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 ...
The Block Reward | Real Stories. Real Impact. All Powered by Real Money - Bitcoin · Podigy
Audio is streamed directly from the publisher (audio-delivery.cohostpodcasting.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
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