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    Date submitted
  • 20-Jul-2018

Whealth-Wise

Abstract

The concept of Whealth-Wise is simple – empower people to make informed and responsible decisions about how they consume healthcare. By encouraging ownership of one’s own healthcare, and educating people on ideas for making informed and responsible healthcare decisions, we are confident that our concept will be able to save a substantial amount of money ($10K) for middle class Utah families.

Additional Questions

Who is your customer?

Customers of Whealth-Wise are people like you and me - consumers of healthcare that know it can be better. We may have questioned the value of the care we have received, or how we pay less for our insurance since we end up spending anyway. While the target for this competition is 10,000 middle class Utah families, there is potential for significantly more impact.

What problem does this idea/product solve or what market need does it serve?

People consume healthcare as blind consumers. There is no accessible way to be educated on how much healthcare actually costs, and any complications are costs that the patient incurs! Why would you not shop around using outcomes data and cost data for your healthcare?

What attributes will make this idea/product successful? Why do you believe that those features will create success?

This concept is being developed by two individuals with extensive knowledge of the healthcare industry, and both extensive consumers of healthcare. The strategies are proven because they are strategies WE use to maximize our own healthcare consumption, and the proof is in our wallets. By developing this concept, we intend to educate patients and empower them to make their own responsible decisions.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Our concept has already been proven, with the way the founders consume healthcare! The next steps are business development tasks, and the structure of the concept will evolve as the ideas become solidified. Healthcare is central to our lives - and as providers and consumers, we know first-hand that it can be better.