The DOC Token Economy
A short piece explaining the economy behind the DOC token and its features on the HealthSapiens platform.
HealthSapiens is introducing a revolutionary platform where users can access accredited and reviewed doctors for their immediate healthcare needs. By providing a highly affordable alternative for immediate access to care, individuals are given the tools needed to be proactive about their health needs. By removing the need for third-party approval, and by creating an smartphone/desktop app, accessing a doctor can be as easy as calling an Uber.
Doctors and care providers also benefit from the features of a low-friction ecosystem. Doctors now have a platform for work that is unleashed from the traditional healthcare system that delays payment, requires overwhelming paperwork, and requires lengthy approval wait-times. With the HealthSapiens platform, doctors can hopefully fulfill their original motivations of becoming a doctor; treating patients directly in an unrestricting environment, where outcomes are prioritized and rewarded.
A healthcare ecosystem that only considers the connection between patients and providers is incomplete, however. With the Electronic Medical Records pool of data, the HealthSapiens platform is able to integrate the roles of researchers and pharmaceutical companies in the ecosystem. By having a pool of data that is encrypted, yet accessible, researchers are able to access the data they need in order to improve and progress healthcare research, without infringing upon the privacy of any patient or individual.
Powered by the DOC token
The DOC token is the vehicle for:
- Minimizing costs, maximizing speed, and automating many of the transactions that take days to weeks in traditional healthcare systems.
- Fair patient involvement in the healthcare system, by allowing patients to be compensated for their data.
- Creating an incentive structure for care providers to focus on the outcomes of their patient, rather than simply giving them attention.
By tokenizing a healthcare platform, a traditional healthcare ecosystem can remove much of the bloat and bureaucracy that hamstringing its efficiency. Using the liquidity of a cryptocurrency, and the power of Smart Contracts, a comprehensive platform can be established that integrates all relevant healthcare parties, and none of the extraneous ones.
The HealthSapiens’ DOC Token is more than a currency, a store of value, or a medium of exchange. The DOC token operates and equips global users in the HealthSapiens ecosystem with a native currency that seamlessly circulates within the Healthsapiens economy. Healthsapiens has provided a common platform for physicians, patients, researchers and pharmaceutical companies to provide and receive value to.
HealthSapiens intends to break geographical barriers and allow physicians to be able undertake and accommodate a diverse amount of patients worldwide; patients who were formerly out of their locality of influence. Using an ERC20 token is what allows the legacy HealthSapiens platform (found at healthsapiens.com) to fulfil its vision in becoming a borderless platform; where the limitations of nation-bound currency are eliminated, along with the costs of middlemen in transactions. Using the Ethereum blockchain and a native ERC20 token, the original HealthSapiens business model can turn into a decentralized platform without geographical barriers, where the only limit to access is access to the internet itself.
A corporation is wholly composed of only two things: people and contracts. People provide the work for a corporation, and contracts dictate how that work is done (as well as secure ownership of assets, agreements, etc). By leveraging the power of smart-contracts, the HealthSapiens’ platform will have an huge advantage over any legacy healthcare system. The efficiency that smart contracts bring to the HealthSapiens platform allows HealthSapiens to eliminate the inefficiencies brought on by needing a human (working under a contract) to review and approve transactions, and outsourcing that labor to a smart contract who does that work in an automated manner. What results is simply the DOC token being sent between routed between two parties, through smart contracts rather than through third-party bureaucracies where the work may sit in someone’s inbox for days to weeks before someone approves it and sends it along.
The HealthSapiens Electronic Medical Record platform is one of the main value propositions behind the DOC token. The EMR platform solves a number of key issues found in current healthcare systems with one feature. The EMR will create a pool of encrypted patient data that is only accessible to the patient, and to whoever the patient allows. By encrypting patient data, and storing it on ‘the cloud’, patients are given the familiar option of handing control of their data to a trusted authority; in this case, however, this authority is a auditable smart contract, rather than an independent agency with their own incentives. A single centralized pool of data that is untouchable to anyone with the patient permission unlocks a few key features of the HealthSapiens platform.
- Patients have control over their own data for the first time
- Doctors now have instant access to their patients data without having to waiting for another office to fax over patient records.
- A huge pool of data is available to researchers and companies willing to spend the DOC tokens necessary to compensate patients for their data.
Researchers can pay DOC tokens to HealthSapien patients in exchange for being able to access patient EMRs to use in their research endeavours. Pharmaceutical companies will also be able to engage in an exchange of DOC for Data with HealthSapiens’ patients. Pharmaceutical companies will benefit from the EMR data for market analysis as well as research and development purposes. In traditional healthcare systems, this has always been a main barrier for the progress of research endeavours; patient data is simply unavailable much of the time, and innovation/research is simply not an option due to regulatory constraints and patient privacy concerns. Giving patients ownership of their data, and creating a platform of monetary compensation removes these issues; patients can choose themselves whether they want to retain their data, or sell it to those who want it. HealthSapiens looks forward to furthering research in the medical field, while allowing patient compensation for their value!
Have a question about the DOC? Just like the HealthSapiens platform, we are available 24/7 in our Telegram: https://t.me/healthsapiens
Want to learn more about the project? Check out our website: https://healthsapiens.io/
