[REVIEW] DIGIPHARM (Blockchain technology is health-based)

|INTRODUCTION

Digipharms Solutions aimed at speeding up the restructuring of much needed healthcare delivery. systems to this value-based approach. The current shortage of the global health infrastructure results in substantial inefficiencies, wasted and least optimal health outcomes

In the current health sector, there is a lack of incentives for system health and service providers to focus on mutually beneficial collaboration

Website :https://www.digipharm.ch/

Digipharm aims to utilise innovative blockchain technology to overcome barriers to patient access and innovative pricing, reduce costs for all stakeholders, and bypass infrastructural limitations to drive value improvement, incentivise innovation and expedite the transformation to personalised healthcare.

|VISION DIGIPHARM

Digipharms’ vision is to be ‘the pioneer of value-based healthcare delivery, innovative evidence generation and patient empowerment across the healthcare industry’ using revolutionary blockchain technology

|PROBLEM AND SOLUTION

PROBLEM

Barriers to innovative pricing and ‘paying for performance’

Healthcare systems are often required to make the difficult decision of whether to reimburse costly pharmacological therapies and provide access for patients while taking into account their limited resources. Innovative pricing approaches have the ability to overcome the challenges faced by healthcare systems when assessing the funding of new drugs, to enable the implementation of ‘flexible’ pricing schemes to assess the price of treatment in relation to the benefits it delivers. Unfortunately, healthcare systems around the world lack the relevant infrastructure to track and implement innovative pricing models such as value-based pricing agreements, and so are reluctant to adopt such innovative policies. This results in novel pharmacological therapies being denied to patients who are most at need, an opportunity missed to decrease the long term economic and disease burden on health systems, and a barrier to reimbursement for manufacturers.

Limitations of conventional real world evidence

Real world evidence (RWE) is playing an increasingly influential role in informing decision making within the healthcare industry and is crucial to informing value-based healthcare. Yet the delay of RWE outputs, the expenses of data access and the current methods of data collection negate many of the benefits of utilising these rich data resources. The lack of easily accessible and comprehensive RWE currently prevents stakeholders in healthcare to evaluate the real time performance and value provided by therapy in real life clinical practice as part of a value-based healthcare delivery system.

SOLUTION

Reimburse

The Reimburse platform harnesses the benefits of automated ‘smart contracts’ and blockchain technology; facilitating the application of truly dynamic innovative pricing solutions between healthcare systems and manufacturers, in a secure and compliant fashion with minimal administrative burden. Use of the Reimburse platform will expedite integration, coordination and delivery of patient centric healthcare systems with a focus on improving patient outcomes while accelerating ‘payment for value‘ mechanisms between payers and manufacturers using neutrally-enforceable agreements in a peer to peer fashion.

Insights

The Insights platform will extract anonymised patient level data from the Reimburse platform and health information systems to the world’s first ‘live’ RWE database. Insights will provide a symbiotic solution with Reimburse to complement the progressive transformation towards value-based healthcare delivery systems. The development of a ‘live’ evidence repository will allow the integration of knowledge back into the delivery system in real time to facilitate decision making, drug development and health related research. Patients will be incentivised to contribute their health information to the Insights platform and will gain access to valuable health information that is currently unattainable.

|Market potential

The Reimburse platform has huge potential for uptake, with the possibility of being the premier platform for innovative pricing solutions for every therapy that receives regulatory approval. There is currently no comparative platform available that can provide the scalable dynamic pricing solutions to facilitate funding solutions between manufacturers and payers.

As pharmaceutical innovation develops further, it is expected that hundreds of novel agents will be approved over the next 5 years. There are over 7,000 drugs in clinical development across the world, more than ever seen before (PhRMA 2017); with over 450 new clinical trials starting in 2017 alone (Reuters 2017). Experts estimate that of the 7000 drugs in development there are approximately 70% that have the potential to be first in class. Furthermore, individual drugs are being investigated in multiple disease areas to find populations that will benefit from treatment. In some disease areas, combining multiple innovative drugs to support the best possible outcomes for patients is being actively investigated (for example, to treat cancer). With such high levels of innovation poised to deliver unparalleled benefits for patients, healthcare systems and manufacturers will need to work together to agree suitable innovative pricing solutions.

Cancer drugs have been the most researched in recent years and are driving the growth in the pharmaceutical drugs pipeline. This poses a considerable challenge as these drugs often bring with them a high price tag that accounts for the benefits they bring. The cost of patented cancer drugs in the US alone have increased by 5-10 fold since the turn of the century, with the average cost of drug therapy being around $100,000 per year with patients commonly responsible for 20-30% as co-payments (Kantarijan et al 2014). High prices for innovative therapy that may or may not work can result in patients refusing treatment or selecting less optimal treatment plans due to the financial difficulties they may incur (Zafar et al 2013). In the US, leading payers namely UnitedHealth group, Aetna and Anthem have nearly reached their current target of 50% of total annual healthcare spend through value-based care and simple ‘pay for performance’ agreements (Forbes 2017). Aetna seek to lead the industry with a target of 75% value-based expenditure model by 2020, as they hope to build on their current initiatives to improve quality of care and lower costs at the same time (Forbes 2017; Bach & Pearson 2015).

Therefore, the potential of the Reimburse platform is tremendous as it will be able to support smart contracts for both new and existing treatments as healthcare systems across the globe continue pushing the transformation to value-based care.

|Blockchain technology & smart contract application

Blockchain is a distributed database technology, most recognized for being the backbone of digital currency platforms such as the Bitcoin and Ethereum networks. Smart contracts are self-executing pieces of code that digitally facilitate, verify or enforce the terms of a predetermined agreement. These contracts allow transactions to be carried out between parties anonymously with no need for external enforcement or action. All transactions based on smart contracts are published to the blockchains ledger and provide both transparency and immutability. Within the DPH health economy, the following characteristics of blockchain technology are utilised:

Smart contracts
Private Channels
Digital Identity Services

Smart contracts

Smart contracts will be used to facilitate innovative pricing agreements and data exchange between healthcare stakeholders.

Private channels on a fully independent platform

Due to the nature of both the confidential pricing agreements between stakeholders and sensitive patient data, secure channels on the Digipharm private blockchain will be utilised to transmit sensitive information and to meet all compliance, regulatory and data protection laws.

Digital identity services

Digital identity services provided by the blockchain will be utilised to create profiles for enrolled patients and other stakeholders while maintaining anonymity within each platform.

|Digipharm tokens

DPH token use

Digipharm (DPH) tokens will be used to pay license/access fees on Digipharm platforms. Access fees will invariably be determined and stipulated in USD value and the quantity of tokens required will depend on the type of access (manufacturer, patient, payer or provider) combined with the form of interaction required. The quantity of tokens required for such interactions is subject to change, relative to the market value of DPH.

Reimburse

Reimburse:

Payers/manufacturers will be required to use DPH tokens to initiate or execute smart contracts within the Reimburse module and to enrol individual patients on these smart contracts, i.e. DPH tokens will be used to facilitate the process of annexing patients to innovative pricing and reimbursement agreements.

Insights

Insights:

DPH will be used as the utility token to power each interaction with the Insights database by healthcare stakeholders i.e. DPH tokens will be used for access rights or specific data requests from the Insights platform.

DPH token characteristics

DPH Supply: 100,000,000 Fixed (ERC-20)
Ticker code: DPH
Decimal Places: 18
Token Price 1.00 USD

DPH token sale Information

Pre - Sale: 15,000,000 DPH
Base Price: 1.00 USD
Pre - Sale Length: 4 Weeks
Pre - Sale Discount: 35%
Main Sale: 50,000,000 DPH
Week 1: 25% Frozen 25 million tokens
Week 2: 15% Frozen 15 million tokens
Week 3: 10% Frozen 10 million tokens

Week 4: 1.00 USD

DPH token sale Information

|Funding usage and token distribution

|Commitment to charitable causes

0.5% of ICO proceeds will be allocated to the Digipharm charitable foundation (to be established) with the goal to develop sustainable health related services in third world countries. Digipharm will further commit 2.5% of net profits per annum towards the charitable foundation. If the foundation cannot be established due to regulatory or legal reasons, Digipharm intends to allocated the above mentioned funds to a third party foundation with similar goals.

OUR TEAM

[REVIEW] DIGIPHARM (Blockchain technology is health-based)

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