Updated: Dec 21, 2019
Solve.Care is a healthcare company that is involved in building blockchain platforms, which the team believes may help improve the way healthcare is delivered and managed. SOLVE is the cryptocurrency used to Solve.Care platform. The token is Ethereum based and is designed to follow the ERC20 token standard.
This guide will explain what Solve.Care is designed for, the team behind it, the way it works, and various uses and applications.
What Is Solve.Care Designed For?
Solve.Care CEO Pradeep Goel believes that blockchain technology has serious potential in healthcare to eliminate fraud, reduce administrative costs, and combat waste. Solve.Care is designed to redefine the healthcare industry and enable a new, more effective, accessible, and affordable system.
It aims to reduce healthcare administration costs by providing a peer-to-peer payment platform, which effectively helps in cutting out the middleman. Existing blockchain technology had glaring problems and limitations, including advancing technology and regulatory uncertainty. Solve.Care has been successful in making waves in the healthcare industry to introduce blockchain effectively.
Who Is the Team Behind Solve.Care?
The Solve.Care team is incorporated in Estonia, with additional operations out of Fort Lauderdale and Kiev, Ukraine. The platform was launched in early 2017 by a team of over 50 members. The current CEO of Solve.Care is Pradeep Goel, has been in the CEO, COO, CIO, and CTO roles at various tech companies for over 25 years, including Noridian BlueCross BlueShield of North Dakota, EngagePoint, and Dakota Imaging which was acquired by WebMD.
Vadym Vorobiov is CTO and a successful software developer. He has spent over 10 years in the Health and Human Services sector, involved in building and deploying enterprise systems for government and commercial organizations.
How Does Solve.Care Work?
The platform makes use of blockchain tech as its underlying distributed ledger, for coordinating various healthcare benefits and payments between different parties in the chain of healthcare. This includes doctors, patients, pharmacies, laboratories, employers, insurers, and others.
It works as a peer-to-peer payment platform that reduces healthcare administration costs by effectively cutting out the middleman. It aims to offer the power of payment to individuals as a payments and coordination platform.
SOLVE enables a proof of service model, which is a score of events in the blockchain. This helps to establish evidence of service delivery. This evidence can then be determined based on schedule, consent, diagnosis, prescription, and other metrics.
The token is available on Bittrex, KuCoin, Bitsdaq, CoinSpot, and LiteBit against numerous trading pairs.
What are Current and Future Applications of Solve.Care?
SOLVE is a payment currency designed to reduce fraud, waste, abuse, and cost of healthcare administration. It is a native utility token, that is required to participate in and transact on the platform. It is required for subscribing to various facilities and benefits offered by Solve.Care, such as their wallet and cards. It is also required for participating in marketplace purchases.
Here are certain use cases for SOLVE:
Business Clients (B2B): Employers, clinical organizations, insurance companies, ACOs, and TPAs can benefit from sponsoring millions of Care.Wallets, and launch their own user-centric Care Administration Networks.
Users (B2C): SOLVE tokens can be used by individuals and their families to manage healthcare better and in a much easier way with Care.Cards.
Government (B2G): Government agencies can make use of SOLVE token as the fuel for Care Administration Networks. This can help them manage and administer the healthcare needs of various population groups more effectively and efficiently.
Developers (B2D): Developers, integrators and partners can use SOLVE tokens to develop and publish Care.Cards and Care.Protocol extensions, which allow them to connect with local IT systems and drive global adoption of Solve.Care ecosystem.
The company has partnered with Lyft to transport patients safely to health centers. This is the first-of-its-kind blockchain and ridesharing service integration.
It is also working with Arizona Care Network (ACN) to implement its blockchain-based payment system for 5,500 providers. Care.Wallet launched by Solve.Care for physicians is helping to change the way they manage and deliver patient care. This physician-led governed accountable care organization has been successful in reducing costs and improving patient outcomes using Care.Wallet.
Solve.Care has also entered a strategic partnership with leading pharmaceutical company Boehringer Ingelheim to launch a care network for patients suffering from diabetes.
The Solve.Care ecosystem consists of Care.Card, Care.Wallet, Care.Protocol, and SOLVE coin, which are designed to offer an innovative approach to administer benefits and keep all parties in sync while keeping away from a centralized record keeper.
There is tremendous potential to Solve.Care since it is led by a strong team with deep experience in the healthcare industry. Additionally, Care.Cards allow third-party Dapps to be hosted on top of the platform, which will increase its usage.