Bitcoin Makes Healthcare Affordable for Millions
Bitcoin Makes Healthcare Affordable for Millions: Operate as a public good: Similar to the internet, this insurance will run as a non-profit public service.
This will be the only available plan that will profit from bringing the overall cost of healthcare down rather than up due to its public-good nature.
This is owing to the fact that any savings will be passed directly on to the sponsors, making the plan more cheap. The plan’s value argument for expansion becomes stronger as it becomes more economical.
A NEW BITCOIN-ENABLED HEALTH PLAN
The following traits will define this health plan:
Anyone with internet access is eligible to enrol: The recipients will be able to choose the healthcare facility where they are seen as a result. This is significant since not every healthcare facility will accept or even see uninsured people. Anyone can sponsor coverage for themselves or anyone else under this health plan.
Coverage and payments: Preventive care should always be made available and provided with no out-of-pocket expenses. The sponsor may choose the degree of coverage for additional healthcare services. Fairer credit solutions, such as “buy now, pay later,” can be making available to patients to assist them in setting aside money for the out-of-pocket component of such medical bills. Sponsors can also obtain stop-loss insurance to cover higher medical costs.
Evidence-based medicine will be strongly encouraging and rewarding by the system (EBM): EBM makes healthcare decisions basing on the best available research. EBM can be strongly endorsing and rewarding for both patients and healthcare professionals (HCPs).
- Early intervention and preventative care. The best course of treatment for healthcare is always proactive and preventive care, which is highly encouraging by EBM practise.
- Early intervention is always the next best option for maximising health after preventative care. EBM-based early intervention should be heavily encouraging by the system.
- The strongest defence for any insurance system is the network. The risk of medical expenses can be more evenly distributing across the entire enrollee base the larger the network.
- Many synergies and innovations, including increasing bargaining power with providers and operating expense economies of scale, can be realising as the patient and provider networks of the proposing health plan expand.
- The population will become healthier through preventive care and early intervention, resulting in lower total cost of care and, as a result, lower costs for health plans. All of this can contribute to creating a health plan that is unmatcing in terms of affordability, quality, and equity for millions of Americans.
PATIENT’S TAKING BACK THEIR DATA
- 30% of the data producing worldwide is using in the healthcare industry. Institutions are the owners of this data, which includes the patient’s own medical information.
- Even for researchers seeking to advance healthcare research and development, this healthcare data is problematic to access because it is storing in silos across various health systems. Patients will own their data in any healthcare system that is patient-centric.
- Millions of Americans might receive cost-effective, high-quality healthcare that is patient-centric, equitable, and facilitated by Bitcoin.
- Financial institutions could include companies that offer insurance. I am poising that we can create a brand-new, fully integrating healthcare system that can provide high-quality, equally distributing healthcare that is also reasonably pricing.
- This novel Bitcoin-based system should empower people to make better health decisions.
- We may begin creating this new system by creating an electronic health record (EHR) system based on Web5. And a health insurance product that supports Bitcoin.
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