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Liber Health Inc.

Biometric patient identification powered by blockchain

Pakistan
Market: Internet and IT, Medicine, Another, Blockchain, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 20.03.2020
Min investment
$  50.000
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Total required
$ 250.000
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Idea

It is a nationwide patient identity blockchain network which uses patient biometrics for identification and health data linkage.
A hand-held portable, non-touch, non-invasive device to identify patients using IRIS scans during the entire healthcare process at the hospital including registration, emergency, drug administration and blood transfusions.
Liber Health is both a standalone solution for patient identification and also an extension of the existing hospital systems and electronic medical record systems for health data interoperability.

Current Status

We have completed the PoC for our health data exchange network using HyperLedger Blockchain. The blockchain platform exposes Rest APIs which we leveraged to develop an Electronic Medical Record (EMR). We have integrated biometric (fingerprint) scanner and facial scan for patient identification and consent. 
We have incorporated as a Delaware C Corp (courtesy US Department of State), signed a joint patent with University of Colorado at Colorado Springs and been accepted for the Ryerson University Innovation program in Niagara Falls, which will give us access to further investment and Niagara Health Foundation in Canada.

Market

Our target market is hospitals, clinics and health systems manufacturers like Epic, Cerner etc which are
relying on wristbands for patient identification.
The North American Digital Health market is expected to, reach a value of $219.7 billion by 2025 grow at
a CAGR of 28.4% from 2018 to 2025
Since Liber Health sits at the cross-section of blockchain, biometrics and digital health, we are initially
looking to capture market size of US$280 million in the North America.

Problem or Opportunity

More than 2.6 million people die each year due to medical errors around the world. The fundamental cause for these medical errors are Patient Misidentification and Health Data Interoperability
Identifying Patients Correctly is the Number 1 Priority according to the Joint Commission International Patient Safety Goals 2020.
61% of the errors in blood transfusions are due to patient misidentifications.
Clinicians on average waste 28.2 minutes per shift searching for correct medical records for patients.
The average hospital loses $17.4 million per year in denied claims resulting from patient misidentification.
Current health records are known to contain duplicate medical records which makes up 10% of all hospital records and costs a single hospital $1.5 million annually to fix.
Lack of proper patient identification causes fraud and identity theft which cost the healthcare system more than $100 billion per year.
Whereas, current identification solutions like patient id wristbands only reduce the risk of misidentification by 50%.
Patient harm done through identification errors also traumatizes doctors, surgeons and other healthcare professionals.

Solution (product or service)

It is a nationwide patient identity blockchain network which uses patient biometrics for identification and health data linkage.
A hand-held portable, non-touch, non-invasive device to identify patients using IRIS scans during the entire healthcare process at the hospital including registration, emergency, drug administration and blood transfusions.
Liber Health is both a standalone solution for patient identification and also an extension of the existing hospital systems and electronic medical record systems for health data interoperability.
The platform will save thousands of patient lives lost due to medical errors caused by the lack of auditable health data.
It will also solve the health data interoperability problem for healthcare providers and health systems caused by patient mis-matching.
Deter fraud and identity thefts
Save hospitals $millions lost in rectifying duplicate records and denied health insurance claims.
Think of us as the intra bank technology (like VisaNet and UnionPay) but for digital health services and health data transfers among healthcare stakeholders.

Competitors

Our competitors include EMPI companies (like NextGate). Currently healthcare providers and health systems manufacturers use EMPIs to maintain patient identities and match patients with the right medical records. The problem is, EMPIs use fuzzy logic to match patient medical records from different healthcare providers based on data like names, dates of birth, phone numbers, etc. This approach is probabilistic at best

Advantages or differentiators

Our solution is new because it doesn’t rely on any probabilistic patient matching. It creates a single unique digital identity for every patient and assigns clinical data to that identity, creating an automated and federated registry which will be shared by healthcare providers and health information exchanges across the nation.

Finance

Subscription model charges are,
Base price (yearly): $15,000 per hospital OR $7000 per clinic (includes 5 sets of identification devices)
Monthly charges,
0 – 50,000 patients: $1 per patient
50,000 – 100,000 patients: $0.75 per patient
100,000 – 200,000 patients: $0.50 per patient
200,000 – 400,000 patients: $0.25 per patient
400,000 – n patients: $0.1 per patient

Business model

Liber Health will have multiple revenue streams consisting of all the healthcare stakeholder (like payors,
providers and patients).
However, right now we are only focusing on healthcare providers like hospitals, clinics and humanitarian
organizations.
We currently offer whitelabeling and licensing combined with a pay-as-you-go model.

Money will be spent on

Transferring partial operations to Canada and UAE
Integration with existing HMISs
Convert our provisional patent into final patent
Commence pilot runs with hospitals and clinics
Launch the Android and IOS patient mobile apps

Offer for investor

$250,000 for 12% equity
Or SAFE notes

Team or Management

Risks

Adoption:
Since we are selling to health systems manufacturers
and our users are hospitals and clinics, we need to bring on
board both private corporations and public entities for our
platform’s adoption. We believe that by demonstrating the
benefits and the positive impact of Liber Health we can easily
bring all concerned parties on board
Privacy:
Liber Health is HIPAA compliant, the platform uses
AES 256 (military grade) encryption to secure all health data Legals
We are being assisted by the GIST Network and US Department of State on legal issues
Competitors:
We have some competitors but they are using public blockchain which are not as secure as permissioned blockchain (like Liber Health).

Incubation/Acceleration programs accomplishment

We have recently been selected for the Ryerson University Innovation Hub in Niagara Falls, Canada, it is a 4 month program (starting Sept 2020) which will provide us with Startup Visas (permanent residences), access to capital and the opportunity to deploy our solution for Niagara Health Foundation and its hospitals in Canada.

Currently part of IBM inaugural accelerator program in North Carolina, USA

We have been part of GIST business incubation program organized by the US Department of State and were among the top three companies Nov 2019.
https://www.gistnetwork.org/content/mission-make-healthcare-safer-conversation-gist-businessincubation- participant-syed-abrar

Graduated from the Innovation Program at University of Colorado at Colorado Springs (UCCS) Oct 2019

We were incubated at NEST IO, a tech incubator in Karachi, managed by PASHA and funded by US
Consulate, Google and Samsung. Our incubation started from August and ended in November 2016.
You can check out our interview for Nest IO here, https://www.youtube.com/watch?v=jXR-TZW79o4
We were also part of Draper University Winter '16 batch.

Won the competition and other awards

Won the Floating Pitch Challenge at In5 tech incubator and Step Conference Dubai Jan 2020.
https://www.wamda.com/2020/02/step-2020-floating-pitches-400-startups-new-vc

Winner 2nd GIST Tech-I challenge and GEC 2019 in Bahrain.

Represented our startup at The Global Entrepreneurship Summit in Netherlands and won the Outstanding Entrepreneur from Emerging Economy Award Jun 2019!

Won Entrepreneurship World Cup National Finals Pakistan 2019


Invention/Patent

Signed a Joint Provisional Patent with Terrance Boult, El Pomar Prof of Innovation and Security at UCCS for our technology

Application number will be provided soon,

Photos

Photo 1 - Liber Health Inc.

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address