Automated Service Exchange Using Time Units
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Solution Overview
Problem
Automated exchanges for complex services like long-term care are inefficient, making it difficult for buyers and providers to manage risk and maintain affordable costs, as existing systems struggle to handle transactions with uncertain future delivery times.
Innovation Solution
A server-based system that allows clients to enter orders for long-term care services in time units, maintaining a dynamic trade book, matching purchase and sell orders, and updating accounts, with interface screens for users to manage and display trade information, enabling the purchase and sale of long-term care hour-units.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If automated exchanges use traditional monetary pricing for services, then transactions can be processed, but uncertainty in future delivery times increases risk and reduces efficiency
Solution Approach 1:
The patent changes the fundamental parameter of service pricing from monetary units to time units. Services are quoted and traded in hours rather than dollars, eliminating the need to convert between time and money and directly addressing the uncertainty in future delivery times by making time the common denominator for all transactions.
2Adaptability or versatility
If automated exchanges handle complex services like long-term care, then service availability increases, but system complexity increases making risk management difficult
Solution Approach 1:
The patent segments complex services into standardized hourly units, breaking down long-term care and other complex services into discrete, tradable time blocks. This segmentation simplifies the trading mechanism while maintaining the ability to handle diverse service types, reducing system complexity without limiting service availability.
Solution Approach 2:
The patent creates a universal time-based pricing system that can handle multiple service types (long-term care, home care, medical services) through a single standardized mechanism. This multi-functional approach allows the same trading system to accommodate diverse services without increasing complexity, as all services are expressed in the common language of hours.
3Ease of operation
If automated exchanges allow future service delivery, then service access improves, but cost assessment becomes uncertain
Solution Approach 1:
The patent enables preliminary pricing and trading of services at current time based on hourly rates, allowing participants to lock in costs and assess risks before the actual service delivery occurs. By establishing time-based prices in advance, the system provides cost assessment information upfront while maintaining flexibility for future service access.
Data Source
AI summary
A system is provided that includes a server computer coupled to a plurality of client devices over a communication network, the server computer configured at least to: receive a plurality of orders for a service from the plurality of client devices, the plurality of orders include an order to purchase the service having a price and a size, and an order so sell the service having a price and a size, wherein the size of the purchase order and the sell order is stated in time units and wherein the price of the purchase order and the sell order is stated in time units; maintain a dynamic trade book comprising the plurality of orders sorted based on best price; match purchase orders and the sell orders; automatically execute matching purchase orders and the sell orders; and update account records to reflect executed purchase orders and the sell orders.