Simply Vital Health — Providing Quality Health Care

According to The Organization for Economic Cooperation and Development (OECD), health spending measures the final consumption of health care goods and services (i.e. current health expenditure) including personal health care (curative care, rehabilitative care, long-term care, ancillary services and medical goods) and collective services (prevention and public health services as well as health administration), but excluding spending on investments. Health care is financed through a mix of financing arrangements including government spending and compulsory health insurance (“Government/compulsory”) as well as voluntary health insurance and private funds such as households’ out-of-pocket payments, NGOs and private corporations (“Voluntary”). This indicator is presented as a total and by type of financing (“Government/compulsory”, “Voluntary”, “Out-of-pocket”) and is measured as a share of GDP, as a share of total health spending and in USD per capita (using economy-wide PPPs). Details of health spending are shown below.

Health spending Total / Government/compulsory / Voluntary, US dollars/capita, 2016

For businesses, rising health spending means higher expected revenues. But for consumers including government rising cost of healthcare goods and services means not favorable for us. Let’s just review the formula for computing of cost. Cost = direct materials (DM) + direct labor (DL)+ overhead (OH)+ profit (P). Taking business profit constant per product/service provided (so that businesses will continue to be stable), lowering DM, DL and OH, will make cost lower. The lower the cost, the more affordable it is for consumers that give them better and more healthcare products and services.

In my country, each Filipino/Pinoy spent Php5,859 for health in 2014 (based on current prices). The ultra rich is just 690 out of 100M Filipinos. So imagine how many Pinoys have don’t have access/personal capacity to afford health expenses. For me and for the benefits of all, I really support quality healthcare that everyone can trust.

Introducing, Simply Vital Health. Their goal is to transform Value Based Care using blockchain technology. According to Investopedia,Value Based Pricing is the setting of a product or service’s price based on the benefits it provides to consumers. In my own definition Value Based Care is efficiently managing cost/even much lower cost (as I mentioned above) and with better quality of goods and services it gives to us, consumers.

This will how Simply Vital Health can do it.

Health Nexus Ecosystem will strive to provide an efficient global healthcare marketplace, opportunity of providing faster data and of course without compromising the financial aspects of every participants in the ecosystem.

Health Nexus being at the center of the ecosystem will give ability to securely stores and document information, easier access to data & sharing and tracking, and enhanced transparency to consumers, healthcare and the industry. Protected and shielded by using Dapps and blockchain protocols to provide better security features.

At the moment, Health Nexus is looking at further enhancing, improving and developing it forward including a lookout to The Enterprise Ethereum Alliance (EEA), Hyperledger’s Fabric, Quorum and lastly, Patientory.

To know more about Health Nexus, you can visit the following links:

Official website: https://www.simplyvitalhealth.com/

Whitepaper: https://docsend.com/view/cuufmc5

Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=2196551

Bounty link: https://bitcointalk.org/index.php?topic=2197487

Official channels and social media:

Twitter

Linkedin

Discord

Telegram

Blog

Sources: Simply Vital Health, The Organization for Economic Cooperation and Development (OECD),Investopedia, Philippine Statistics Authority (PSA), Philippine Star

Writter by : kay222

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