MedCredits is a decentralized telemedicine platform that provides more affordable and efficient healthcare services through a free market. The first software release ‘Hippocrates’ is a user-friendly app on the MedCredits platform connecting patients to online dermatologists for fast diagnoses at a fraction of the cost.
“Our goal is to give patients full control over their health at affordable prices,” says James Todaro, MD, cofounder of MedCredits. “We can do this by offering patients more options than currently available.” Hippocrates aims to first capture market share in teledermatology. “Dermatology is perfect for telemedicine,” Dr. Todaro explains, “with smartphones and high resolution cameras, the technology is advanced enough to provide detailed images and descriptions of skin problems to doctors worldwide in minutes.”
Combining the power of the blockchain with P2P networks, MedCredits is creating a truly decentralized health services platform. “We started with the OpenBazaar codebase,” says Moshe Praver, MD, cofounder, “and are modifying it to serve as our telemedicine services platform.” As part of the development, MedCredits is integrating the codebase with the Ethereum blockchain to give smart contract capabilities for case validation and physician payment. By forking the OpenBazaar codebase, the MedCredits development team is building upon an already robust framework. “Instead of starting from scratch, we were able to hit the ground running, which is a huge advantage in bringing a product to market.”
The MedCredits team aims to have a product available for testing in Q1 2018.
The eHealth market is currently worth about $85 billion and is expected to grow to $300 billion by 2022. MedCredits is positioning itself to capture a percentage of this rapidly growing market. “Despite the explosion of blockchain companies, there is not a single one developing a platform for telemedicine services,” states Dr. Todaro. “By acting strategically and swiftly, we will be the first movers in this market.”
MedCredits will announce the date of its MEDX token sale in September 2017.
MedCredits is the brainchild of two Ivy League trained US medical doctors, who received their medical degrees from Columbia University, College of Physicians and Surgeons in New York City. The team consists of doctors, dentists, a Wall Street trader, engineers and software developers. The founders of MedCredits have been actively engaged in cryptocurrency and blockchain technology since 2013.