Synthium Health is an automated healthcare supply chain management platform that creates an e-commerce marketplace, which allows for frictionless and cost-effective business transaction as well as information exchange between suppliers and healthcare providers in the supply chain. Synthium health, a blockchain powered platform is the first ever and only concept of its kind in the healthcare industry.
What did Synthium Health promise to do?
The primary goal of Synthium Health is to create a simplified, efficient and cost-effective platform to solve the inefficiencies of the supply chain process in healthcare. In explanation, generally the supply chain system in healthcare especially the one centered on the provision of medical supplies like surgical equipment and health devices is plagued with inefficiencies owing largely to the inadequacy and incompetence of human factor.
Synthium Health, enabled by blockchain along with several advanced technologies aims to establish a networking platform connecting the healthcare providers directly to suppliers in the market in such a way that ensures utmost transparency and credibility of transactions. On one hand, the system will maximise business revenues and expand the customer base for the suppliers while effectively reducing the cost of healthcare for the patients on the other hand.
How transparent is the Synthium Health team?
Synthium Health Inc. is run by Vijay Reddy, the serving CEO and CTO of the platform. Other team members include; George Kruythoff – Director of Sales operations, Yamini Vedhire – CFO and Satish Jamwal – Product Development manager. The development team is backed by an impressive and adequate advisory board consisting of members with extensive knowledge and experience in healthcare services and related businesses. All verified members, both from the development team and board of advisors can be found on LinkedIn, the professional networking business service. Along with thousands of hours dedicated towards the development of the platform to make it a success, the founding team committed $500,000 USD from personal funds to be used for customer research and surveys to create a fully functional and sustainable platform. The team operates interactive and responsive social media accounts and there is a provided physical address and customer service contact information via which they can be reached for correspondence.
Is the Synthium Health ICO successful and legally compliant?
Synthium Health Platform SHP tokens are ERC20 standard tokens unique to Synthium Health which were created to facilitate transactions within the platform. The SHP token sale has ended, the ICO was held in two phases; a pre-sale ICO which ran from the 19th of October 2017 to the 2nd on November 2017. The crowdsale commenced on the 27th of November 2017 and was in full operation until the 28th day of February 2018. The tokens were sold at $0.65 with a minimum contribution of $250. The token sale was deemed successful at the completion of the ICO and SHP tokens were listed for trade on https://www.localbitcoincash.org/ about a week after the ICO was concluded. The team is actively working on listing with other cryptocurrency exchanges as well. The ICO Synthium Health was compliant to SEC (United States Securities and Exchange Commission) standards for cloud-based Management Solutions on the blockchain.
How has Synthium Health delivered on the company’s claims?
The Synthium Health database provides comprehensive and accurate data which can be utilized by healthcare professionals and suppliers alike in the improvement of predictive analysis as well as in effecting a proactive organizational strategy to reduce risks associated with the business and determine future revenue model. Losses resulting from expired drugs and administrative cost can also be checked using the incorruptible digital ledger of data provided by the platform.
Synthium Health also provides a flexible and well-tailored pricing model based on the market factors to give a customized solution to the user’s needs. For suppliers, Synthium offers to integrate e-commerce site with ERP and CRM systems including other third-party applications while also creating awareness and driving traffic to the Synthium Health e-commerce site. The system also offers data analytics, 3D printing, order placement and communication tool among a myriad of other services.
What is next on the roadmap?
This March on the roadmap, Synthium Health will Implement the Blockchain technology as well as enhance the sales and marketing efforts and data center capabilities.
The next course of action in the development plan for Synthium will involve the acquisition of synergistic companies and is scheduled to commence in June 2018. With the funds realised from the ICO, the company is expected to be financially buoyant enough to effect the acquisition. The acquisition will help the company grow faster and extend its roots on a global scale. There are plans to build a navigation engine and collaborate with other synergistic companies to further serve the industry before the end of 2018. The year 2019 will see to the global expansion of the platform.
In essence, the Synthium Health framework is focused on accelerating efficiencies in the healthcare supply chain; from the manufacturers to the distributors to the suppliers to the healthcare providers to the patients. Synthium Health is set to establish itself in the healthcare industry as a major, if not the main e-commerce platform in the supply chain, the Alibaba of healthcare.
Visit the website: https://www.synthiumhealth.com/