As the words blockchain and cryptocurrency become more common with every passing day, companies are coming up with all sorts of ways to utilize these powerful new tools. One of those companies is WELL, which is creating a global blockchain platform for high-quality healthcare.
The WELL platform will eliminate country borders and connect healthcare specialists and patients worldwide. WELL allows patients to take control of their care delivery, whether at home with concierge services (personal assistant) or anywhere with telehealth services. Visits can be paid for with cryptocurrency or fiat, giving even more access to the platform globally.
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.
The WELL platform is designed with the major problems of today’s healthcare system in mind. Blockchain’s decentralization makes it a good fit with the healthcare industry, as many of the problems are related to patient’s financial and security vulnerabilities to one clinic, hospital, or even specialist. Those problems include the following:
- Access to medical care (either extremely expensive or physically inaccessible)
- Cross-border payment for healthcare services
- Insurance verification and payment/denial
- Access to high-quality care and medical opinion
- Recordkeeping and security
With a network already built up of over 1,600 healthcare specialists in a short amount of time and a plan to increase that network to many times that amount, WELL has all the right pieces to solve these problems. WELL has already conducted more than 13,000 visits in 2017 and has proved the impact of their product. WELL technology is designed to provide value to patients, doctors, and society as a whole.
It would be remiss not to mention WELL’s social mission of “Doing Good by Doing Well”, which is backed by their non-profit program coined, “Buy a Visit, Give a Visit”. Following in the footsteps of TOMS and Warby Parker, WELL works on a 1 for 1 model, where they will provide an appointment with a specialist free of charge to someone in need via their nonprofit partners for every appointment purchased on the WELL network.
WELL has an upcoming ICO beginning February 25, 2018, at 5:00 p.m. PST and it will continue until WELL reaches the hard cap of $28M Ether or Bitcoin or until May 15, 2018, at 5:00 p.m. PST.
WELL 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).
They are currently in Pre-Sale, offering a 40% bonus of tokens until the 1st of February. You can see the full Bonus Schedule below. It should be noted that the minimum purchase for WELL tokens is $1000 USD.