SOLVE, DeFi & Healthcare: A Trillion-Dollar Opportunity for the Taking

By: Pradeep Goel, Solve.Care CEO

With today’s technological and medical advancements, quality and affordable healthcare should be a basic human right; healthcare for every single person, no matter their socioeconomic level or geographic location.

The global size of the healthcare market was worth over a staggering $8.45 trillion in 2018, and rapidly growing. With the onset of COVID-19, we already know that medicine is moving online and going digital. But how is this related to DeFi? The decentralized finance community is rapidly growing but currently, it is still in its early stages with the focus primarily on yield farming.

We have been watching the DeFi space very carefully and realized that it represents a huge market potential if properly applied to healthcare. If we apply the key principles of DeFi — community governed, community funded, transparent and the elimination of intermediaries — to healthcare, a very interesting opportunity arises.

For example, let us take a look at the medical device financing and leasing market segment for patients and professionals. This segment alone is well over $450 billion a year and there is no centralized finance solution or DeFi solution that is easy, accessible, and global. There is no one offering a global solution for this — no banks, no insurers, no government agencies — no one.

Here we have an opportunity to launch a program that is very much needed in the market — powered by DeFi, governed by the SOLVE community — that can serve millions and eventually billions of people with home care devices.

Working closely with doctors on Solve.Care projects like GTHE (Global Telehealth Exchange) and DCAN (Diabetes Care Network), we have learned that there is an even further growing and urgent need to monitor patients that are spread out globally. And because of that, there is a real opportunity to provide a much needed simple and fast device financing solution for medical monitoring devices that is globally accessible to both doctors and patients.

But the opportunity does not just stop there. We, in Solve.Care, realize that it was not just medical device financing that would greatly benefit from DeFi. The healthcare market is huge, staggeringly huge. But we cannot encompass the whole market. As a start, we are initially evaluating and focusing on several targeted healthcare market segments which would most benefit by DeFi financing pools. They are: medical malpractice insurance, cashflow lending for doctors and hospitals, and drug discovery and research. One thing is clear, there is a real need, real hunger and massive growth potential driven by COVID and the changing landscape of healthcare and the intersection with DeFi.

Today the DeFi market is worth approximately $8.5 billion, but when intersected with healthcare, it would not be an exaggeration to say that it has the potential to exponentially grow into the trillions! The professional facility and device financing market alone is worth over 50 times that. There is a real-world need for DeFi for healthcare, which will be fueled, be a community-governed, community funded, highly scalable, and globally useful solution.

When applied to healthcare, DeFi becomes a very fundamental disruption with the greatest impact!

The way forward

Moving forward, Solve.Care has a clear vision of how DeFi should be governed and applied to healthcare so that it is scalable, sustainable, community-governed and community funded. To achieve this, Solve.Care is launching a framework for governance, constitution, token, pools, financing of healthcare products, and clients. This will then be turned over to the community to scale, grow, expand and benefit from.

We are designing a model that works for real doctors and patients and serves as a gold standard to launch many other DeFi projects for healthcare.

The objective is to create a DeFi standard for healthcare that can be made available globally, serves the immediate opportunity but can be scaled to address other opportunities.

The SOLVE community

DeFi for healthcare represents a huge opportunity for the SOLVE community. SOLVE, the leading healthcare digital currency will be used to stake and mine governance tokens, which in turn gives holders a voice and voting rights in the community to decide which DeFi healthcare products should be financed. The larger the community, the more powerful it is. And the more powerful it is, the more attractive it becomes.

I invite the SOLVE community to take advantage of this trillion-dollar opportunity. As a community, we will impact real patients and real doctors with real products and services. DeFi for healthcare will be purely a community driven and funded program. DeFi will absolutely help deliver better health outcomes to more people, contributing to Solve.Care’s mission of removing barriers to quality care for anyone, anywhere in the world.

DeFi for healthcare is upon us. The opportunity is there for the taking. I, for one, am excited.