We’re thrilled to announce the Coral Health project. We’ll be making more official announcements over the next few weeks. In the meantime, join the Coral Health community in our Telegram chat!
INTRODUCTION Coral Health has recognized a massive disruption opportunity in global healthcare systems. Its vision will create efficiency gains in interactions between every actor in the healthcare domain, driving productive data sharing, greater profitability, and improved public health outcomes.
OPPORTUNITY It is well known that in traditional healthcare delivery models, providers, laboratories, payers and drug companies all store patient data in disparate formats and there is no standardization of record keeping. This has led to data breaches and the disarray we see today in health records exchange. Poor data sharing infrastructure has also been impeding the progress of drug discovery and public health research.
Prior efforts to address this problem have largely focused on forcing the entire ecosystem to adopt a new, shared standard. These attempts have been unsuccessful because they’ve been quickly rebuffed by regulation, lobbying and patient apathy.
SOLUTION Coral Health provides an optimal combination of security, patient privacy preservation and data sharing capabilities that can be directly applied to solving the aforementioned health data crisis. Coral Health has developed a comprehensive roadmap to develop software applications and incentivize each party in the healthcare ecosystem to participate in this new health data model.
Coral Health’s key differentiator in its expansion plan is that it is targeting small and readily addressable components of the health data domain, rather than attempting to create an immediate panacea. For example, it will cater to payers’ incentives for quicker claims processing by allowing them to use smart contracts on the Blockchain to automatically make prior authorization decisions. In this incremental fashion, Coral Health will create efficiencies in small but multiple parts of the current health data landscape, steadily moving towards its broader objective.
MARKET According to Frost & Sullivan, the US Health IT industry is a $15 billion and growing market. Coral Health aims to not only capture a significant portion of this market, but also rapidly expand it through its innovative model. Implementing Coral Health outside the US to Canada, Latin America and globally offers many more growth opportunities.
EXECUTION After an initial funding event, Coral Health will expand its team to include additional software developers, salespeople and administrative staff. Coral Health will iteratively develop mobile and desktop applications to be used by each entity in the healthcare system. The number of participants in the system will grow through targeted sales and marketing efforts.
TEAM We’re based in beautiful Vancouver, British Columbia. Our team and advisors are luminaries in academia, biotechnology and finance. 2/3 of our team have advanced degrees from renowned universities in Vancouver, Toronto, and Boston. Coral Health is currently developing preliminary software architecture, starting with an efficient, decentralized method of recording debts and purchase orders between physicians and insurance companies. We are working with Blockmason to build on top of their innovative Credit Protocol.