Global healthcare expenditure crossed $9 trillion in 2017 and is expected to grow manifold over the next couple of decades. Despite its growth and rapid advancements, the global healthcare industry still faces several challenges in its current form. Issues such as limited access to specialists, lack of collaboration and transfer of knowledge, varying and fragmented data standards and most importantly misdiagnosis are still persistent. Misdiagnosis is a very severe problem faced by the industry as around 20% of the overall patients, and 44% of global cancer patients are misdiagnosed.
TrustedHealth will serve as an ecosystem that provides access to the best specialists and medical support while saving time, helping research the right medications and eliminating the need to travel, especially when time is of the essence.
The Trustedoctor platform is at the center of the TrustedHealth ecosystem. Trustedoctor is the first partner platform of the TrustedHealth ecosystem and already has a functional platform that connects patients to world-leading specialists. The platform provides patients access to the best medical care regardless of their location.
At present, Trustedoctor provides consultations in brain and lung cancer-related cases and plans to expand in other diseases. Doctors can connect and coordinate with each other for Doctor-to-Doctor consultations. Trustedoctor has 50 world-leading specialists in six countries, more than 300 users and is supported by 16 medical organizations.
A patient’s medical data will be hashed and stored in a decentralized manner such that only he has access to it. Patients can share or sell their data with doctors, research centers, educational institutes for the benefit of research and patient outcomes. Even diagnostic labs, pharmacies, insurance companies, patient organizations and legal firms can become a part of the ecosystem. The TrustedHealth ecosystem will cover everything that specialized medicine patients and doctors need.
The roadmap extends till 2020, and the project is being developed in four stages. The stage 1 of the development process will get completed in Q3 2018 and will tokenize the Trustedoctor platform while adding two more diseases. Further features and diseases will get added progressively in the later stages.
TrustedHealth is set to introduce a common currency within the ecosystem that will be called TDH. The TDH token will be used as a utility coin, engagement reward coin and subsidized payment method for transactions within the ecosystem. Trustedoctor is the first platform on the Trusted Health ecosystem and will have the TDH tokens embedded in it. As more partners get added to the ecosystem, they will use TDH as their primary token. Payments across the platform can also be done using fiat, but there will be special incentives and discounts for using TDH.
The token distribution is as follows:
- 20% of the tokens are allocated to the company for future crowd sales and referrals.
- 30% of the tokens are allocated to the team.
- 50% of the tokens will get distributed amongst the ICO contributors.
TrustedHealth’s team is a good mix of professionals from different streams. Founder and CEO Greg Jarzabek is an alumnus of Harvard, ESCP and Warsaw School of Economics. He has extensive experience as a credit trader. He created Trustedoctor in 2016 after the death of his mother due to cancer, with the goal of improving the state of the healthcare industry. Philippe Schucht, a neurosurgeon from Switzerland, is the chief medical officer. TrustedHealth has a team of 19 members, with nearly all working as full-time employees.
The company has 12 advisers, many of whom are doctors and medical professionals.
The CEO’s shift towards healthcare after years of working as a credit trader is driven by a genuine commitment to helping patients access specialized medical professionals.
On a standalone basis, TrustedHealth is a simple project which provides access to specialized doctors and stores user data in a decentralized manner. But TrustedHealth is more than that; the team’s vision is to create an ecosystem that will connect every element of the specialized healthcare industry from the pharmacies to the insurance companies.
One thing that I particularly like about TrustedHealth is their top-down business model. Rather than opening the platform for all type of consultations they are going one disease at a time. After identifying a disease that would be included in the platform, the focus becomes onboarding key opinion leaders and medical organizations in that segment. Once the prominent figures and institutions in the sector are involved, other doctors will actively join the ecosystem.
However, the success of an ecosystem depends on the community that it attracts and only time will tell how TrustedHealth fares. Till then, they have a basic working product backed by a good business model.
- The teleconsulting segment in which Trustedoctor operates is very competitive. There are many platforms offering video consultation services with doctors.
However, TrustedHealth’s focus on niche specialized healthcare and creation of the entire ecosystem differentiates it from general healthcare platforms. -2
- The focus on specialized healthcare and a small set of diseases will affect the scaling potential of the platform. -2
- Specialist doctors in diseases like brain cancer are some of the busiest professionals out there. Would a specialist doctor have time to provide online consultation via Trustedoctor? -1
- TrustedHealth has a top-down approach to scaling where they onboard institutions and thought leaders first. This will help them grow as regular doctors will follow institutions and the leading doctors a particular disease segment. +4
- Trustedoctor is a working product with 50 specialist doctors and the support of 16 institutions. Trustedoctor offers brain and lung cancer consulting, which are among the most complex diseases. +3
- TrustedHealth’s team is well qualified, and they genuinely want to improve healthcare globally. +2
- The ICO has a small hard cap of only 7m500 ETH (~$6 million U.S.). A working product coupled with a small hard cap gives plenty of growth potential post listing. +2.5
TrustedHealth gets a rating of 6.5 out of 10. We like the project for its short as well as long-term potential. The low hard cap can be easily achieved, and the first stage of the roadmap will get completed in Q3 itself. This will keep the investors hooked. Trustedoctor is a working product – you can check it out here.