What is Wellchain?
5% of all patients account for 50% of all health care costs worldwide, and much of this is due to inefficiencies. Wellchain aims to make the healthcare system efficient, saving up to 30% of health care costs worldwide, equating to $2.4 trillion/year.
Wellchain is developing an enhanced care coordination app. Features include telemedicine, team communications, reporting, reminders, alerts, scheduling, and medical record access. Using AI, a score is derived which provides a quantified snapshot of a patient’s comprehensive health status, which is useful for triage (prioritization). This improves resource management (as with staffing) and increases a hospital’s efficiency. In addition to prioritizing patient care, a patient’s condition can be tracked over time and displayed as a Status Change Index (% of improvement or decline over time). This allows for comparison between patients and even facilities. It can determine if a facility’s operations are improving or worsening. One of the key features is the ability to track patient compliance using the blockchain. Attractive incentives will be issued to the patient for complying with a provider’s treatment plan (hence the gamification aspect). Compliance points are earned, and patients compete either with themselves or others. All of this results in better patient outcomes while driving down the cost of healthcare. There is one version for the facility and one for the patient and both are integrated on the back end.