22: Dr. James Wong ON: How Bitcoin Can Fix The Cost of Healthcare

In this thrilling episode of The Block Reward, host Scott Dedels sits down with Dr. James Wong to explore a radical paradigm: Bitcoin's potential to overhaul healthcare economics. With the rising costs of prescriptions and the daunting prospect of inflation, discover how Dr. Wong's revolutionary Bitcoin rebates through his startup, NiHowdy, offer a lifeline. Tune in to this episode and learn how a Bitcoin standard could lead to groundbreaking business models, affordability in healthcare, and combat the financial crises threatening our purchasing power—only on The Block Reward | Bitcoin For Beginners.

James Wong is the founder of NiHowdy, a prescription savings card that offers drug rebates in Bitcoin. He is a licensed pharmacist with experience in managing and operating skilled nursing facilities.

Topics Discussed:

• Fiat economics and its negative impact on healthcare outcomes
• Current economic conditions and the diminishing purchasing power
• Bitcoin's usefulness in reducing out-of-pocket prescription costs
• Inflated drug costs due to middlemen and complex money distribution, as well as the potential to reduce costs in industries like travel by eliminating middleman commissions
• The lifecycle of drug pricing changes and impact on consumers
• Industry pressure on pharmaceutical companies to raise drug prices
• Influence of the inflation reduction act on drug pricing and rebates
• Pricing discrepancies for medications across countries
• Impact of inflated drug costs on US versus other countries
• Broken money system and its influence on healthcare sustainability

Timestamps:

04:25 Bitcoin's role in healthcare delivery and challenges.

08:36 Middleman charges significant portion of pharmacy revenue.

11:30 Congress passes Inflation Reduction Act impacting drug costs.

15:05 Government-led grocery price fixing raises economic concerns.

17:21 Bitcoin's deflationary design offers long-term potential.

23:38 Fiat food degrades due to economic pressures.

27:16 Canadians facing suicide and depression linked to economics.

28:57 Drug rebates benefit all except the vulnerable.

35:12 Different drug prices by country, bitcoin's impact.

38:03 Middleman commissions could be replaced by bitcoin.

Episode Resources:

NiHowdy | Website

NiHowdy | YouTube

Dr. James Wong | LinkedIn