DigiPharm SIGNED

Project "DigiPharm" data sheet

The following table provides information about the project.

 Partnership

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Map

 Project objective

The healthcare is under pressure to spend the resources efficiently and to shift to payments by using a 'value-based' approach, where the price is determined by treatment performance and patient outcomes. However, the transition is hindered by the inadequate infrastructure, the pricing confidentiality issues, and the resistance of some stakeholders against the change. DigiPharm aims to accelerate the value-based healthcare transition with a blockchain-based smart-contracting solution and a highly disruptive business model. The solution, the award-winning DigiPharm platform drastically eases the administrative burden, eliminates errors, and potential frauds in admin operation. As a new element in healthcare, DigiPharm has introduced a cryptocurrency (DPH), as a part of an incentive system. Within the total healthcare market, DigiPharm competes in the healthcare contract management software market that will reach $755M in 2019 with CAGR of 18% in the next years. The solution has raised interest from the UK National Health Service, Roche corporation, the Oman and Dubai Health Authorities, and the Pakistani Government, with whom the company is in negotiation to test the platform. The company would like to launch the full solution in 2022 with a revenue target of €11M by 2026, although they face substantial entry barriers, such as the reluctance to switch from conventional methods and the continued funding need. In order to mitigate the risk of market introduction, Digipharm applies for the SME Tool phase 1 grant to validate DigiPharm’s business viability, asses the further technical development needs, and the update our initial commercialization plan. Currently, ten people are involved in the project development, headed by Ahmed Abdulla, CEO, health economist, an expert at UN/CEFACT, supported by a team of professionals both from the business development area and the value-based healthcare technologies.