Congratulations to H2i International venture Snark Health, for their recent feature in Euronews and their selection to participate in the World Health Innovation Forum (WHIF) Fellowship!
Kenyan venture Snark Health is creating a new way to pay for healthcare, through their alternative payment model which uses data assets, digital assets and narrow networks. Snark Health uses their Hippocratic Coin® alternative payment model with ‘data as a common resource’ using blockchain technology, liquidity pools and a trusted payment network, without the need for governmental or commercial healthcare insurance. As a convener, they bring together multiple entities, facilitate coordination, and bear financial risks.
Patients requiring medical attention can log onto the Snark Health app to be connected to doctors for diagnosis and treatment. Once in the app, they have the choice to participate in the data monetization program, to pay using earned Hippocratic Coin®, or pay for their service directly via money transfer. By participating in the data program, patients earn a third of the sale of their anonymized data, facilitated by Snark Health.
Through their app’s innovative payment model and ‘data as a common source’ approach, the Snark Health team is improving access to quick and effective medical care for all.
In further news, Co-Founder and CTO, Edwin Lubanga, is currently in India for the next six months as part of the World Health Innovation Forum (WHIF) Fellowship. Looking ahead Snark Health is partnering with the World Health Organization and Kalam Institute of Health Technology (a WHO Collaborating Center) as they enter the B2G market and start selling their innovation to governments. Further, they are raising $75M for a data center, market entry into India, and entering risk-based contracts with governmental payers.
Learn more about Snark Health in their recent feature article in Euronews here, and on their website.