Healthcare in the Metaverse – InsuranceNewsNet

0

Advancements in healthcare are happening all around us every day. Disruptors in the healthcare industry are consistently creating ways to save money, guide people to better outcomes, provide easier access to healthcare, and encourage healthier lifestyles.

One of the most significant advances that has emerged was that Decentralized autonomous organization. DAOs are global, member-run communities where a centralized government does not set rules and structure. Healthcare DAOs are the latest step in a bold move to not only define a new blueprint for the metaverse, but to create a more efficient and cost-effective healthcare system.

What is a health DAO structure?

In more traditional business structures, the organization is typically created in a “top-down” format. The corporate structure extends from the CEO through upper management, middle management and finally down to the lowest non-management level.

In a DAO structure, however, users, developers, experts, and management work together without a centralized, ultimate authority. Instead, the organization is owned and run by members of their community. Decisions are made collectively as there is no hierarchy and the DAO works via smart contracts based on blockchain technology. This structure enables Actions are viewed by the DAO as transparent, auditable, and—ultimately—approved or unapproved by the organization’s community members.

Rethink healthcare

The healthcare industry has remained relatively unchanged for many years. Even with the introduction of Affordable Care Act In 2010, many people are used to the traditional processes of accessing, paying for, and interacting with healthcare professionals. Newly launched healthcare DAOs aim to turn this status quo on its head and offer consumers a new approach to health and well-being.

The DAO platform brings patients and healthcare professionals together in a collaborative metaversal space. By creating secure, open marketplaces to define the services and access to digital healthcare solutions, healthcare DAOs are working to make healthcare access more inclusive, less cumbersome and more cost-effective for users.

The benefits of a health DAO

Consumers are aware of the injustices in the traditional healthcare business structure. The high salaries of healthcare CEOs are a stark reminder that in a conventional healthcare landscape, power rests in the hands of a select few. People feel a remarkable lack of control over their health and well-being when insurance companies and healthcare organizations set all the rules.

The Healthcare DAO introduces a more personalized approach to healthcare. For example, NFT membership tiers offered by healthcare DAO companies that are entering the market are redefining how members can access and interact with the healthcare system.

Insurance companies might ask, “What’s in it for us?” DAOs and the Metaverse can be confusing, especially for companies operating in an established industry like health insurance. Anyway, past studies have shown that promoting a healthier population is one of the best ways to reduce healthcare costs across the board for consumers and healthcare companies.

Bringing healthcare into the metaverse via a healthcare DAO brings health and wellness directly to the consumer. It removes barriers that people encounter in a traditional healthcare system – prohibitive costs, inconvenience, discomfort and lack of holistic support.

Additionally, the gamification opportunities offered in the Metaverse allow for educational interaction and the promotion of preventive, health-enhancing rewards, such as: B. a Health for Wealth system.

The limitations and barriers to healthcare typical of a traditional healthcare system do not lead to a healthier population. it is statistical It’s obvious that relying on how things were “always done” just doesn’t work. healthcare spending in the US higher than in most peer countriesbut our overall health and well-being scores are lower.

We have high levels of chronic disease and obesity in our population, resulting in increased costs for both consumers and insurance companies. The old ways don’t lead to the best results.

Healthcare DAOs are bringing a needed disruption to the industry and showing a different path to better outcomes and cost savings. The adoption of this new approach also benefits the entire physical healthcare fabric by relieving the medical patient flow. Studies have shown that almost 70% of medical problems can be diagnosed without visiting a healthcare facility.

People have taken a broader interest in controlling their healthcare in recent years. Have virtual telemedicine and personalized concierge healthcare services slowly becoming the norm. A move to the Metaverse is the next logical step for many. Healthcare DAOs are an innovation designed to improve access to healthcare and patient autonomy across the board.

Helene Blanchette is co-founder of MMDAO and MyMedV. She can be contacted at [email protected].

All content © Copyright 2022 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the express written permission of InsuranceNewsNet.com.

Share.

Comments are closed.