ENTREPRENEURSHIP: Universal Health Coin
This article was originally published at The Clubhou.se
theClubhou.se member Gordon Jones seems to have an endless supply of ideas, and a number of them make it into full fledged businesses. His most recent startup is Universal Health Coin. Read below to learn more about this incredible new venture!
1. What is the business?
Universal Health Coin is a Public Benefit Corporation reinventing healthcare finance and payment for everyone utilizing blockchain technology and leveraging the explosive growth of cryptocurrency to arbitrage, decentralize and provide fair payment of health services worldwide.
2. When and where was UHC founded?
While we were incorporated in Delaware back in July 2017, we are headquartered in Augusta, Ga.
3. Where is the business now?
We are working out of theClubhou.se as a healthcare and cybersecurity tech company. We are opening offices in Toronto for partnerships with several of Canada’s “Silicon Valley” and other locations around the globe to serve our blooming customer base.
4. Any significant experiences or skills that influenced your business?
Gordon has his Masters and Doctorate in Health Administration and has spent the last 25 years working to assist physicians and their patients to stay ahead of the curve of controls by the government and insurance industry. Courtney is a pioneer in pay-per-click search founding FindWhat.com back in the mid-90s before Google knew what PPC was as a revenue model. He has been deep into blockchain and crypto-technology since 2013. The mind smash of both of our experiences and knowledge has lead to the development of a very creative solution to the problems of healthcare financing and payment worldwide.
5. Any previous entrepreneurial experience?
Both Gordon and Courtney have extensive business experience in corporate America as well as the startup life. Gordon launched the website Createyourself.com to help people with ideas to get them to market, and he is a co-founder of theClubhou.se.
6. What appeals to you most about entrepreneurship?
UHC is the 16th startup that I have participated in as a founder or co-founder. I, Gordon, love the startup life much more than the 8am to 6pm corporate life where I could even be the CEO, of say, a hospital, but not really be in control of my time and lifestyle. Besides, I have so many ideas on how the world should work that I would drive any employer crazy.
7. How did you get the idea of UHC?
Back in the Spring of 2017, Gordon and Courtney met at a technology conference and started talking about how blockchain could help create efficiencies and stronger cyber protections of data in healthcare. Due to Gordon‘s background in many aspects of healthcare, it was realized that the only way we could truly change everyone’s health status and protect the data was by becoming the payor of health services. By being the payor, UHC can create the systems and motivations that incentivize the health service provider to help UHC members be health-minded from the start. We could also reward our members for becoming responsible for their own health status and provide the coaching tools and community support to get healthy and remain that way for life.
8. How has the idea for UHC progressed?
In our efforts to raise the funding to seed the development of the applications, we have interacted with all types of people and companies in our customer discovery process. More often than not, they have said, “What an excellent idea,” and asked how they can help support our vision and mission. Today, we have over 41 pre-purchasers providing funds and we have had 17 companies come on board to support the development of the UHC platform. We have attracted over 20 professionals across industries as advisors, and we have health-related organizations in 23 countries who are working to bring the UHC model into their communities.
9. How did you fund the business?
The initial business expenses and time contributed have been bootstrapped by Gordon and Courtney. The compensation model for contributors and collaborators is in UHC tokens where they will be able to use their UHC within the system for health services for themselves, family or employees, or make them available for purchase by members within the UHC system. We have recently kicked off a private pre-sale of UHC for friends and family in order to raise up to $5 million to help build the system for a full Token Sale making UHC available to anyone.
10. Who are your main competitors?
Of course, traditional health insurers are our primary competition, but we expect the reduction of health costs by 40% over the government or fully insured plans will overcome those competitive products. Within healthcare, there are many new companies looking to bring blockchain to healthcare. However, we are the only ones focused on healthcare finance and payment through our unique health cost sharing business method. The others, as listed in our white paper, are focused on enabling legacy systems within the health system via blockchain including claims processing, electronic health records, medical interoperability, etc. Our plan is to be an open system and blockchain interoperability engine for all solutions to collaborate. As the payor, we can direct funds to the most efficient and competitive solutions that tie themselves to the UHC system.
11. What does a typical day involve for you? How does that compare to your team?
As a startup team of two with 20 advisors who are working full time on their own ventures, we are the day-to-day operators and taskmen. Once we attain our funding and deploy the technology, we will depend on our collaborators and we will expand the team as the business grows.
12. Best piece of advice?
Stay in constant communication with your partners, collaborators and early supporters. All of these people were attracted to your idea and have lent their name, reputation, experience, and funds to see it succeed. You must keep them up to date and engaged in the whole process!
13. What is next for your business?
We will launch our Token Sale in March, build and deploy the beta version in the Summer, and push a full launch of the UHC system by the 4th quarter of this year. Our projections have been to have one million members within three years, but based upon opinions and requests we may very well have five million members within that time period.
14. How has working out of theClubhou.se benefitted your company?
We love the environment of theClubhou.se! Actually, Courtney lives in Ft. Meyers, Florida, and our advisors are all over the world, so Gordon likes being around other entrepreneurs to bounce ideas off and just co-work with, even though on separate projects. Plus, with four boys at the house, its hard to get any work completed there!
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