FUTURE OF SMARTER HEALTHCARE - HEALTH FX

Do you know how many deaths are caused due to medical errors or wrong diagnosis? It will be astonishing to hear but yes, medical errors is the third highest cause of death after cancer and heart disease in the world. The global demand for high quality healthcare continues to rise without a pause. It is projected that global spending on healthcare will increase from $9.1 trillion in 2017 to $18.3 trillion in 2040.

Health FX is current generation’s decentralized global healthcare platform, which uses Artificial Intelligence for matching patient needs with that of practitioners across Asia and simultaneously taking care of logistics, payment and insurance claims. This project is launched by one of the renowned names in medical space I.e. Global Health and Travel, a successful company operating since 2010 and working with the medical fraternity. It has an unparalleled reach with network of 40,000+ doctors across 150 clinics and hospitals globally. Health FX will extend its deep knowledge and wide networks in medical treatment coordination by launching a blockchain enabled platform that connects consumers, healthcare providers and insurance providers.

Image Source: HealthFX Whitepaper

It is well known that online review sites and social media have become extremely popular among youth to search about health information. But the pace at which new knowledge is produced outstrips the ability of any individual clinician to read, remember, and manage information that could inform clinical practice. Every year 1000s of new papers are published in specific field and as a result it has become more challenging for practitioners to stay current The best practice awareness within the medical community can shift rapidly due to this uneven knowledge distribution. Choosing the best practitioner becomes a point-in-time exercise and the ability to quickly identify healthcare professional options who have appropriate experience, up-to-date knowledge, positive feedback from previous consumers and availability is critical in ensuring the best possible outcomes.

Frauds in healthcare system are on rise and thieves try to steal personal identity to lodge fraudulent claims. To combat these, insurance providers rely on third party verification services, which can turn out to be a costly affair per claim. Blockchain, with its inherent property of distributed nature improves transparency and the transactions are immutable. Health FX blockchain will be permissioned through cryptographically validated membership, which governs access and identity management.

Traditionally, Electronic Healthcare Records (EHR) have been used by medical institutions but due to centralized nature of these, they lack standardization and in most cases, the information gets locked in silos without much use to the patient. Blockchain will ensure transparency and accountability due to its decentralized nature and will give real time access to up-to-date records to patient. The proposed solution will be a win-win both for consumers as well as for healthcare providers. Accurate pre-authorisation will result in faster transaction settlement and thereby, improved cash flow. For insurance providers, it will lower down the cost as there will be less intermediaries resulting in reduced administrative costs and rapid fraud detection.

Image Source: HFXToken Whitepaper

The Health FX token Pre-Sale begins on 14 July, 2018 at 1:00pm UTC. The Token Main sale begins on 8 September, 2018 at 1:00 p.m. UTC and will continue until it reaches the hard cap of USD$38M or until 30 September, 1:00 p.m. UTC. A fixed volume of one billion HFX tokens will be created in total. No further tokens will be created.

Founders and team members are fully vested after twelve months with a six month cliff. Advisors are fully vested after twelve months with a six month cliff. This indicates that token economics has been worked carefully keeping investor interest in mind.

Prime use of HFX Token will be following:
-Access to AI-driven service matching recommendations
-Internal payment for services between platform stakeholders
-Cross-border payments for healthcare services
-Community incentivisation to develop and enhance the ecosystem

Health FX is a trademarked brand of Health Fyx Pte. Ltd., a registered company in Singapore (UEN:201014286D). Global Health and Travel is a fully owned existing brand of Health Fyx Pte Ltd. www.globalhealthandtravel.com The Health FX team draws extensive experience from healthcare, insurance, finance, legal, regulatory, technology, global start-ups and Fortune 500 executive leadership.

Further details on this promising project can be checked at the following links:

Official Website: www.hfxtoken.com

Whitepaper: http://hfxtoken.com/HFX-WP.pdf

Telegram: https://t.me/hfxtoken

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This article was created in exchange for a potential token reward through Bounty0x, which may be granted on acceptance of this article.

** This should not be treated as explicit financial, trading or otherwise investment advice. Please do your own detailed research before final investing.**