Ep. 30: Patient No-Shows and Surveys – Dr. Steve Chung (CEO Healthereum)
Dr. Steve Chung, CEO of Healthereum, is a busy urologic surgeon in Chicago but also has lots of hobbies and interests including mining. Healthereum already has a beta app and started piloting in his clinic. Healthereum is a blockchain based company that has created dapps to solve 4 specific communication problems between patient, provider, and insurance companies. Dr. Steve Chung is a Urologic surgeon in Chicago and has been involved in multiple startup ventures. He is co-owner of his urologic practice for over 13 years and has served an administrative role at seven hospitals.
•Introduction and Dr. Chung’s background
•What is the vision for Healthereum?
•Four patient experience problems Healthereum is solving
1.No shows – Do you think telehealth will improve the no show problem? – Patient Appointment Adherence Issues. Missed appointments cost the healthcare system $150 billion each year, this excludes the hidden costs of no-shows which Dr. Chung explains.
2.Small Survey sample size
3.Delayed claim payments – How difficult is it for a provider to get paid by insurance companies? How widespread is this problem? Lack of standardization in claims.
4.Lack of Patient messaging – The Centers for Medicare and Medicaid Services attempted to solve the problems encountered with data collection by instilling Core Quality Measures (CQM).
•Solutions – 4 dapps – HELIO (Healthereum Life Portfolio)
•Telehealth for second opinions
•Have you thought that you are trying to do too much at once?
•What are the biggest barriers to adoption?
•Can you describe your technology stack?
oBlockchain – ERC20 token
oHealthereum DAO – The Healthereum DAO that will be composed purely of registered and licensed providers, hospital networks, insurers and industry groups that are verified as contributing to a patient’s healthy lifestyle. The task of verifying the actors in the DAO will fall upon the foundation which collectively acts within an executive role. Potentially, the foundation itself could be voted out if the current verified providers find that the foundation is not acting in the interests of their patients.
•How is the company structured?
•Who are your company partners and major users?
•STO – Healthereum LLC is a Title III – Regulation Crowdfunding Campaign – https://www.startengine.com/healthereum
•Has government regulation affected the company’s decision making process?
•Steve’s most intriguing person – Edward O. Thorp – Author of “Beat the Dealer” https://en.wikipedia.org/wiki/Edward_O._Thorp
In April 2019, Microsoft announced it will be shutting down its HealthVault patient record service on November 20th 2019. Microsoft started HealthVault in 2009 after two years in beta mode giving people free access to personal health record storage platform. So if you have data on Microsoft’s Healthvault, you have until nov. 20th to transfer your information. They suggest transferring data to Get Real Health or FollowMyHealth platforms. Although they are shutting down this service, Microsoft still has its sights on healthcare and has even partnered with Walgreens to improve health outcomes and lower overall costs. In my opinion, Personal health records are really valuable if you don’t own all your personal data. Although health records don’t seem to be the lowest hanging fruit in the blockchain/healthcare market now, I think the creation of good secure and self-owned health records will become an incredibly valuable way of encouraging people own their own health.
Health Unchained Links
Udemy Blockchain/Healthcare Course ($125 off with HEALTHUNCHAINED coupon): • https://www.udemy.com/blockchain-and-healthcare/?couponCode=DOGUM2019