Virtual Share Exchange Reserve Sharing for Catastrophic Medical Bills
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Solution Overview
Problem
The centralized health insurance model has become unaffordable and obsolete due to government regulations, lacking transparency, inefficiencies, and increased premiums, prompting a shift towards decentralized health care sharing networks that are not subject to insurance regulations, but lack the ability to efficiently manage and share large, catastrophic medical bills across networks.
Innovation Solution
A computing system connects multiple Virtual Share Exchange (VSE) networks, enabling shared reserve agreements through a server that manages member accounts, dynamically generates temporary virtual bill accounts, and automates the sharing of extraordinary healthcare bills across networks, adhering to regulatory exemptions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If decentralized health care sharing networks are used, then transparency and avoidance of insurance regulations are improved, but the ability to manage and share large catastrophic medical bills across networks deteriorates
Solution Approach 1:
The patent combines multiple decentralized VSE networks into a federated system where networks can share catastrophic bills. The server connects separate VSE networks, allowing them to pool resources for large claims while maintaining individual network autonomy and transparency through the distributed architecture.
Solution Approach 2:
The patent introduces a central server as an intermediary that facilitates communication and coordination between decentralized VSE networks. This server enables bill submission, reserve verification, and payment distribution across networks without centralizing control, thus maintaining the decentralized transparent nature while enabling cross-network bill sharing.
2Adaptability or versatility
If individual reserve parameters are used for intra-VSE payment sharing, then network autonomy is maintained, but the ability to share extraordinary bills across different VSE networks is limited
Solution Approach 1:
The patent creates a universal system where each VSE network maintains its own reserve parameters for internal use, while the federated platform provides a universal mechanism for cross-network bill sharing. The server handles multiple functions: verifying individual network reserves, coordinating inter-network payments, and managing extraordinary bills that exceed single-network capacity.
3Reliability
If a federated system connects multiple VSE networks, then the capacity to share catastrophic bills is improved, but system complexity increases
Solution Approach 1:
The central server acts as an intermediary that manages the complexity of federated operations, handling bill submissions from multiple networks, verifying reserves across different VSE systems, coordinating payment distributions, and maintaining the shared ledger. This centralizes the complex coordination logic while keeping individual VSE networks simple and autonomous.
Solution Approach 2:
The system implements feedback mechanisms where the server continuously monitors reserve levels across participating VSE networks, tracks bill sharing transactions, and adjusts allocation decisions based on real-time data. This feedback loop ensures reliable catastrophic bill sharing while automatically managing system complexity through data-driven coordination.
Data Source
AI summary
A computing system may include a memory and a processor configured to cooperate with the memory to interface with a plurality of virtual share exchanges (VSEs), receive requests from the VSEs to share payment of extraordinary healthcare bills from their members having a value exceeding a threshold bill amount across the other VSEs, and determine a shared reserve for each VSE that submits an extraordinary healthcare bill for payment sharing. The shared reserve may correspond to a value of member healthcare bills the VSE is permitted to share across the other VSEs. The processor may further verify that the VSE has not exceeded the shared reserve, and publish each extraordinary healthcare bill for payment sharing to the other VSEs as a respective member of each VSE upon verification that the VSE submitting the extraordinary healthcare bill has not exceeded the shared reserve.