The "What is Money?" Show

Bitcoin and the Crisis in Healthcare with Andy Schoonover (WiM321)

15 snips
Jun 2, 2023
Andy Schoonover, Founder and CEO of CrowdHealth, joins the podcast to discuss the healthcare crisis, how CrowdHealth provides better health insurance, and why Bitcoin is the ultimate medium of truth. They talk about the inefficiencies of the current healthcare system, the need for change in healthcare payment systems, and the benefits of using Bitcoin in healthcare. They also highlight the importance of prioritizing patient well-being over revenue in healthcare organizations.
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INSIGHT

Healthcare System is Broken

  • The US healthcare system is broken and causes financial stress despite insurance coverage.
  • The complexity and inefficiency of health insurance creates fear and confusion for patients.
INSIGHT

CrowdHealth's Peer-to-Peer Model

  • CrowdHealth uses a subscription model that pools member funds to directly pay medical bills.
  • This peer-to-peer funding cuts insurance overhead and achieves better pricing for healthcare services.
INSIGHT

Bitcoin Integration in Healthcare

  • CrowdHealth plans to integrate Bitcoin and Lightning Network payments to hold funds and pay providers.
  • Using Bitcoin can reduce inflation loss and create a circular bitcoin economy in healthcare.
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