Vidamints aims to align the healthcare ecosystem and empower patients to take a proactive approach to improving their health. Find out how it works today in our review.
What is Vidamints?
Vidamints, found online at Vidamints.com, is a currency used for a blockchain-based health records management system called MintHealth. The platform uses blockchain technology to provide patients with a global, holistic record of their medical and behavioral data.
Using Vidamints, patients can seamlessly share medical records with doctors, hospitals, urgent care facilities, friends, and family. All data is protected by the blockchain, while smart contracts ensure HIPAA compliancy.
The ecosystem revolves around the use of VIDA tokens, or Vidamints. To be clear, Vidamints are the utility token, while MintHealth is the health data management platform.
What Problems Does Vidamints Seek to Solve?
MintHealth seeks to solve many of the same problems faced by other electronic health record management services. The overall goal is to improve patient outcomes in an efficient way. Some of the specific problems identified by the MintHealth whitepaper include:
We have a chronic disease epidemic, and 40 million out of the 56 million annual deaths worldwide are linked to chronic conditions.
80% of heart disease, diabetes, and stroke cases are preventable, along with 40% of cancer cases.
Global aging is a major contributor to the chronic disease epidemic. In the United States, for example, over 3.5 million seniors are turning 65 every year, and 90% of seniors have at least one chronic condition. There’s a healthcare crisis on the horizon.
The Medical Industry:
The medical industry spends vast resources battling the complications of these diseases instead of preventing them.
Fragmented Patient Data:
Patient data is fragmented and spread across multiple data siloes. The data cannot educate or empower patients to be more proactive about their own health.
The end result of all of these problems is that patients have poor outcomes. These poor outcomes are unsustainable for global healthcare costs.
How Does MintHealth Work?
MintHealth is a global, decentralized platform that aims to align healthcare stakeholders around a unified goal of patient empowerment and improved clinical outcomes at lower costs.
MintHealth describes its system as a self-sovereign health record. That means patients have control over their own health record. They own a global, holistic, personal record of their medical and behavioral data, and they can choose to share that data with whomever they wish – like specific doctors, clinics, family, or friends.
Some of the key features of the platform include:
- Allows patients to seamlessly share their medical records with doctors, hospitals, urgent care facilities, friends, and family in a secure, permissible, HIPAA compliant environment
- Secures clinical, behavioral, and medical imaging data in a personal health record protected by the blockchain
- Permission for data access is granted by patients via smart contracts
- Provides a global HIPAA log for all patient data transactions in an immutable, open-sourced format
The MintHealth platform will consist of two key components, including a mobile and web app for patients, and a mobile and web app for providers. Patients can use the app to interact with healthcare professionals or to view gamified incentives powered by VIDA tokens. Healthcare providers, meanwhile, can use their app to view medical data and images – like when patients grant providers with access to their data.
How Do Vidamints Token Work?
MintHealth is the platform, and Vidamints are the digital tokens for that platform. VIDA tokens are used to engage patients with daily, highly personalized activities that improve health and lower insurance costs. In other words, patients receive rewards in exchange for participating in healthy daily activities.
Some of the possible uses for Vidamints tokens include:
- Doctors assign healthy behaviors based on the patient’s unique, unified health record
- Doctor guidance, social support, and gamification are used to drive engagement
- VIDA tokens reward and incentivize patients for completing healthy behaviors
- Healthier patient populations drive down costs for insurance carriers
- An ecosystem of partners that allow patients to redeem VIDA tokens for tiered discounts on insurance premiums and healthcare goods and services
- Patients vote on ecosystem data use policies
- Pharma, medical device, and research institutions can leverage MintHealth’s growing dataset for research and development, paying patients for access to their data
- Patients receive VIDA tokens as a reward for sharing data to improve healthcare
Overall, VIDA tokens are used to establish the patient’s self-sovereign health identity, to incentivize healthy patient behaviors, to compensate doctors for improved health outcomes, and to power a health data sharing economy.
One of the unique things about VIDA tokens is that VIDA tokens are burned every time a new patient joins the ecosystem. This is expected to fuel demand for the token – along with support from healthcare providers and big pharmaceutical companies.
The Vidamints Token Sale
MintHealth is creating 897,625,000 Vidamint tokens (VIDA) to launch their project. VIDA tokens are ERC20 tokens built on the Ethereum blockchain.
Out of the total supply of tokens, 460 million VIDA are reserved for the token sale, 200 million are time-locked tokens, 83.625 million are pre-mine sale tokens, 150 million are market seeding tokens, and 4 million are reserved for bounties.
A total of 83,625,000 tokens are available during a pre-mine event at a list price of $0.12 USD per token. That event is scheduled to end in January 2018.
Meanwhile, the token sale for VIDA tokens is scheduled to begin in Q1 2018. The token sale will have a hard cap of $55.2 million and a minimum financing target of $15 million. The tokens will be listed at a price of $0.12 per token.
Who’s Behind MintHealth?
MintHealth is being developed by a company called MintHealth, Inc. The team has previously created platforms like MD Revolution and NucleusHealth. MD Revolution is a tech-enabled services platform for Medicare’s chronic care management platform, while NucleusHealth is a cloud data and image management platform. With MintHealth, the team combined both of these platforms into a blockchain-based ecosystem.
Key members include Dr. Samir Damani (Founder and CEO), founder of MD Revolution, as well as Dr. Vishal Verma (Founder and President), founder of NucleusHealth. MintHealth, Inc. is based in San Diego, California. Overall, the company’s leadership team has over 200 years of combined experience in the field.
MintHealth is one of several companies seeking to revolutionize the electronic health record (EHR) industry through the use of blockchain technology and digital tokens. MintHealth uses Vidamint tokens (VIDA) to incentivize patients to engage in healthy behavior. Patients can also selectively share data through the platform, while researchers can buy patient data through the platform.
To learn more about MintHealth, visit online today at Vidamints.com. The token sale is scheduled to begin in Q1 2018.