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US spends two and-a half times the OECD average.
spending, taken as a whole, is very high in the United States, and growing.
From 2005 to 2015, both health insurance premiums and deductibles in the United States tripled, while overall patient satisfaction with health care decreased by 50%.
Only 80% of health insurance premiums go towards paying for service, while the other 20% is lost in administrative overhead. Oftentimes hospitals go unpaid for months, or longer—causing ever increasing costs for those who do pay.
CMS projected that total health care spending for 2016 reached nearly $3.4 trillion, up 4.8 percent from 2015. According to CMS, U.S. health care spending is projected to reach nearly $5.5 trillion by 2025, a full 20 percent of GDP.
• Secure and Anonymized using private key cryptography
• Transactions are publicly auditable
• No restriction or fee based on user location
CarePay is a new way for people to find and pay for health care. By using Blockchain based CarePay, patients and providers can escape complex middlemen in order to give or receive payment for services, regardless of borders.
CarePay is designed to be used for all types of medical needs, from complex procedures like knee replacements, to check ups, or trips to the emergency room. CarePay isn’t just for personal consumption, but can be given or exchanged to anyone at any moment, right from their wallet.
CarePay doesn’t only benefit health care patients. It also creates an effective digital alternative to the business and administrative challenges experienced by providers by taking them back to the basics of a transparent market, where prices are readily available and payments are immediate. Once providers have accepted a payment using CarePay, they can turn it into USD at any moment. Using CarePay, Providers can rest assured they will get paid the price they set for their service. What’s more, CarePay doesn’t interfere with current payment systems. Rather, it runs alongside and in addition to existing insurance models as a low cost, alternative revenue stream that brings in patients based on market forces.
CarePay is more than just a payment platform. CarePay holders will be able to utilize their wallet to securely host their health information, from medical records to insurance details. Wallet holders can securely share this information with providers. This way, patients are at the center of their healthcare, freely choosing who serves them, rather than being beholden to a provider network or insurance provider.
Thanks to an integration with Amazon Alexa, CarePay patients will be able to find and book doctors automatically, as if over the phone. This makes CarePay immediately available to over 119 million Americans. CarePay will not only be applicable to healthcare patients and providers at hospitals, emergency rooms, or doctor’s offices. Pharmaceutical suppliers and pharmacies are among the future planned participants.
CareX Blockchain Platform Inc
6575 West Loop South
Bellaire TX 77401
CareX Blockchain Platform Inc
35 Bastion Street
Toronto ON M5V 0C2
(CareX Development Center)
Scottline Technologies PVT LTD
#2-52/2/24, Plot No.24,
Megha Hills Colony,
Hyderabad, Telangana – 500 081
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