In Chapter six we established a few things, such as,
- This would all be great except, for one thing, Direct to Consumer Manufacturing is illegal.
Chapter 7,
Online platforms where customers can safely and easily connect with providers have seen enormous growth in the past few years. Just not in Healthcare
With these evolving challenges set to grow in the years ahead, how do we help prepare clinicians for the next decade?
What skills will the clinician of the future require to provide the best care for their patients?
How will care be provided?
And how will technological developments impact medical training and daily practice?
A potential solution is being discussed.
Online platforms where customers can safely and easily connect with providers have seen enormous growth in the past few years. This solution is based on a model that companies like Air BnB, and Uber. Six of the ten most valuable companies in the world today are platform businesses: Apple, Alphabet, Amazon, Facebook, Tencent, and Alibaba
The idea for the book, tokenomics is not economics was strictly from a perspective of token dynamics. When ETH trades at a high price – gas goes up – transactions become more expensive – Fewer data are recorded due to the price hike. My proposal was, at first very simple. The higher cost of ETH correlates to a lower value of the ETH Network. The reason for the Higher cost is less throughput. That is still true today.
Here is what I learned while writing the book that is also true today
A new business model is maturing
A new business model is taking over now at scale and gaining
Amazon, Alphabet, Alibaba, Air BNB, and Uber, are all platforms
Platforms scale at zero marginal cost
Platforms market to a very small audience
Platforms market only to the edge of the network
That’s one reason why Platforms scale at zero marginal cost
Platforms have extremely high retention
Platforms are built on IoT devices
Platforms invite Peer to Peer interaction
Platform transactions function 1,000 times quicker and are 100 times less expensive when compared to traditional workflows
One example would be Real Estate Title where on a 200k transaction it will take 3 weeks and costs 5K. At the same time, we transfer 200k in bitcoin and it takes 10 minutes and costs 10 dollars
Platforms provide improved customer journeys, due to the positive feedback loop
This is also why Platforms scale at zero marginal cost
The platform model works in multiple industries
The majority of the time when a traditional company competes with a Plafrorm company – the traditional company ends up laying off a workforce
Platforms don’t have assets or liabilities, they have velocity and cash flow.
The Platform integrates service providers – service providers have liability
Platforms use Blockchain to store data in a Distributed Network
Capitol Records and Napster
Uber and Cab Companies
Air BnB in hospitality
That is the tip of the iceberg as far as things Platform companies can do.
Also true today
The new normal includes Restaurants with long lines, Items on the menu but not available. Stores that for no apparent reason are closed. Service providers that are overworked and less patent. Booking a room on the road with pets, or children is frustrating. Where can we eat? Road food at McD’s again? And why did Cracker Barrel take uncle Herschel’s breakfast off the menu? And all of that is acceptable. We just smile and pay more than we did, and get less than we did. For the most part, we are all just happy to be out of the house.
Today is the honeymoon period. And in a relatively few months, customer loyalty is up for grabs in just about every industry globally.
Customer experience is the challenge of the recovery.
Whether it’s more tailored products, greater digital parity with analog services, or faster turnaround, customer expectations of what great customer experience (CX) looks like have shifted significantly.
Web3 CX is all about Digitizing CX using Frictionless, peer-to-peer, workflows (blockchain)
Web3 CX is also device agnostic. And, if it is a global environment, it also means cross-language communications
Easy frictionless access to goods and services, on any device, in any language, at any time that’s Web3 CX.
The big question is, if Web3 is the new CX, then does Web3 solve the current poor CX paradigm? Surprisingly, across the board, Absolutely it does. But it does it in a whole new way. You don’t get Web3 services on a network made for my space. Web3 is decentralized. And it is Distributed as well.
And the whole thing works on an IOT network called a WAMNet.
A Wireless Autonomous Massive Network.
The exercise allowed me to see the correlation between the then-emerging Platform Business Models like Air BnB, Uber, Amazon, and others. From this exercise came the idea of Platforms as a business as a precursor to a DAO, which is about all I do now.
Some thing Happened in the time sequence of this book.
I have written every chapter by hand in Grammarly. I was one chapter after the next, publishing the text, adding images, videos, all that. And it is a ton of work by the way.
Then this happened.
Launched in November 2022, ChatGPT is a chatbot that can not only engage in human-like conversation, but also provide accurate answers to questions in a wide range of knowledge domains. The chatbot, created by the firm OpenAI, is based on a family of “large language models” — algorithms that can recognize, predict, and generate text based on patterns they identify in datasets containing hundreds of millions of words.
In a study appearing in PLOS Digital Health this week, researchers report that ChatGPT performed at or near the passing threshold of the U.S. Medical Licensing Exam (USMLE) — a comprehensive, three-part exam that doctors must pass before practicing medicine in the United States. In an editorial accompanying the paper, Leo Anthony Celi, a principal research scientist at MIT’s Institute for Medical Engineering and Science, a practicing physician at Beth Israel Deaconess Medical Center, and an associate professor at Harvard Medical School, and his co-authors argue that ChatGPT’s success on this exam should be a wake-up call for the medical community.
This is an Epochal shift.
This is March 2023. In the coming weeks I will be publishing with the help of OpenAI.
Defiantly will be worth coming back to see. Be sure to follow or subscribe so I can let you know when I publish the next in the series.
3/01/23 update – https://www.linkedin.com/pulse/widening-digital-divide-michael-noel/ Article I wrote and published using AI. Images are pretty cool.
3/10/2023 Ok Advanced ML changes platforms completely. That said the fundamental platform comes first. I am going to augment new information some AI related some related to other things in the following chapters.
4/10/2023 Update – This just in, ChatGPT passed the US medical licensing exam with flying colors and diagnosed a 1 in 100,000 condition in seconds
Finally Chapter 7 Healthcare
Paradigm shifts become necessary when the plausibility structure of the previous paradigm becomes so full of holes and patchwork “fixes” that a complete overhaul, which once looked utterly threatening, now appears as a lifeline.” – Richard Rohr on Kuhn’s “Paradigm Shift”
In the United States HIPPA compliance has made a mockery of the United States. The US still stands out from much of the developed world in state efforts to make medical care available to the public. Universal Healthcare is so difficult that only 32 of the 33 major developed nations have been able to pull it off.
The Medical Industry is reeling from a mass exodus of talent. A sobering new survey released by Elsevier Health, called “Clinician of the Future,” reveals a prediction that up to 75% of healthcare workers will be leaving the healthcare profession by 2025.
For those of you doing the math, that’s only three short years away.
- Both nurses and doctors are burned out.
- Both nurses and doctors are at risk of leaving the profession.
- The majority of healthcare workers don’t feel like they have a good work-life balance.
- Many healthcare workers responded that dealing with families can be very stressful.
All of the healthcare workers also pinpointed specific challenges that will only continue to grow in the coming years:
- An aging population with increasing healthcare needs
- Patients that are becoming more empowered
- The fast pace of healthcare technology
- A transition to home-based healthcare
The US spends more of its gross domestic product (GDP) on health care than other high-income countries yet ranks last in access to care, administrative efficiency, equity, and healthcare outcomes, according to an analysis by the nonprofit Commonwealth Fund.
ABSTRACT Issue:
No two countries are alike when it comes to organizing and delivering health care for their people, creating an opportunity to learn about alternative approaches.
Goal: To compare the performance of health care systems of 11 high-income countries.
Methods:
Analysis of 71 performance measures across five domains — access to care, care process, administrative efficiency, equity, and health care outcomes — drawn from Commonwealth Fund international surveys conducted in each country and administrative data from the Organization for Economic Co-operation and Development and the World Health Organization.
Key Findings:
The top-performing countries overall are Norway, the Netherlands, and Australia. The United States ranks last overall, despite spending far more of its gross domestic product on health care. The U.S. ranks last on access to care, administrative efficiency, equity, and healthcare outcomes, but second on measures of the care process.
Conclusion:
Four features distinguish top-performing countries from the United States:
1) they provide universal coverage and remove cost barriers;
2) they invest in primary care systems to ensure that high-value services are equitably available in all communities to all people;
3) they reduce administrative burdens that divert time, efforts, and spending from health improvement efforts; and
4) they invest in social services, especially for children and working-age adults
The rankings are based on surveys conducted in 2017, 2019, and 2020 of nationally representative samples of patients and primary care physicians in Australia, Canada, France, Germany, the Netherlands, New Zealand, Norway, Sweden, Switzerland, the UK, and the US. About 5,500 people were included in the US samples.
Sources
https://www.commonwealthfund.org/sites/default/files/2021-08/Schneider_Mirror_Mirror_2021.pdf
https://www.elsevier.com/connect/clinician-of-the-future
https://www.ipsos.com/en-uk/clinician-future-2022-report
With these evolving challenges set to grow in the years ahead, how do we help prepare clinicians for the next decade? What skills will the clinician of the future require to provide the best care for their patients? How will care be provided? And how will technological developments impact medical training and daily practice?
A potential solution is being discussed.
Online platforms where customers can safely and easily connect with providers have seen enormous growth in the past few years. This solution is based on a model that companies like Air BnB, and Uber. Six of the ten most valuable companies in the world today are platform businesses: Apple, Alphabet, Amazon, Facebook, Tencent, and Alibaba.
Source:
https://bernardmarr.com/the-10-best-platform-business-model-examples/ The 10 Best Platform Business Model Examples
18 March 2022
So why not healthcare? Could there be a value-adding platform or pivot to a platform model in Healthcare?
The answer is Heck Yes!
First, so we can compare and contrast, let’s look at ten of my favorite examples of successful platform businesses today.
10 Best Examples of Platform Businesses
- Amazon: This giant marketplace brings together groups of merchants and consumers.
- TikTok: The TikTok platform allows creators and advertisers to connect with a massive user base.
- Apple: Apple enables interaction between consumers and software developers via its App Store.
- Fiverr: Freelancers and contract workers connect with businesses and individuals that are hiring on the Fiverr platform.
- Instacart: With the Instacart app, users can select their favorite grocery store, choose their items, and then an Instacart worker will purchase the selections and deliver them in as little as one hour.
- GitHub: GitHub – which was acquired by Microsoft in 2018 for $7.5 billion – is a collaboration platform for software developers who want to manage their coding projects in one place, share projects with each other, and track changes as multiple people work on the code.
- JustPark: JustPark has reinvented parking by connecting drivers who need somewhere to park with people who have a spare driveway or parking space.
- Zipcar: People in cities or on college campuses can get access to a car only when they need one by borrowing a vehicle through Zipcar.
- uTest: uTest lets you crowdsource usability testing for websites, games, apps, and services. Crowdsourcing is obtaining information or input into a particular task or project by enlisting the help of a large number of people online.
- WAX Marketplace: Gamers can buy and sell virtual accessories like NFTs (non-fungible tokens), gaming skins, and weapons in the blockchain trading platform WAX Marketplace.
Platforms don’t have assets or liabilities, they have velocity and cash flow.
The Platform integrates service providers – They have the liability
Capitol Records and Napster
Uber and Cab Companies
Air BnB in hospitality
Who will be the Healthcare Jagernaught?
The Future of Healthcare – Platform Practices
The platform business model is incredibly powerful and lucrative. Long-term, these types of businesses will continue to dominate the market.
Healthcare has its challenges, and compliance with Privacy is a concern. Quality of care, liabilities, buildings, maintenance, people, hr, on, and on, and on, and on.
Administrative requirements cost both time and money for patients, clinicians, and managers while also diverting resources away from efforts to improve care. Our results are consistent with other studies showing that administrative costs are more substantial in the U.S. than in other high-income countries.
Many countries have simplified their health insurance and payment systems, usually through legislation, regulation, and standardization.
For example, top-ranked Norway determines patient copayments for physician fees on a regional basis, applying standardized copayments to all physicians practicing in the public sector within a specialty within a geographic area.
With DLT we can share Payee, Payor, and Providor information in real-time, then as a DAO administer the plan profitably, with lower premiums benefitting from a lower overall cost per patient.
This lower cost is due primarily from
- Reduced C Level cost
- Predictive Analytics provide a digital Journey with patient data provided so interview staff and greeting staff are minimized.
- Patent Exam rooms for well care are placed in refurbished big box stores in rural areas that are now empty.
- More local, automated, frequent, exams and well care provide lower per-patient load
- Patent Exam rooms are located near lap pools, indoor walking, Free Hiking and Biking type of events, Cooking School, etc.
- Platform Dynamics provide a Positive Feedback Loop
Rural area needs healthcare – Medicare Supported in some areas
Enterprise needs reduced health care costs per employee
Homeless populations
Local Care in more Urban areas as well has to lead to lower overall costs
Blockchain helps solve for this with the transfer of trust, and security in ways traditional healthcare worflows only wish they had. Reducing administrative burden can free up resources to devote to improving health.
A DLT-based Distributed network information can be shared by token holders, securely, in a variety of ways, this makes the current HIPPA system look like a spaghetti sieve.
DLT Mutual Insurance Organizations are coming. They function one thousand times quicker and are 100 times less expensive.
The current healthcare system in the US profits from sickness, and DLT Mutual Insurance Organizations profit from wellness.
In 10 years, the Current Healthcare system will have been disintermediated in some form and will compete with DLT Mutual Healthcare Insurance Organizations which will eventually take over. No one can stop this.
Next Up
Michael Noel CBP
aka Biz Builder Mike Twitter – @BizBuilderMike Youtube @BlockchainWeekly
eschew obfuscation, espouse elucidation