Best of the Live Session

On April 20th, Pradeep Goel, CEO of Solve.Care, held a live session to discuss Solve.Care’s response to the pandemic. Select extracts from that event are presented here.

We wanted to host this live session to discuss how the pandemic has changed the business climate, the benefit administration space and most importantly the healthcare administration space and discuss how Solve.Care is aligning itself with the new reality and new future that lies ahead.

This being a healthcare crisis, healthcare will come out of this fundamentally modified and some of this we have already seen. The simple fact is that going to the doctor right now is a calculation between risk and reward. Do I take my son to the pediatrician or not? Do I wait for him to get better or worse or do I risk exposing him to catching something far more dangerous?

[In terms of changes to healthcare,] [i]n some ways what we expected to take 10 years is being pushed in 10 weeks … There has been a lot of effort put in the last 30 years into central systems to make sure benefits are centrally administered. This model is not sufficient for the consumer. The consumer needs to take care of their families with more options and access to quality care. We are already seeing people choose to use healthcare online versus going to the hospital or ER. People are starting to make very conscious decisions on which type of care they seek and by whom they seek. That is by necessity

A patient’s involvement in the healthcare delivery model will absolutely become fundamental. The patient can no longer afford to be a passive. Patients need to know their care choices and care options. The patient needs to know what healthcare model they are being put into and if that works for them. The patient needs to know what the risks are before they are treated.

The centralized payment system model is clearly not adequate. Everyone who is responsible for healthcare payments has had to make rapid adjustments in their payment systems in the last 30/60 days just to accommodate the different care system they are dealing with. We must be able to make more delegated payments where the patient can pay using their own money or third-party money to the provider of their choice at the point of care. We will see a significant improvement and increase in the adoption of digital online payment systems.

Waiting 3, 6 or 8 weeks for an appointment or to get a referral will not work. We need immediate accessibility to care and the care needs to be from those we want to be treated by. We need to have access to quality doctors when we need them.

We need to be able to pay healthcare providers immediately. The deferred payment systems will not work in the new model of care. A patient must understand what they will be charged before the services are rendered.

We need to have control over and the ability to share our records. We cannot rely on 16 EMRs to hold my data for me and pray that one day they will all connect and interoperate.

We must have our family be part of this healthcare delivery. It is no longer an option for my healthcare to not be a part of my Care.Circle.

These are fundamental shifts in patient expectations.

It is very interesting to see more tele-health and technology adoption has taken place in the last couple of months as in the last 10 years. Doctors are not going to be able to practice medicine the way they used to for the foreseeable future.

We are going to see a very fundamental and forced evolution of these centralized data silos called EMRs into patient-provider collaboration platforms … The reality is, if you don’t change the business model, the doctor will not be able to practice medicine.

What does this all mean to Solve.Care?

One of the greatest innovations of Solve.Care is always that one wallet will let you choose whichever care network I want to join. No matter what network I join I can use the same token to pay for services. The idea of the Care.Wallet is that it is my application that I will use for my entire life and I choose the networks I want to join. Whether it is a sponsored network by my insurance or my employer where I can check my benefits and eligibility or make claims. I could choose to join a consumer network around my disease or my diabetes or to quit smoking. I choose what I want to join and if I don’t like a network I can leave it. This is a unique option to Solve.Care and nothing else connects together and gives choices like the Care.Wallet.

The new look to the Care.Wallet makes everything easy to use. Care.Networks connect to Care.Cards and services based on the networks you are subscribed to. Care.Vault is used to access all your data, under your control. Care.Circles lets you keep your family connected and involved. Care.Marketplace allows the wallet holder to choose what applications I wish to subscribe to and what information I need to subscribe to. Payments with SOLVE, connected devices and other Care.Cards are also easy to find and use in this new layout.

In light of the COVID-19 refocusing, we have focused our energy on the four key network types that make sense. The first is COVID-19 testing and risk management related. The COVID-19 network we are working on focuses on giving people the tools they need immediately to manage the risks around COVID-19, understand the tests and learn how to stay safe even when returning to work.

The second network is similar to the first but in the context of employee-employer relationship. Making sure the remote team is supported, connected, engaged and then returning to work when it is safe for them to do so. This network will also aim to make sure employees who have recovered do not return to work prematurely and put others at risk.

The third network is related to employee wellbeing. As we all start to work from home we are noticing there are clearly different stresses. Employee communication, productivity, satisfaction and the ability to learn and grow are all important as we continue our remote work. Last but not least, we are looking at mental and behavioral health networks which will be very fundamental as we adjust.

Other than that we are still focused on our other networks including Tele-health, community care, home care, disease management and more. Those networks are clearly important and will continue to be developed during this period.

SOLVE is the payment currency throughout all networks connected to the Care.Wallet. We are enabling the Care.Wallet for six different SOLVE transactions. The first is direct buying of SOLVE in the Care.Wallet. The second is the payment of every service inside of the Care.Wallet with SOLVE. The third is the ability to send or deposit tokens as a sponsor. The fourth is cost sharing services inside of Care.Circles. The fifth and sixth transactions are the ability to earn tokens for being a network service provider and the ability to issue rewards with SOLVE as part of provider rewards programs.

The combined effect of these six transaction types means there is nothing a care network needs that SOLVE token cannot deliver.

As we look at data across different countries and their shift into digital technologies and tele-health we can see huge potential for Solve.Care. The amount of savings we can bring companies by utilizing our platform is massive. Even with conservative estimates we see very large amounts of healthcare revenue shifting into an online model of care. We believe we have built the best platform for this shift into tele-services and online care and see massive potential in the near future.

Solve.Care is one of the leaders in this space and we hope to be a big part of this revenue shift. We don’t need to pursue 50 or 100 countries either, the top 30 countries show such a strong demand and a desire to improve online care that we see our opportunity. We must make sure we have clearly defined care networks that are relevant to each of these countries. Be it global or regional we must be there for this shift.

We have focused our partnerships into two categories, Care Network Partnerships and SOLVE partnerships. Care Network Partnerships are partners that will help us launch care networks around the world and put wallets in people’s hands. We are focused on Korea, USA, Europe and the Middle East. The other type of partnerships are SOLVE partnerships which help make SOLVE more accessible, easier to use and easier to store. These are currently focused in Asia, the Middle East and some global. Our partnership goals are less around technology and more on adoption and getting the Care.Wallet in the hands of people who need it.

SOLVE is the number one solution in the new healthcare landscape. Solve.Care Platform was designed to change healthcare for the better. The world around has changed rapidly and the Solve.Care platform is more relevant than it was 3 months ago. Care Networks are the model of healthcare we all need during and in the post pandemic world. Stay tuned for new Care Networks coming to your region!

Watch the session in its entirety here.