Overview

WELL is building an AirBnB of healthcare – curated marketplace of doctors and medical services powered by blockchain and accessible via mobile telemed and offline locations.

Project stage

Beta version

Detailed description

WELL is a decentralized global healthcare network built on Ethereum blockchain and smart contracts (the “WELL platform” or “platform”). The WELL platform is designed to disrupt and replace traditional healthcare models by providing easy access for patients anywhere in the world to receive remote diagnoses, second opinions, and preparation for in-person treatment from a curated group of the best medical professionals in the world.

WELL allows patients to take control of their care delivery, whether at home with concierge services (personal assistant) or anywhere with telehealth services. Giving patients control helps everyone, since patient engagement translates to better outcomes and reduces overall care costs.>

Problem

Access to medical services - either very expensive or physically inaccessible
Access to quality medical services is either very expensive or difficult due to a number of factors such as distance patients must travel, bureaucratic complexities, and inefficient insurance and medical systems. A patient may need access to healthcare from another city, or even another country, with high-class specialists who speak the patient's native language

Cross-border payment for healthcare services
Many countries have byzantine laws preventing citizens from making out-of-country payments. When allowed, payments often take days and cost a significant portion of the amounts processed. Additionally, payment can be stopped, significantly increasing risk of non-payment. A lot of clinicians also face risk of non-payment due to non-compliance of paperwork or procedures.

Insurance verification and payment or denial
Healthcare insurance payers have complicated billing requirements and often deny and delay claim payment. Additionally, many healthcare providers experience significant cash flow difficulties due to claim denials.

Access to highest quality care and medical opinion
In many countries, patients get just a few minutes with a healthcare specialist, making correct diagnosis and treatment difficult. It also takes a lot of connections, money, time, and effort to procure the best care.

Record keeping and security
All healthcare has significant recordkeeping requirements; however, concierge and cross-country healthcare has even more documentation issues. Concierge clinicians must maintain all of their own paperwork. Home healthcare records, often kept on paper and faxed or mailed, frequently become lost, thus resulting in incorrect billing or non-payment. Additionally, HIPAA violations may occur in processing.

Complexity
Due to the extreme fragmentation and decentralization of healthcare, its value chain is complicated and full of friction and excess costs, from insurance company to clinician to patient.

Fraud
Fraud is an ever-increasing problem in healthcare. The U.S. Justice Department discovered $900 million in false billing in 2016 alone. The Medicare Fraud Strike Force, part of a joint initiative between the Department of Justice and the Department of Health and Human Services, formed in 2007 and has carried out takedowns resulting in more than $3.5 billion in health care fraud.

Reputation
Global healthcare, as a super-fragmented and decentralized industry, suffers from lack of verifiable reputation. It’s easier to cheat and not suffer reputational consequences in a big city versus a small town.

Solution

Access to medical services - either very expensive or physically inaccessible
WELL clients receive access to healthcare service 24 hours a day, 365 days a year, wherever they are. WELL’s services transcend boundaries because of its developed global network of doctors (therapists, psychologists, surgeons, and other specialists) who speak many common world languages. WELL aggregates and even develops medical professionals in regions with high medical demands

Cross-border payment for healthcare services
By using WELL tokens, WELL allows users to send and receive payment in minutes, eliminating risk of nonpayment and costing a tiny fraction of the total.

Insurance verification and payment or denial
WELL blockchain will facilitate immediate fund transfer into escrow accounts. All constituents can manage escrow accounts through smart contracts, immutably releasing payments upon completion and approval of milestones such as visits, paperwork completion, invoicing, etc.

Access to highest quality care and medical opinion
WELL removes these barriers by connecting patients in any country to healthcare specialists in any country via global telemedicine and local concierge service.

Record keeping and security
The WELL recordkeeping app will allow for simplified electronic record creation and store this data on a decentralized anonymized network that is significantly harder to hack and leak.

Complexity
We agree with Andy and think that the way to build a simple yet reliable full stack platform in healthcare is through blockchain. The WELL system will eliminate points of potential breakdown. WELL smart contracts will (a) ensure that transitions occur smoothly and (b) keep immutable records of actions taken by all constituents.<

Fraud
WELL requires proof-of-work, time / location stamping of actual care, and undisputed hash records of all steps of a given patient’s service, from referral to billing. This documentation eliminates fraud as well as Stark and AntiKickback Law violations and abuses.

Reputation
Because the WELL network will record all transactions, positive actions improve a user’s reputation. The risk of a negative review motivates all parties to remain honest. WELL’s blockchain-based decentralized network will provide a platform for the next generation of peer-topeer (P2P) healthcare apps to support and record all constituent interactions in the healthcare value chain, with proof of completion and compliance at each step.

Features

  • WELL network’s frictionless transactions encourages engagement and growth
  • Working product and fast-growing network of patients and doctors
  • Ability for crypto investors to diversify their holdings to include a token that can be used to benefit not only their own health, but the health of their loved ones
  • Global reach and the multilingual capabilities of the platform
  • Free distribution of the platform and strong social mission which empowers nonprofits
  • Limited issuance of WELL tokens
  • Wide variety of token usage within the system which creates a high-demand for tokens
  • Possibility of partnerships with government institutions and other profitable business models
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Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : WELL
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 28,000,000 USD
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :3,000,000 USD
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :1,500,000,000 WELL
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :NA
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :BCH, BTC, ETH, FIAT, LTC,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :China, Singapore, USA,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA
      • Token Distribution

    Sale schedule

    Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
    Public sale — Ended
    26 Jun 00:00 UTC
    30 Jun 00:00 UTC
    0.1 USD 5% - 25% Min 1000 USD 3,000,000 USD 28,000,000 USD
    Public pre-sale — Ended
    16 Apr 00:00 UTC
    26 Jun 00:00 UTC
    0.1 USD 20% - Uncapped Uncapped
    Public sale

    April 16:  25% 

    April 17 - April 22: 20% 

    April 23 - April 29: 10% 

    April 30 - May 6: 5% 

    May 7 - May 15: 0%

    Read more about vesting and bonus
    • Team

      • Ildar Fazulyanov photo
        Ildar Fazulyanov
        Founder and CEO
      • Dmitry Semenov photo
        Dmitry Semenov
        Development Team Lead
      • Matthew Lefferman photo
        Matthew Lefferman
        Clinical Director
      • Alex Prokhorov photo
        Alex Prokhorov
        Co-founder
      • Roque Espinal-Valdez photo
        Roque Espinal-Valdez
        CMIO
      • "PEERCHEMIST" photo
        "PEERCHEMIST"
        Project Manager
      • Chris Bright photo
        Chris Bright
        Lead Software Developer
    • Advisors

      • "PEERCHEMIST"
      • Tomoaki Sato
      • Paul Brown
        Healthcare Investor & Advisor
      • Brian Hansen
        SVP Emerging Businesses, Ancestry.com
      • Harry Nelson
        Healthcare Legal Adviser
      • Robert Zimmerman
        IT Security Adviser
      • Angelo Dodaro
      • Marty Tate
        ICO Legal Adviser
      • Akin Sawyerr
      • "PEERCHEMIST"
        PR Adviser
      • "PEERCHEMIST"
      • Christopher J Kramer

    Roadmap

    • Q1 2015

      Ildar, founder, re-breaks his leg; WELL platform software design begins

    • Q2 2015

      Well, Inc. incorporates in Delaware

    • Q2-Q3 2015

      Platform launches, gains first customers and revenue

    • Q1-Q2 2016

      Platform releases on limited trial

    • Q2-Q3 2017

      WELL receives Medicare license

    • Q3 2017

      U.S. Patent and Trademark Office approves WELL trademark

    • Q4 2017

      WELL successfully sells out $3 million in private pre-sale

    • Dec 2017

      Whitelist sale

    • Feb 2018

      Telehealth platform release

    • April 16 2018

      Crowdsale

    • Q2 2018

      Telehealth platform deploys to U.S. self-insured employers and clinics

    • Q4 2018
      • Blockchain releases for sandbox and bug testing bounty campaign
      • Blockchain platform releases for medical tourism, second opinions, and charity
    • 2019
      • Partnerships with government medical agencies (example, Estonia's healthcare system)
      • Launch blockchain group buying plan; work on U.S. health savings account
      • Integrate blockchain with all major U.S. insurance providers
      • Form partnerships with Japan, Korea, and China
    • 2020
      • Goal: 1 million visits conducted per month
      • Continue global integration with insurance and governmental healthcare systems

    Activity