Bitcoin and the Crisis in Healthcare with Andy Schoonover (WiM321)
Jun 2, 2023
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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.
Crowd Health disrupts traditional healthcare by offering alternative health insurance with a peer-to-peer funding model.
Traditional health insurance systems suffer from inefficiencies and lack of transparency, prioritizing profits over patient care.
Bitcoin technology in healthcare can provide a transparent and efficient payment system, aligning with the principles of personal responsibility and community care.
Deep dives
Disrupting the traditional healthcare system
Crowd Health aims to disrupt the traditional healthcare system by offering an alternative to traditional health insurance. They charge a monthly subscription fee and use a peer-to-peer funding model to help members pay for their healthcare expenses. By eliminating the need for networks, Crowd Health allows members to choose any doctor they want, and they negotiate better prices for services by paying in cash. This model aligns incentives, as Crowd Health has an incentive to find quality doctors at affordable prices and fight for their members' bills to get paid.
The inefficiency of traditional health insurance
The current health insurance system is plagued by inefficiencies and lack of transparency. Traditional health insurance plans have complex networks, high costs, and limited choices for patients. Doctors spend a minimal amount of time with patients, and treatments often come with high and unpredictable costs. Additionally, health insurance companies may try to avoid paying bills, which creates uncertainty and financial burden for patients. These problems arise due to the misalignment of incentives, where health insurance companies prioritize profits over patient care.
The power of Bitcoin and the Bitcoin community
Bitcoin and the Bitcoin community offer a unique solution to the problems of the traditional healthcare system. By utilizing Bitcoin technology, Crowd Health provides its members with a transparent and efficient way to fund their healthcare expenses. The Bitcoin ethos of personal responsibility and caring for the community resonates with Crowd Health's approach. Members can receive care from doctors who appreciate cash payments and offer discounts. The elimination of health insurance intermediaries also reduces costs and improves the doctor-patient relationship. Through the use of Bitcoin and the principles it embodies, Crowd Health aims to revolutionize the healthcare industry.
Bitcoin as an Alternative to Fiat in Health Insurance
The podcast discusses the idea of allowing people to hold bitcoin instead of fiat for health insurance payments. By giving individuals a bitcoin alternative, the value of fiat that is constantly decreasing due to inflation can be replaced with a stable and potentially appreciating asset. The use of bitcoin in healthcare can lead to a more efficient payment system and potentially increase the value and utility of bitcoin in general.
Bitcoin and Healthcare Providers
The discussion highlights the importance of finding healthcare providers who are aligned with bitcoin principles and offer value-based and patient-centric care. The podcast emphasizes the significance of doctors who prioritize nutrition and ancestral diets over traditional medical practices. By encouraging bitcoiners to seek out and support these bitcoin-friendly doctors and by building a network of such providers, better healthcare outcomes can be achieved while challenging the conventional medical industrial complex.
Andy Schoonover joins me to discuss the healthcare crisis, how CrowdHealth provides better health insurance, and why Bitcoin is the ultimate medium of truth.
Andy Schoonover is the founder and CEO of CrowdHealth.
// OUTLINE // 00:00:00 - Coming up 00:00:47 - Intro 00:02:20 - Helping Lightning Startups with In Wolf's Clothing 00:03:06 - Introducing Andy Schoonover 00:03:30 - What is the Mission of CrowdHealth 00:05:32 - Fiat Money is the Main Reason for the Healthcare Crisis 00:07:42 - The Problem with Health Insurance 00:10:25 - A Different Business Model by CrowdHealth 00:13:35 - Providing a Better Healthcare Network for the People 00:16:25 - The Nightmare of Healthcare Services 00:17:38 - The Health Maintenance Organization Act of 1973 00:19:36 - Consumers are Confused about Healthcare 00:21:59 - Maximize Your Profits with Gold Investment Letter 00:22:55 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet 00:23:51 - Take Control of Your Healthcare with CrowdHealth 00:24:53 - The Bitcoin Alternative for Healthcare System 00:26:31 - How CrowdHealth Integrates Bitcoin Technology 00:28:12 - Advantages of a Bitcoin-Based Health Insurance 00:31:23 - Connecting the Bitcoin Community with Healthcare System 00:33:44 - Bad Nutrition is a Key Factor in Developing Chronic Diseases 00:37:28 - Taking Personal Responsibility 00:38:41 - Andy's Own Experience of Using CrowdHealth 00:43:50 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 00:44:42 - Hold Bitcoin in the Most Secure Custody Model with Casa 00:45:30 - Fiat Health Insurance vs. Bitcoin Health Insurance 00:47:12 - The Numbers-Driven Healthcare System 00:50:00 - Additional Features of CrowdHealth Service 00:54:00 - Andy Schoonover on Bitcoin 2023 and Zuby 00:55:22 - Bitcoin Community Needs More Missionary People 00:57:17- People are influenced by the Attributes of Money 00:59:12 - Bitcoin is the Medium of Truth 01:02:23 - Where to Find Andy on the Internet
