Inspiration
Healthcare is an prohibitively expensive cost faced by millions of Americans. We believe by creating a personal electronic health passport with our medical history, consumers transparency can force the medical industry to be more competitive - driving down cost and improving services
What it does
A personal electronic health passport means users have access to their past medical records - doctors, clinics, prescriptions, prices, diagnosis - in their pocket. Previously, American health providers were not required, and thus not motivated to share medical information to competitors, enabling them to "lock-in" these patients for future treatment.
By having their medical information, users are now empowered to do the following that will drive down costs:
Treat the medical market as a truly competitive free market (as it should be!). Instead of turning up to doctors patients are familiar with because they know their past medical history, patients have the choice of sending their history of previous diagnosis (what treatments worked and what didn't e.g.) to new doctors available. We believe that this helps to rid inefficiencies in the healthcare market that include: traveling hours just to go to a childhood family doctor rather than a convenient one nearby, forces healthcare providers to provide better services and lower cost as their "product" (i.e. healthcare) is not longer that differentiated from other healthcare providers, and it facilitates helping doctors make diagnosis (and allows patients to truly seek 2nd opinions!) by looking at a patients medical history.
A tie in with CVS will allow real time updates with prices and availability of drugs at pharmacies near patients. We all feel the annoyance when we are sick, tired, and pressed for time, only to find out that the drugs are not available and that we have to come back to collect it the following day. However, for many types of common illnesses, there are multiple drugs from different providers that solve the same issue. Thus patients and doctors will be motivated towards choosing drugs that are cheaper (consumers can question doctors for certain drugs for an illness if they were previously not given one, or given a cheaper one) and available.
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