ROBOMED NETWORK TO HELP HEALTHCARE INDUSTRY SAVE $1 trillion USD

Robomed Network leadership believes that by eliminating inefficiencies in healthcare industry, approximately $1 trillion can be saved globally each year by cutting out non-value adding inefficiencies that could be invested in meaningful innovation or disease prevention. “When it comes to out of pocket spending — nobody wants to waste his money or time. Our tool appears to be quite useful here”, points out Philipp Mironovich, CEO of Robomed Network.

The advantages of blockchain-based network applied to healthcare industry are obvious: immutable, shareable and retrievable digital health records streamline many aspects of the health industry. If a patient changes doctor, the access to the patient’s medical records can still be provided without having to fill out tons of forms, or forgetting a piece of your medical history. As majority of claims adjudication and payment processing activities get automated through the network, the amount of intermediaries handling the administrative costs gets reduced.

Having to fill out multiple forms incurs a significant transactional cost, and, thus, affects the efficiency of healthcare service providers. According to PricewaterhouseCoopers, the average health organization spends approximately $120 in labor searching for each misfiled document, and $220 for the re-creation of a document.

Robomed Network’s blockchain-based innovative ecosystem is here to offer the breakthrough solution to revolutionize new, effective ways of managing the global healthcare industry

In 2015 Robomed Network developed three software products: Robomed EHR, Robomed Mobile, and Robomed Web. In just a year and a half the company has implemented an innovative integrated EHR network solutions for healthcare services in 85 clinics across Russia and over thirteen other locations in Europe, South America and the Middle East; generated a portfolio of 1,7 million patients, and digitalized 2,900 clinical guidelines.

As digital storage of records is turning into a standard practice, medical records and results gathered from different medical service providers are often stored on incompatible databases. This also impacts patients’ health and healthcare providers’ budgets in a negative way. According to Premier Healthcare Alliance research, the lack of interoperability costs 150,000 lives and $18.6 billion per year.

The clinics connected to Robomed Network share a common approach to healthcare management and adhere to the same high quality standards in provision of medical services. For those clinics who choose to use a different EHR network, Robomed Network ecosystem is still available for usage via dedicated API by way of observing the established communication protocols.

«The ultimate goal of our project is to bring healthcare services to a higher level and make the whole system easier. We want to create a friendly payment system between a patient and a hospital, so that it can secure patient’s rights and motivate clinic in a proper way» — points out Robomed Network CEO Philipp Mironovich.

According to the findings shared by the European Healthcare Fraud and Corruption Network, $260 bln US — approximately 5.59% of annual global health spending — is lost globally every year to fraud and error in healthcare.

The revenue of Robomed Network ecosystem healthcare providers has increased on average by 18–20% within 6 to 9 months upon the Robomed Network EHR integration. The cumulative turnover of the medical providers connected to the Robomed Network as of June 26, 2017 was $59,322,033 per annum. The average growth rate of health care providers’ turnover on Robomed Network is estimated at 112% per annum.

The ultimate value of Robomed Network ecosystem for healthcare industry is encapsulated in a smart contract that is ready to make its historic debut in a global healthcare market.

Robomed Network smart contract avails a wide range of healthcare providers and the utmost and comprehensive medical treatment for a patient’s money. The treatment is prescribed by a doctor in line with the registered clinical guidelines that utilize a diverse knowledge in healthcare treatment and high standards in fulfillment of patients’ expectations. These guidelines are subject to a constant update and auditing through a competitive and transparent voting process by medical and patients’ community. Robomed Network has already 2900 clinical guidelines digitalized.

“Smart contract in our ecosystem represents medical negotiations between patients and doctors from clinic. The patient does not acquire something unknown but concrete health results. The smart contract consists from a set of clinical recommendations for the treatment where every disease implicates a concrete list of actions», explains Philipp Mironovich.

On October 25, 2017 Robomed Network will launch a pre-sale to the first ICO in global healthcare industry that will pave the way for the Robomed Network smart contract to thrive.

On October 03, 2017 Robomed Network was awarded a “Low Fraud Rate” by a respected digital ratings agency Digrate.

Robomed Network allows an ordinary patient who is not satisfied with the state healthcare services and does not have health insurance to purchase a package of healthcare services on a smart contract basis and get an adequate solution to his problem», sums up Mironovich.