockchain-based decentralized network will provide a platform for the next generation of peer-to-peer (P2P) healthcare apps to support and record all constituent interactions in the healthcare value chain, with proof of completion and compliance at each step. Additionally, unlike the skewed reviews of Uber, AirBnB, or even ZocDoc, a clinician’s reputation will largely consist of immutable blockchain data of factual time-stamped compliance and performance. Think of all the statistics collected by Uber on driver performance: acceleration, abrupt stops, route efficiency, etc. The WELL system will use machine learning to determine the most important data-driven factors of service quality and use this data to select and reward its clinicians for highest quality service and best healthcare results.

BUSINESS MODEL
WELL earns from several areas:

Transactions: A small fee on each transaction covers the marginal cost of that transaction and commitment to our charitable mission.

Ancillary Services: As a global healthcare marketplace, WELL will earn fees from services such as translations, pharmacy orders, partnerships, trials, access to training, de-identified data, and access to de-identified health histories. WELL will share these fees with patients and doctors who opt to participate in data-sharing programs.

Remote Patient Monitoring: WELL offers its solution for chronic conditions and pain management. We provide connected devices like iPads and other sensors and have medical practitioners on call. Clients pay monthly or annual subscriptions for themselves or their loved ones.

Network Access: Base access to the platform will be free or minimum cost. Larger and more complex medical organizations will pay for software implementation and customization.

Main Benefits of WELL

• Convenience and ease of healthcare delivery24/7/365 via app or website for immediate appointments and access anywhere in the world
• Connection with a curated global networkof high-level doctors and other healthcare specialists often unavailable or difficult to access in some countries
• Platform for access to relevant providers: interpreters, pharmacies, labs, medical equipment suppliers, transportation companies and more
• Reduction of costs, as much as 30% (varies by circumstance)
• Better payment outcomes, using tokens to ease cross-border payments, reduce payment risks, and eliminate third-party fees
• Secure yet globally accessible datathrough the use of electronic health records
• Transparency and integrityby using blockchain and smart contracts to validate data

WELL TOKEN

WELL tokens – a new economy and incentive structure for the WELL platform
The fundamental unit of value within the WELL system is the WELL Coin token (“token”), backed by healthcare services. Tokens provide non-volatile, inflationary-resistant digital value within the WELL system. The WELL token will be derived from a standard Ethereum ERC20 token and will be tradable on exchanges. The platform will maintain one-to-one mapping with legally bound promises for healthcare services from the WELL network of clinicians, redeemable at any given time.

WELL blockchain technology will insure timely, frictionless payments for conducted healthcare services without the risk of non-payment or payment reversal typical in the healthcare industry. The payment will occur within minutes instead of the week or more that has become common in international money transfers.

CROWDSALE
“Own WELL – Contribute in care and second opinions from healthcare specialists for yourself and your loved ones”
The crowdsale period will begin on April 16, 2018, at 5:00 p.m. PST and will continue until WELL reaches the hard cap of $28M Ether or Bitcoin or until May 15, 2018, at 5:00 p.m. PST.
• Minimum investment = $5,000
If you wish to contribute more than $50,000 please contact us at [email protected] for additional premium conditions.
• We will create roughly 1.5 billion WELL Coin tokens.
• The tokens will sell at a rate of 1 WELL token = $0.1 dollar (10 US cents).

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