Dentacoin believes that the current structure of the dental industry does not encourage efficiency nor does it incentivize dentists to prevent serious dental conditions. $440 billion on dental treatments are spent yearly, and according to the ADA, the majority of these expenses could be avoided if timely treatment had been provided. Specifically, if patients have three checkups and cleanings performed per year the this cost could be drastically reduced. This process would result in healthier dental health as well as an increase in public participation in routine professional dental care. Dentacoin hopes to put the patient first again.
Dentacoin aims to create a world where dentists are incentivized and compensated for improving your dental health in the long term, rather than performing surgeries and other invasive and uncomfortable procedures in the short term as a result of a lack of previous dental care. Dentacoin hopes to provide improved trust and a more efficient relationship between doctor and patient.
How Does Dentacoin Work?
Dentacoin aims to provide a token that powers an ecosystem of dental practitioners and patients that are mutually incentivized to participate honestly and authentically. Dentacoin is planning to provide a review platform for dental practitioners, a more efficient means of managing insurance and dental care, as well as creating a decentralized database of healthcare records. All of these aspects, as well as a mobile app where patients can receive treatment recommendations and keep up with their dental care and receive advice directly from their doctors from home, make up an all-encompassing dental ecosystem that will provide more cost-effectiveness and efficiency in an industry that is beginning to promote the treatment of diseases rather than the prevention.
Dentacoin is a multi-functional platform that provides a solution to the multiple facets of dentistry that are contributing to its ineffectiveness. These factors include trusted and unbiased/fraud-free reviews, insurance, routine care, and rewards programs and market research.
One of the most innovative aspects of the Detacoin platform is the planned implementation for a decentralized database of reviews and unbiased information about dental practices. Users are rewarded for contributing based on experiences they have at their dentist, allowing for transparency and trust in the dental world. Users can also surf through reviews of dentists in their area and see real reviews that have no chance of being fraudulent or spam. Dentists are able to see the reviews they are receiving, respond, and improve accordingly. Negative and unwarranted reviews are automatically filtered out by AI technology Dentacoin has implemented into their framework, allowing for an honest and trust-based cooperative between patient and doctor.
Dental Insurance Platform
It is widely agreed that the current insurance industry is fraught with inefficiency and fraud. Currently, insurance companies can charge and adjust fees at will, all while it is never guaranteed that you can see the dentist that you want to see. In addition, dental offices are forced to be biased as to which patients are accepted due to which insurance they are able to accept. With Dentacoin’s planned insurance infrastructure, the goals of patient and doctor are aligned, without worrying about associated insurance fees or hidden agendas of centralized insurance companies. Dentacoin envisions a revolutionary blockchain-based dental insurance concept where responsibility for one’s health is shared and interests are aligned between dentists and patients.
This method allows for the power to be removed from insurance companies and placed back into the hands of the patients. Patients will now be able to better afford dental care for themselves and their children, as well feel safe knowing that they are being seen by a reputable physician.
Aftercare Mobile App
In order to prevent the development of more serious dental conditions, Dentacoin envisions a world where patients can receive recommendations on how to maintain great oral health in the months in between treatment and keep a regular relationship with their dentist. This was manifested in the creation of the Aftercare mobile app, which provides patients with an easy and direct way to stay on top of their dental health. The Aftercare app is an interactive aftercare app to assist patients in steps to be followed post-treatment, aiming at developing long-lasting oral hygiene habits in both children and adults. In addition, it also allows doctors to better interact with and advise patients between sessions, greatly reducing the need for useless office visits. The team at Dentacoin hopes to reduce the instances of preventable conditions and improve the authenticity of the dentist and patient relationship.
This app helps patients manage everything from their brushing and flossing habits to their diet. The app gives recommendations as provided by your doctor as well as the community on how you can improve your diet and/or dental care habits to better prevent the development of easily avoidable conditions.
Dentavox is another feature of the ecosystem that aims to collect data and provide market research on the dental industry as a whole. Dentavox is an application that collects submitted customer “wisdom” based on reviews and participation and analyzes this data. Then, this data is turned into recommendations on how to improve efficiency, cost, and patient care.
Rather than storing private and critical information on a single ledger owned by the dentist, a blockchain approach allows for this information to be patient-owned and only viewable by permission. By using a decentralized database to store and manage private information, this data can be securely shared and privately owned by the patient rather than the various entities that own this info currently (Insurance companies, dentist, banks, etc. ) and also secure from hacks.
Dental Trading Platform
Fully encompassing the dental sphere, Dentacoin aims to also be involved in the medical device industry through their trading platform. Using their coin, dental products and equipment can be exchanged worldwide through their blockchain-backed trading platform. Transactions are secure, trusted, and protected by smart contracts to eliminate any chance of fraud. In addition, all transactions and activity is openly verifiable to incentivize authenticity and collaboration between dental practices and manufacturers. Dentacoin hopes that this will help to improve the cost-effectiveness and lifespan of modern dental technology by removing excess taxes and simplifying the supply chain.
Buying, Storing and Selling Dentacoin
Dentacoin can be obtained on exchanges such as Cryptopia, EtherDelta, HitBTC, and a few others. Participating wallet services include Jaxx, Metamask, MyEtherWallet, and more. Dentacoin can be obtained by trading for it on these exchanges, or by participating in their dental review platform.
Overall, Dentacoin’s aspirations seem well founded and backed by data that supports a need for some renovation to the dental industry as a whole. The medical industry as a whole is beginning to succumb to inefficiency and latency, as the growing volume of data and patients are resulting in a system that is no longer capable of sustaining itself. Patient data needs to be private, insurance needs to be less complex and powerful, and patients need more control and peace of mind over the security of their sensitive information and medical records. Dentacoin has a solid whitepaper and an empirically backed plan of action to bring their visions into reality. If Dentacoin can convince a majority of dental practices that they are the better option, than your dental health may be manageable from your pocket in the very near future.