Snark Health utilizes the Hippocratic Coin alternative payment model, allowing patients to pay for healthcare services using their personal data. This approach enhances access to medical care while reducing out-of-pocket expenses for users in Kenya.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals in Kenya lack affordable access to essential healthcare services due to financial constraints and the absence of health insurance. Traditional payment models create barriers, preventing individuals from seeking timely medical attention.
Solution
Snark Health offers an alternative payment model called Hippocratic Coin, enabling patients to pay for healthcare services using their personal data. Through at-risk contracting, liquidity pools, and a "data as a common resource" approach, Snark Health aims to improve access to essential health services and lower costs for patients. The platform allows patients to pay a sliding scale, potentially down to $0, to consult with a doctor, creating a novel health savings vehicle without requiring traditional health insurance. Doctors can also earn Hippocratic Coin, particularly when patients pay $0 for consultations, incentivizing participation and expanding healthcare access.
Target Audience
The primary target audience includes Kenyan individuals who lack affordable access to healthcare services and medical professionals seeking to expand their patient base and explore alternative payment models.
Features
- Mobile applications for both patients and doctors to facilitate consultations and data sharing.
- Hippocratic Coin payment model allowing patients to use personal data to offset healthcare costs.
- Sliding scale payment system enabling patients to pay as little as $0 for consultations.
- Data monetization model that compensates doctors and Snark Health for the use of patient data.
- At-risk contracting and liquidity pools to ensure financial sustainability of the payment model.
- Health savings vehicle that operates outside of traditional health insurance frameworks.