Any investments in ICO make profit of on average 82% for its investors
Areport by PwC consulting firm shows that up to 100 new ICOs enter the market every month. Some of them turned out to be “sсam”: DeClouds, Opair, Authorship, Confido, and some of them will bring good profits to their investors: Bancor, FileCoin, Tezos.
Petlife is the first veterinary telemedicine service based on blockchain technology. The service will solve the problems of scarcity and quality of veterinary services. It will bring together veterinarians and pet owners around the world. A pet owner will have a choice: to go to the clinic or use a remote consultation. It is useful during the rehabilitation, in case of chronic diseases or when contacting a veterinarian. Remote consultations will help veterinarians to save time on filling in questionnaires and collecting data such as temperature or weight. The veterinarian will be able to monitor the state of pet’ health remotely and change the treatment plan of the pet.
Petlife is planning to use technological solutions; the blockchain medical record to store medical data and make cross-border payments; the technology of artificial intelligence to identify patterns, analyze and forecast state of health on the basis of previous experience; smart contracts that help pet owners, veterinarians, clinics and pharmaceutical companies to solve daily tasks: to treat pets, communicate, search and buy the necessary medicine, pay for services.
What problems does the telemedicine service solve?
The Petlife founders began to invest in market research and strategy development for each individual country already on the early stages of project development. Annually rising need of people for quality veterinary care has led the market to the need for a technological solution. The most acute issues are the following:
The lack of qualified specialists
A person who wants to visit the hospital can not always choose a qualified veterinarian. Telemedicine can solve this problem. Petlife provides an independent rating of doctors, which helps to choose the veterinarian who the patient needs to see, regardless of the geographical location of the veterinarian. The rating is based on the estimates of other users of the service.
Inefficiency and high cost of services
According to BLS the value of veterinary services has increased by 64% over the past 10 years. It is largely due to technological progress in the field of veterinary medicine. There are more expensive procedures: chemotherapy, MRI scan, digital radiography and orthopaedic surgery. In the US, 27% of all health care costs were wasted because of the provision of unnecessary services, inefficient treatment and inflated prices. Telemedicine service, in particular Petlife, will help to save on trips to the veterinarian and the cost of services.
It is difficult to get to medical centers living in remote regions, Petlife helps you decide whether it is necessary to visit the veterinarian in the clinic. A specialist gives the opportunity to take the patient in any place convenient for him.
Risks associated with the telemedicine market
Solvency of the client
Our team realizes that in some families the item of expenses “spending on a pet” is not included in the top 5. However 68% of families consider a pet a family member. This is the main target audience around the world. The purpose of the service is to build a good reputation and receive recommendations from key partners to promote solutions for new potential consumers.
Telemedicine as a service
The telemedicine market is relatively new and it is difficult to predict the level of demand and the achievement of certain sales figures. Success will depend on two main components: the ability of partners to provide quality remote veterinary assistance and the willingness of customers to get this assistance.
Risks associated with the development of technology
Rapid technological changes
Telemedicine is an innovative industry. Success will depend on the team’s ability to improve the platform, use modern solutions such as decentralized blockchain data storage system and smart contracts. It is necessary to have financial resources and an expert team for researches, design and development of new applications to avoid technological or market obsolescence. Strict marketing strategy and planning will allow to monitor competitors and avoid non-competitiveness.
There is no such powerful lobbying in veterinary medicine, as in general health as the share of veterinary medicine among insurance products is negligible. The prevailing majority of municipal veterinary clinics are not interested in technologies. But there are regions, mainly in Northern and Western Europe, which are interested in the development of e-services, especially the electronic record to the veterinarian, in the municipal sector.
Medical information systems
Medical systems within a hospital are becoming more complex. Petlife integration with the API is flexible and modular. The additional possibilities of combining platforms are being designed. If it is inconvenient for partners to use the service through the medical system, it will lead to the loss of the partner.
Information transmission, storage and use of data, the quality of video communication are to meet modern requirements. The service is regularly evaluated on communication failures, software errors, security violations, computer viruses. This is vitally important for effective remote care.
We have studied the market, the legislation and experience of competitors. Positive dynamics of the market, growing target audience, optimistic trends and the possibility to use telemedicine in medical practice give confidence in the successful scaling of the business. Tomorrow morning we are doing the same as today — the service that allows any pet around the world to receive quality veterinary care. We are not alone. We are supported by clinics, veterinarians and professors, scientific communities and insurance companies.
Join us and take part in the development of Petlife!