What is Osler?
Osler is a new digital currency that is used to pay for healthcare services within the Influence Healthcare network.
Osler is a decentralized cryptocurrency used to fulfill transactions within the Influence Healthcare network.
The digital currency economy is monitored by a peer-to-peer internet protocol to ensure the accuracy and security of transactions.
Osler is an encrypted string of data encoded to denote one unit of currency.
Why a digital currency?
The most powerful dynamic of a digital currency is its ability to empower the value drivers of an industry to enable change. This is what software engineers did with Bitcoin (BTC) and this is what doctors can do with Osler.
How is Osler earned?
The first step towards driving change is to build a movement of physicians who share the vision of taking back control of the profession. To incentivize the movement, 30% of all Osler is being distributed through a viral peer-to-peer registration & referral process.
During registration, doctors will enter into a consulting agreement with Influence Healthcare to build a network of physicians and earn Osler. Consulting services will be earned in dollars and paid in Osler at an exchange rate similar to the initial BTC exchange rate.
Since Osler has little value until the network grows and Osler is used to pay for healthcare services, the earliest adopters will earn Osler at the most favorable exchange rates. Just like early Bitcoin miners were rewarded for their vision in driving change, early Osler physicians will be rewarded for their vision in fixing healthcare.
How does Osler & Influence Healthcare improve the practice of medicine?
The biggest pain point for many doctors today is the excessive administrative requirements that interfere with the actual delivery of patient care. Influence Healthcare minimizes the documentation and coding process by introducing bundled case rates for every care episode. One code is associated with one payment. Doctors only need to document what is needed to describe the care delivered.
For payment, a simple authentication process is introduced where all providers involved in a care episode confirm the care was delivered. Once a care episode is authenticated, smart contracts on the blockchain execute immediate payment in Osler. The entire coding, billing and revenue cycle management process is automated and completed in milliseconds as opposed to months.
This process frees physicians to manage the delivery of more care while minimizing fraud and revenue cycle management expenses. These administrative cost reductions free up money to pay physicians for providing more care. More care provided by physicians improves quality and further reduces costs.
How does Osler fix healthcare?
By driving the adoption of Osler as a currency that allows patients to access a better healthcare system, the value of Osler will increase significantly. This expected increase in value can be harnessed to architect a new healthcare system that solves every major problem in our current healthcare system.
Thrity percent of Osler is being allocated to build a network of physicians interested in joining Influence Healthcare on its mission to change healthcare. The majority of the remaining Osler is being allocated to pools dedicated to eliminating the uninsured, bringing the efficiencies of Influence Healthcare to Medicare, Medicaid and TRICARE, increasing access, covering expensive new technologies, preparing for pandemics, increasing medical education and many others.
As the value of Osler increases, the pools will have significant financial resources to address the major challenges our current healthcare system cannot address alone. Any increase in the value of Osler is new money available to fix healthcare.
How does Osler increase in value?
The value of any currency is directly correlated to the value of what backs the currency. The U.S. Dollar has the highest value because it is backed by the U.S. government which represents the largest and most stable economy in the world. The currencies of most major countries dwarf the value of every digital currency because they are backed by sovereign governments and use cases are unlimited. Bitcoin is the most valuable digital currency today, but its use case of anonymous payments is fairly limited.
Osler is backed by the use case of access to healthcare services. If the size of the healthcare market in the U.S. is ranked in comparison to the size of the entire economies of sovereign countries, the U.S. healthcare market by itself would rank as the fifth largest economy in the world, behind only the economies of the U.S., China, Japan and Germany. As such, Osler has the potential to achieve the value of a sovereign backed currency as more and more healthcare services transact on the Osler platform.
BTC Market Value and Exchange Rate
The power of increasing value in Osler to change healthcare cannot be overstated. For context, the first published exchange rate between BTC and the U.S. Dollar was posted in October of 2009 and set $1 as being equivalent to 1,309.03 BTC, giving BTC a market cap of just over $16,000. At BTC’s current exchange rate of around $10,000, the 1,309.03 BTC is worth approximately $13 million today and the $16,000 market cap has grown to $210 billion. The initial exchange rate for Osler is being designed to model the initial exchange rate of BTC. As the amount of healthcare services being transacted in Osler grows, the value of Osler will grow, and the pools of Osler allocated to fixing healthcare will have the resources needed to fulfill their mission.