Blockchain technology has now extended to the health care delivery, thanks to Digipharm. What is Digipharm, you ask? You are about to find out.
DigiPharm; A Paradigm Shift in Health Care
Blockchain technology is currently been applied to solve practical problems. Its influence has been felt across different industries which include, Banking, Tech, Housing etc. This revolutionary technology has now extended to the health care delivery, thanks to Digipharm. What is Digipharm, you ask? You are about to find out.
WHAT IS DIGIPHARM?
It’s a platform that uses blockchain technology to restructure the healthcare delivery system into a value-based approach. It seeks to overcome the flaws associated with global healthcare infrastructure by offering;
• Easy Access to Patients
• Reduced Costs for all Stakeholders
• Innovative Pricing
• Incentivize Innovation
• Overall Transformation of Personalized Healthcare
Its primary goal is simple, empowerment of patients across the health care industry based on a mutually beneficial collaboration between the health systems and providers. How does Digipharm achieve this goal?
According to the whitepaper, this platform intends to use a Reimburse and Insight platforms to implement innovative value-based pricing that will be available on a fully independent platform. It seems a little complex, doesn’t it? Let’s break it down a little.
HOW DIGIPHARM WORKS
There are some basic terms you need to understand to have a general view of how Digipharm works. They are;
Innovative Pricing
There are many names that have been given to this term; value-based pricing, risk-sharing schemes, pay for performance, etc. Regardless of the name it goes by, the meaning remains the same. It is an approach that have the potential to solve the funding challenges often associated with new drugs.
What’s more, based on measurable outcomes of a patient, i.e. disease progression and overall survival, it can be structures such that the healthcare system bears the cost for the value delivered by the drug when used by patients.
For example, if we are not entirely sure of how many cancer patients will survive for at least six months when starting a treatment. An agreement between the healthcare system and manufacturer could be used to set a base price for the treatment. This base price is increased for every patient that lives for at least six months and decreased for every patient that does not.
This is the most effective pricing scheme where risk and uncertainty between healthcare system and manufacturer is present. It saves cost and improve patient outcomes.
There is one question now; how does Digipharm implement this value-based pricing? The answer can be summarized into two words, Reimburse Platform.
Reimburse Platform
This is a platform that is designed to help payers and manufacturers negotiate pricing agreements. This can range from personalized schemes that are based on a surrogate outcome, to a wider access agreement.
Using patient treatment and outcome data, Reimburse Platform expedites, integrates, coordinates and delivers a healthcare system that focuses on the improvement of patient outcomes. At the same time, accelerating payment for value mechanism between the payers and manufacturers through a peer to peer technology.
The benefits of the Reimburse Platform extend to all the parties involved.
The patient enjoys;
• Faster access to high cost drugs
• Personalized and patient centric healthcare
• Pay less for drugs that provide less benefit
• Benefit from increased competition between manufacturers
• Benefit from accelerated access to innovative therapy
Benefits to payers and manufacturers are numerous as well.
The Insight Platform
The Insight platform is all about data collection. It involves the extraction of anonymized patient level data, including genomic data. The goal is to prepare for a future healthcare market that is value-based and data driven. What’s more, patients will no longer have to worry about their privacy or data security since it is encrypted on the blockchain.
With Insight platform, patients get to enjoy;
• Ability to access up-to date and reliable health information
• Benefit from evidence-based care
• Custodianship and ownership of their own data
• Facilitates personalized & patient centric healthcare
• Incentives for data contribution
• Security and privacy of data transfer
There are other benefits enjoyed by payers and manufacturers as well.
DIGIPHARM; THE TECHNOLOGY
There are some challenges that are expected when trying to integrate a platform like Digipharm with pre-existing IT infrastructure within the health system. However, there are technologies in place to ease this process.
Blockchain Technology and Smart Contract Application
If you are familiar with cryptocurrency, then you already know that blockchain is a distributed database technology which is the backbone of Bitcoin and Ethereum networks. Smart contract on the other hand, are self-executing pieces of code, which serve the function of facilitating, verifying and enforcing the terms of a determined contract.
Private Channel on an Independent Platform
The private nature of patient data and pricing agreement between stakeholders and requires a secure channel. Therefore, all sensitive information would be transmitted on Digipharm private blockchain such that it meets all compliance, regulatory and data protection laws.
Digital Identity Services
It is necessary to protect the privacy of the users. As such, Digipharm uses the digital services that the blockchain provides to create profiles for patients and other stakeholders that are enrolled, without compromising their anonymity.
Security Maintenance
Digipharm networks, including the endpoints will be constantly monitored for security anomalies. If any is suspected, a dedicated investigation protocol would be initiated.
DIGIPHARM TOKENS (DPH)
The tokens are expected to be used to access the Digipharm platform. Although the fees will be determined in US Dollars, the quantity of token charged depends on the level of access a user requires. It ranges from manufacturer, patient, provider to payer. The form of interaction required is another factor to consider. However, the token required for this (interaction) is subject to change.
Characteristics of Digipharm Token
The token has a maximum supply of 100,000,000 which are ERC20 compliant. With a ticker code of DPH and decimal place of 18, the Digipharm token price is set at 1.00 USD.
The pre-sale features a total of 15,000,000 DPH at a base price of 1.00 USD and a discount of 35 percent. It is expected to last four weeks. However, the main sale features 50,000,000 DPH. The remaining 35,000,000 DPH is reserved for;
• Referrals/Bounties
• Reserve/Product development
• Team/Partners
According to the whitepaper, any unsold token would be burnt.
Sources
Website: https://www.digipharm.ch/
Whitepaper: https://digipharm.ch/docs/DigipharmWP.pdf
Facebook: https://www.facebook.com/digipharmteam/
Twitter: https://twitter.com/DigipharmTeam
Linkedin: https://www.linkedin.com/company/11360677/
Medium: https://medium.com/@digipharm
Telegram: https://t.me/joinchat/ExOHxk-TuOplQDbBWXaLaQ
Youtube: https://www.youtube.com/channel/UCtZuSfZBVdKErQtbO9Ql4Pg
Reddit: https://www.reddit.com/r/Digipharm
Authored by: gbenga88
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1874687
Eth Address: 0xdcef7d27bbaae609accdaf43ccf41b042beaffb4