Medipedia is a blockchain based solution for enabling cost-effective and transparent global medical tourism. The MEP Token of Medipedia will act as the medium of exchange between medical service providers/institutes/ third parties and medical tourists. Medipedia blockchain network aspires to limit the role of middlemen or agents in the medical tourism industry and also provide a basic litmus test procedure for medical tourists to crosscheck medical consultants, service providers, and doctors before opting for their services.
It also will provide a blockchain based decentralized yet cryptographically secured method for recording, storing and sharing medical records of patients with verified medical institutes and doctors so that the process of providing medical support to the needy during an emergency or normal environment is both hassle-free and top-notch efficient.
Let’s delve a little deeper into the Opportunities of Medical Service Market that Medipedia can both benefit and serve.
Aging Population
The world population is aging especially in the developed countries. Japan fits perfectly into this definition. By 2020, the expected increase in Medical Expenditure is 4.3%, amounting to nearly over USD $ 300 billion per year. Some primary contributors to this exponential increase are aging and population growth, market expansion, advances in healthcare, and rising labor costs.
While North America and Western Europe will see a major upsurge in health expenditure, developing and underdeveloped Asian Nations will look at Europe, America and developed nations like Japan, South Korea for solutions. This is where Medipedia feels it can create a real dent and be the flagbearer for affordable, transparent and world-class health services.
APAC Market
The Asia Pacific is at a crucial juncture in time where it claims to be the major contributor towards the world’s working population but falls way behind in providing affordable health services to these people. Hence APAC is expected to dominate 50% of medical tourism. Patients Beyond Borders Report claims that a proper medical tourism framework can reduce medical costs by 20–30% in Brazil, 65–90% in India, 65–80% in Malaysia, 30 -45% in South Korea, etc.
This is a shining opportunity for proponents of the Blockchain technology to come forth and bring forth the human change that blockchain promises in the first place. Medipedia is sure that others will follow suit and develop blockchain systems that solve real-world problems.
Korea And Medipedia
Medipedia’s mother Country South Korea offers an already wide pool of medical tourist seeking treatments from South Korea’s world-class Plastic surgeons, comprehensive screenings, dermatology and orthopedic departments. In 2018, South Korea witnessed 800,000 medical tourists and market size is estimated to be around $900 million. A major portion of these medical tourists is from China. The reason for this wave of medical tourists is the growing faith and belief in South Korean Medical Experts and respective healthcare services.
Geographical proximity also remains a paramount secondary booster for medical tourists. Hence, Medipedia believes that it can tap on these favorable pre-conditions and deliver a more cohesive and tamper-proof medical tourism platform driven by a reliable safe and cost-effective Blockchain Network.
Last but not the least, the Internet has no doubt made the world smaller but it is an accepted fact that the internet can be tweaked to furnish false information, propaganda as well as public image. Hence a blockchain which is in itself an internet of verified participants seems a plausible effective tool to build solutions to the current Opportunities of Medical Service Market.
To learn more about the Medipedia’s mission for medical tourism industry, visit our website today.
