The Betterpath offering is now closed and is no longer accepting investments.

Betterpath

Get Your Data Off The Streets

Small OPO
Brooklyn, NY
Health Tech
Accepting International Investment

Betterpath will show people just how much of a stake they have in solving healthcare's biggest problems.



How Did We Get Here?


When medical knowledge comes from incomplete data, patients suffer most.


After experiencing the impact of incomplete health data first hand, Betterpath's founders set out to build a solution.


It took 4 years to recognize that the problem we set out to solve had little to do with healthcare, 

and a lot to do with our relationship to the health system.


2012 - Hypothesis

"If we can get all the data in one place, we can use it to find the right treatment at the right time."

Result: PATENT ISSUED



2013 - Testing

"Collect a complete medical record, and compare it to Big Data to predict the right treatment."

Result: BIG DATA FAILED



2014 - Building

"Let's build a Processor to manufacture the data we need directly from the source."

Result: SOLVED A HARD PROBLEM



2015 - Learning

(click above for video demo)

"What do you mean patients don't care about their medical records?!"

Result: RAN INTO A HARDER ONE



Like many other companies - including Google, Apple and Microsoft - we thought patients would be thrilled to have access to their complete medical record right in their pocket. We were wrong.

We learned the hard way that when a person is sick, the last thing they want to think about is their medical records. People often don't see the value in having all their data in one place, and are overwhelmed by the health system as it is. But this problem isn't going away.




This is everyone's problem

Global Health Crisis

$47 Trillion: the estimated cost of global chronic conditions by 2030



Global Data Crisis

80% of all health data is unstructured and rarely used for treatment or analysis



Global Savings Crisis

More than 500,000 Americans will experience medical bankruptcy this year




Betterpath solves all three

Betterpath instigates a virtuous cycle of data and value...

...by making data ownership financially meaningful for everyone

Platform Development

  • Stage: Refactoring (prev. Live from 2013-2016)
  • Requirements: secure consent and payment mechanisms to track the collection, access, and commercial use of personal data
  • Current Infrastructure: HIPAA / GDPR compliant cloud. (HITRUST anticipated Q1'19)
  • Planned Infrastructure: Ethereum-based or Cardano-based blockchain for smart contract consent and financial accounting (anticipated migration Q2'19)




Product Development

  • Stage: Market Acceptance / Beta (launch anticipated Q4'18)
  • Requirements: Savings account that bridges financial and health data into a consumer-controlled asset
  • Current features:
    • Savings Account 
    • Integrated transaction tracker
    • Opportunity inbox




Invest in the savings account of the future

Betterpath gives consumers easy ways to earn cash from the data they generate every day. Through established savings vehicles like Health Savings Accounts (HSAs), we pay people in $USD to collect and contribute their data for research and commercial use.

Consumers with a Betterpath Savings Account are given the tools to collect and coordinate health data from any source, and get rewarded in cash for their efforts. Betterpath does the heavy lifting to provide consumers with a secure way to make money from an untapped resource they already own.




Investor Highlights

Who we are is how we're different

Click above to watch Betterpath's Team in action!

  • Betterpath’s goal of complete, consumer-owned health data has rallied industry leaders from academia, government and the private sector. 
  • Many have spent the majority of their careers in pursuit of the same goal, and collectively bring more than a century of relevant experience in consumer technology, executive leadership, healthcare informatics and data interoperability. 
  • Now, with the wisdom of this interdisciplinary team, Betterpath is uniquely positioned to execute on this vision and finally bring a consumer-centric, data-driven health system to bear. 





The Offering

Series A Preferred Stock and CDX Tokens

$4.70/share of Series A Preferred Stock

By investing in Betterpath, you are confident the Company's future equity value will exceed $25,568,009.40





Perks*

CDX Tokens

The Offering includes 100% match of 20 CDX Tokens for every $1 invested.  ($0.050 / Token)


Our anticipated Reg A+ round will authorize 1,500,000,000 CDX and offer 478,600,053 CDX for public sale at $0.050 / Token.


*All tokens will be delivered after the campaign is completed, and upon availability of the Tokens.  See Offering Summary below for additional terms.

CDX will be backed in $USD through a Trust Account (CDX Trust) that will administer the receipt and deposit of 50% of Betterpath’s profits. This unique approach is designed to protect Betterpath's investors by giving them a secured equity token that can be redeemed in cash OR traded on Alternative Trading Systems (like tZero). 

Betterpath's goal is to create an increasingly valuable network of health data owners and buyers called a Consumer-directed Exchange (CDX).

CDX Tokens

CDX is a secured equity token that investors in this offering will receive FOR FREE as a perk for participating. 

  • The right to tokens is contingent upon the successful development of such Tokens and to the extent applicable, the blockchain upon which they function.  There is no guarantee that successful development will ever occur.
  • We intend to implement the tokens on Ethereum's ERC20 blockchain with a planned migration to Cardano sometime toward the end of 2019.

For details on the bonus, please see the Offering Summary below.




"Giving people true ownership of their data isn't just the right thing to do. 
It's also the first step toward realigning the entire health system for everyone’s benefit."

- Matt Sinderbrand, CEO







Key Achievements to Date

Betterpath believes healthcare will evolve continuously as we build better, more accurate information based on complete data. That’s why our intellectual property focuses on capturing, transforming and analyzing health information from any source, regardless of format.

IHSM Patent (2012)

Aligns all healthcare stakeholders by using long-term costs as a vector for predicting treatment outcomes in all diseases (US Patent No. 9,202,066).

Big Data Test ('13-'14)

5M+ records analyzed from best-in-class sources of EMR + claims data; too inaccurate / incomplete for long-term outcomes research.

Recap PHR ('14-'16)

Our first product - a complete medical record -  built and provided for free to 350 chronic disease patients. Demo here.

ETL Patent (2017)

"Human and Machine Assisted Data Curation for Producing High Quality Data Sets from Medical Records." (US Patent Application No. 20160110502-A1)







How Does The Platform Work?

Adoption, Opt-in + Data Collection

Initial users will be paid in cash to sign-up and begin contributing data. 

+

An Open API allows health data from apps, wearables, and EHR portals to be added to the financial data collected through BetterHSA.

Data Processing, Sales + Revenue Sharing

Our existing tech is designed to normalize any format of data into an interoperable language (UMLS CUIs), maximizing the depth of data available for commercial sale. 

+

Early Adoption Partners like HSA providers and employers receive a share of the revenue their populations generate. 

Profit Sharing + Ongoing Engagement

As volume of commercial sales increases, Users receive a share of the profits their data helps generate. 

+

We will initially pay Users in cash to stimulate ongoing engagement and data contributions, giving us the best short-term chance to reach a critical mass of data value. 





Protecting our User's privacy and security is Betterpath's #1 priority. No data will ever be exposed to Data Buyers without the User's explicit consent.

Users control every aspect of who can access their data, and how their data is used

Identifiers (e.g. SSN, Name, Address) are removed and stored with an FDIC-insured custodian

Users determine which data is transacted with Buyers and can adjust their Terms at any time


Platform compliant with strictest regulations, allows Users to download/remove data at any time





BetterHSA Features

The features of the BetterHSA are designed to feel like a mobile banking app. 

As users become familiar with managing their health-related finances through this tool, 

Betterpath presents opportunities for them to monetize their data. 

Savings Account

Seamlessly access your transaction history and track your purchases. View deposits, withdrawals, and earnings in one simple interface. An image capture tool helps you track any HSA expenditures and prescriptions. Additionally, by partnering with FDIC-insured financial custodians, BetterHSA will provide investment options similar to traditional HSAs.


Anticipated release: Oct 2018

Computer-generated picture - Final product may vary



Marketplace

Track your prescriptions and gain access to discounts and support programs through our Rx Marketplace. Upcoming API integrations with other online platforms for health services, including pharmacy and telemedicine, allow users to coordinate and track healthcare activities from across the continuum of care. 


Anticipated release: Dec 2018

Computer-generated picture - Final product may vary



Empower

Concierge support tool provides users with access to a live person for help with self-directed investments and HSA transfers. Upcoming chat-bot integrations allows users to seek answers to health-related questions privately and creates a compelling user experience. This makes it easier to fill data gaps and improve the value of user’s data asset.


Anticipated release: Dec 2018

Computer-generated picture - Final product may vary



Data Score

Provides a data completeness “score” (like a credit score) that ranks the fair market value of a user’s data based on their Opt-Ins. This unlocks an enormous opportunity for both Betterpath and its users to realize accretive financial gain, and sets the stage for our self-sovereign data marketplace: the Consumer-directed Exchange.


Anticipated release: Jan 2019

Computer-generated picture - Final product may vary



Why Start with HSAs?

 

  • Abundant partnership opportunities with HSA Providers looking to differentiate themselves in a crowded market


  • We believe Financial + Health Data = Significant commercial value





Due to their unique tax advantages, HSAs are now being looked at as “the retirement account of the future”

HSAs provide better tax advantages than traditional 401(k) and Roth IRA 





Connecting HSAs and Health Data Creates Early Commercial Opportunities for Betterpath and its Users

In the information economy, medical records + health data hold immense value

A single Health Data Buyer (like a Pharma, Biotech, Marketing Agency, or Insurer) 

can EACH spend up to $12M EVERY YEAR to access anonymized health data.  


By combining anonymized health data with financial data from the HSA, we maximize our near-term commercial opportunities. 

To ensure our Users are motivated to commercialize their data, Betterpath's Terms of Service will provide multiple commercial opt-ins 



Users Control Every Aspect of How Their Data is Monetized

Unlike traditional data brokers, who transact billions each year selling access to data without sharing profits, 

Betterpath cooperates with our users and partners, and shares in the commercial value of the data they contribute to a sale. 





We anticipate Betterpath's Cooperative Health Data Brokerage model will become self-sustaining over time

Costs per User Acquisition Decrease as User Growth Scales

* YEAR 1: We will pay users to Signup ($350), and provide initial Data Incentive Payments (up to $150) to stimulate early data volume. Operational costs are estimated at $120/user. 

** YEAR 5: Demand for BetterHSA removes need to pay for Signup, and Data Incentive Payments will come directly from Data Buyers. Operational costs fall to $80/user as scalability is reached.



Value per User Increases as Critical Mass is Reached in Certain Cohorts

* YEAR 1: A typical user's dataset will be worth an estimated $2000/year based on average data contributions and engagement (see "Commercial Revenue Assumptions" below)

** YEAR 5: Within the first 5 years, the same user's dataset could be worth up to $15,000 based on a 50% increase in value upon reaching critical mass  (e.g. in a disease or medication subgroup that's in high demand).



Cashflow Projections and Commercial Revenue Assumptions





March 2020 Milestones

COMMERCIAL MILESTONES

  • > 30,000 users
  • > 20 commercial contracts
  • > $12,000,000 recurring revenue (ARR)
  • > $5,000,000 in profit-sharing to users

DATA MILESTONES

  • > 2.5M Data Points in Commercial Dataset
  • > 100 Data Points per User
  • > 3 Disease-specific Data Cohorts


ENGINEERING MILESTONES

  • Blockchain permissioning system
  • Cryptographically secure ecosystem
  • Mobile data extraction, transformation, and loading (ETL)







What's the Endgame?

We pay consumers each time their health data is accessed and used to build a Consumer-directed Exchange (CDX) for health data that aligns all stakeholders through easier access to more comprehensive information. 


By combining the dataset production and transaction tools we've already built with the capabilities of blockchain, we can issue micropayments to data contributors based on the commercial value of data they consent to have sold. 


This is the foundation for a new cooperative economy based on the collective social utility of comprehensive information. In a cooperative, nobody wins unless everybody wins - Betterpath is committed to this vision. 

By using health data to pay for healthcare, we can help millions of struggling families afford the care they need.

In the Press

“Health - Wealth: 9 Steps to Financial Recovery”
January 18, 2018

"As it relates to employers directly, there are organizations offering consumer-centric machine learning programs. One industry leader, Betterpath, describes its platform as ‘harmonizing disparate healthcare activities simply by getting all of one’s patient data in one place.'"

Our Bodies, Our Data: How Companies Make Billions Selling Our Medical Records
February 6, 2018

In this seminal book on data privacy and security, Adam Tanner highlights Betterpath's unique commitment to transparency, identifying Betterpath as one of the only 'data brokers' that clearly outlines how it sells data directly in its "Terms of Service".

Offering Summary

Maximum 227,659 shares of 8% Series A Preferred Stock* ($1,069,997.30)

*Maximum subject to adjustment for bonus shares. See 10% Bonus below

Minimum 2128 shares of 8% Series A Preferred Stock ($10,001.60)


Company
Betterpath, Inc.
 

Corporate Address
147 Front Street, Brooklyn, N.Y. 11201
 

Description of Business
  • Betterpath is a Personal Data Broker that shares profits with users who opt to collect and monetize their health data through our Consumer-directed Exchange Data Brokerage Platform ("CDX Network"). Health data assets increase in value as they become more complete, providing incentive for the user to continuously contribute more data. This enables a market for comprehensive health data that can generate robust and consistent revenues for our users, our investors, and our mission. 
 

Type of Security Offered
8% Series A Preferred Stock + CDX Tokens
 
Purchase Price of Security Offered
$4.70/share of Series A Preferred Stock
 

Minimum Investment Amount (per investor) 
$470 (100 shares)














Perks*

CDX Tokens (CDXT)

The Offering includes 20 CDXT for every $1 invested.  ($0.050 / CDXT)

Our anticipated Reg A+ round will authorize 1,500,000,000 CDXT and offer up to 1,050,000,000 CDXT for public sale at $0.050 / CDXT.

Betterpath anticipates that successful rollout of the BetterHSA will create an increasingly valuable network of health data owners and buyers. This network is called the Consumer-directed Exchange (CDX).

CDX Tokens

Description:  The Consumer-directed Exchange Token (“CDX Token” or "CDXT") will represent a secured interest (like a share of stock) in the profits generated by the Company. Each Token will be backed by 50% of the Company’s profits, held as USD deposits in the CDX Token Trust Account (“CDX Trust”). The net asset value or NAV of each Token shall be determined by dividing the total CDX Trust balance by the number of CDX Tokens outstanding. CDX Tokens will initially be issued on the ERC20 blockchain. See Offering Document for the full set of terms.

  • Initial Blockchain: ERC20

  • Anticipated Migration to Alternative Blockchain: Cardano
  • Expected Network Launch date: End of 2019
  • Total amount of Tokens authorized for creation: 1,500,000,000
  • Amount of Tokens issued as Perks in Reg CF Round (max): 20,140,000
  • Will they be listed on Exchanges? if so, which:  The Company anticipates listing the Tokens on an ATS such as TZero

Material Terms:

  • Voting Rights: None

  • Restrictions on Transfer: 1 year from closing of Offering or at anytime should a market emerge on any registered exchange or  ATS Platform such as TZero. In addition, the Company will notify all Public CDXT holders in the 13th month following the closing of the Reg A+ round of the NAV of each Token (should one exist) and allow holders to redeem their CDXT for an amount equal to the most  recently published NAV  through the CDX Trust.

  • Dividends/Distributions: Each CDXT will be backed by USD deposits held in the CDX Token Trust Account. The Trust account will be funded with the greater of 20% of the Company’s revenue or 50% of the Company’s profits.  Deposits to the CDXT-Trust will be made at least annually in each year where the company earns a profit. If no profits are declared for 12 months following the closing of our anticipated Reg A+ Token Offering, the Company will contribute either 20% of its revenue or 50% of profits, whichever is greater to the Trust, at least annually. The net asset value or NAV of each Token shall be determined by dividing the total Trust balance by the number of Tokens outstanding. 

    • Redemption Rights: The Company will offer public Token holders the ability to redeem their Tokens at any time at the most recently published NAV. Redeemed Tokens will be considered “burned” and reduce the outstanding float. This “reverse dilution” will inure to the benefit of the remaining Token Holders as there will be a smaller denominator (less outstanding Tokens) if additional funds are added to the Trust. We believe this structure offers characteristics that are both desirable and unique.

  • Computation of Profits: The Company will calculate its profit by the amount that total revenue from all activities exceeds the expenses, costs and taxes needed to sustain and grow Betterpath’s business. Any profit that is declared will be split evenly between the Company and the CDX Trust. 

    • It is in the best interest of all Company stakeholders to establish this sharing arrangement as soon as possible even if the Company has yet to declare a profit. As such, the Company will begin contributing 20% of its Operating Revenue, at least annually,  beginning in the 13th month after the close of the A+ round. This amount will be calculated by deducting expenses associated with data acquisition (COGS) and SG&A expenses. The resulting number will be multiplied by 20% and paid to the CDX Trust. If the Company declares a profit at the end of its fiscal year that would have resulted in an amount greater than the previously contributed amount, an additional payment will be made to the CDX Trust.  

Allocations

Allocations

%

Hard Cap

Soft Cap

Notes (additional information available in the Terms section)

Public Sale

66.67%

1,000,000,000

105,000,000

Immediately vested in the CDX Token Trust

Reg CF. Perks

1.34%

20,140,000

20,140,000

20:1 CDXT match for every $1 invested

CDXT-Trust Reserve

16.09%

241,349,930

15,750,000

Available for purchase from the Token Trust by the Company at the greater of published NAV or $.05/CDXT

Team Token Incentive Plan

15.90%

238,500,000

2,362,500

Team TIP will function like an equity incentive plan with amounts and vesting schedules set by the Company Directors

Totals

100.00%

1,499,989,930

123,112,500



Public Investors: CDXT purchased during the offering shall not have any transfer restrictions and may be offered for redemption at the NAV published by the CDX Trust or sold in the secondary market assuming such a market is available. The Company makes no guarantee that either a published NAV or a secondary market will be available and investors should be guided accordingly.

Rights:  All Tokens acquired as a perk in the REG CF Round shall have the same terms as those offered to the public in the anticipated TSO-Reg A+ round

CDX Trust Reserve: These Tokens will be held by the Trust as part of the total authorized by the Terms of the offering. They will be for sale continuously to the Company only, at a price that will be the greater of $.05 or the most recently published NAV. The purpose of the Reserve is to offer CDXT to our Data Contributors as an alternative to a cash payment. An example of this follows:

BetterHSA User earns $350 for establishing account and is offered the choice between USD or an equivalent amount of CDXT. We anticipate the process for compensating in CDXT will be:

  • The Company transfers $350 USD to the CDX Trust Account 
  • Assuming no published NAV, the USD amount will be divided by the public sale price of $.05/CDXT.
  • 7000 CDXT will be added to the User’s BetterHSA Account

Even though the number of outstanding CDXT will rise, no dilution will occur since there will be an equivalent amount of USD added to the Trust. 

The Company believes that allowing BetterHSA Users the option of receiving their compensation in CDXT could accelerate consumer adoption of the BetterHSA Platform and stimulate broader data contributions at the individual level.

Since the CDXT NAV and secondary market values will be driven by ongoing data contributions which lead to increased sales, we believe that BetterHSA Users will come to realize that unlocking the latent value in their healthcare data can result in financial gain that can be spent currently or held as a longer term investment. 

Team Token Incentive Plan: These Tokens will follow the same guidelines as the Company’s Equity Incentive Plan and be used as incentives to reward current Team Members and outside advisors or contractors. Tokens granted under the plan will vest immediately upon the grant date but will not have the ability to redeem through the NAV provisions of the CDXT Trust for a period of 24 months following the initial declaration of the CDXT NAV. This will prevent the possibility of the NAV being immediately diluted by the addition of the “TIP” generated Tokens. Holders of these Tokens will have no restrictions should they choose to liquidate their Tokens on a registered exchange. The Company will place restrictions of 24 months as described above on each Token that comes from the plan which any potential buyer will be subject to.

The Terms of our CDXT offering have not yet been authorized by the Board. It is the Company's intent to authorize the CDXT offering as described above, at our next Board meeting. 

The Company currently does not have a functional distributed ledger based business model nor a blockchain based token and there is no guarantee that such will be developed in the future. The promise of future tokens is contingent upon the successful development of such items.  There is no guarantee that successful development will ever occur.  The right to receive future tokens and the offering of future tokens is being offered as part of this offering exempt from registration under Regulation CF.  

Tax Advisory: Investors should consult their tax advisors with respect to the tax basis for each of the 8% Series A Preferred Stock and the CDX Tokens, since they will trade independently.

Jurisdictions: 

 No Investor who (i) resides, (ii) is located, (iii) has a place of business, or (iv) is conducting business (any of which makes the Investor a “Resident”) in the state of New York will be accepted in this offering.

*All perks and tokens will be delivered after the campaign is completed, and upon availability of the Tokens.

The 10% Bonus for StartEngine Shareholders

Betterpath will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders (with ≥ $1,000 invested in the StartEngine Reg A+ campaign) within 24 hours of this offering going live.

StartEngine shareholders who have invested $1,000+ in the StartEngine Reg A+ campaign will receive a 10% bonus on this offering within a 24-hour window of their campaign launch date.  This means you will receive a bonus for any shares you purchase.  For example, if you buy 100 shares of 8% Series A Preferred Stock at $4.70 / share, you will receive 10 bonus shares of 8% Series A Preferred Stock , meaning you'll own 110 shares for $470.   Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$2,040.00 USD
$71,399.00 USD
Cash And Cash Equivalents
$2,040.00 USD
$7,989.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$131,694.00 USD
$115,477.00 USD
Long Term Debt
$420,000.00 USD
$310,000.00 USD
Revenues And Sales
$10,000.00 USD
$20,000.00 USD
Costs Of Goods Sold
$12,000.00 USD
$28,500.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$195,516.00 USD
-$459,800.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

[PREVIEW]: Betterpath Savings Account - Design and UX Update

28 days ago

With only 3 weeks left, we're excited to share some of our product development progress and give everyone an early look! 

Busy busy busy getting ready to launch our Alpha Test Group for the Betterpath Savings Account! After months of hard work, we're thrilled with the latest design and UX, and will be finalizing core functionality within the next week.  Here's a little teaser of the sign-up and onboarding process. Enjoy!


Check out the product website and register for early access here.


Help us bring this effort to life by investing today!


- The Betterpath Team - 

hello@betterpath.com


Notice of Funds Disbursement

about 1 month ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Betterpath has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Betterpath be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

[PREVIEW] Betterpath featured in the "10 Fastest Growing Blockchain Technology Providers to Watch in 2018" by The Technology Headlines!

about 2 months ago

Excited to announce that we've been featured in an upcoming publication from The Technology Headlines! Here's a favorite quote from their interview with Matt, our CEO:

"Our belief is that the responsibility to unlock the social and financial utility of health data on behalf of the consumer cannot be overlooked, and Betterpath will provide a viable means toward that end."  

Check out a preview of our full page spread in The Technology Headlines (page 18)! 



WATCH: The Master Debater's Roundtable (E1)

about 2 months ago

In Episode 1, our Founders debate healthcare's deepest issues, what we're doing about them, and how we see the future of healthcare and finance evolving around the consumer.

Join the conversation and comment with your frequently asked questions! 

Share this link to your network: https://youtu.be/K1u5SdqIepM 


Origin Story: Why Betterpath?

3 months ago

When our Founder got the news that his daughter Alexandra was diagnosed with Crohn's disease, he had a conversation with her doctor that would change his life forever:  

[Gary]: "How are you going to treat her?"

[Dr.]: "Well, there's 10 different things we can try, so we're going to start small and see what works."

[Gary]: "Can't you just look at which one has worked best for similar people and start there?"

[Dr.]: soft chuckle "Wouldn't that be nice."

Even though that conversation happened in 2003, if he asked that same question today the answer would likely be the same. With all the advancements in technology, and more data at our fingertips than ever before, how could this possibly be the case? 

____________________________________

When we first started this endeavor, we thought we could compare the data from Alexandra's medical records with Big Data from Electronic Health Records (EHRs) to determine which of the 10 treatments worked best for similar Crohn's disease patients. 

  • We paid a lot of $ for access to the "best in class" Big Data only to learn such a thing was fundamentally impossible because the data recorded in the EHR was 1) incomplete and 2) inaccurate. 

    • The data was incomplete because people go to different providers that don't share data. 

    • The data was inaccurate because physicians are forced to "pick a code" in order to get paid, even if they can't confirm the diagnosis. 

  • Out of the 130,000 patients in the Big Data that had received a diagnosis code for IBD, we were only able to confirm that 11,000 actually had the disease. 

This led to another realization: most of the info needed to determine treatment outcomes in chronic disease wasn’t in the Big Data, and lived in the text of clinical notes that can’t be read by a machine. 

  • We tried to get access to these unstructured medical records (the closest thing to "Primary Source Data" in healthcare) without burdening the patient, but in order to get a COMPLETE SET of records, we needed the patient to give us their list of providers. 

  • Most of our patients had seen more than 5 providers over a 5 year period, and gathering all those records from all their sources became job #1.

After we understood the enormous task in front of us, we set out to build a solution. 

  • From 2013 to 2016 we built and scaled a Platform that retrieves, organizes and extracts the relevant medical "facts" from the unstructured clinical notes of a patient's complete medical history (i.e. all their records from all their providers). 

  • We developed the most comprehensive personal health record that has ever existed, and deployed it to 350 Inflammatory Bowel Disease (IBD) patients for free. 

  • We knew the potential value of a complete, disease-specific dataset would offset the cost to produce these records if we could onboard a critical mass of users. 

  • On the shorelines of scalability, we ran smack into a problem we had no idea even existed: people don't care about their medical records.

Our Big Data experiments from 2012 had already proven that we needed access to a complete set of raw medical histories and thus needed the patient to be engaged. 

  • After interviewing hundreds of our users, it became clear that while grateful for the service we provided, they didn't see much value in having all their medical records in one place. 

  • We learned the majority believed their doctors already had access to the same info, and that most considered it a burden to take on this role of "Data Owner".

It took us 4 years to recognize that the problem we set out to solve had little to do with healthcare, and a lot to do with people's relationship to the health system. Chronic disease will continue to bankrupt this country and its citizens unless we figure out a way to assign the right treatment to the right person at the right time. In order to do that we need access to complete medical histories on a statistically significant volume of patients with the same disease. This is the motivation behind our first patent: a system that compares discretely characterized longitudinal patient datasets to determine best treatment pathways based on long-term costs.

Many who work in healthcare do not believe the "Patient-Controlled Model" can ever work. However, our team is committed to making it work because we wholeheartedly believe it's the only way to fix healthcare. 

  • Our renewed approach is designed explicitly to bypass the Adoption Barrier by incentivizing people with something everyone wants: MONEY. 

  • Marketing our services through Health Savings Accounts serves our two main purposes: helping our users continuously collect their data and sharing profits with them based on its commercial value. 

  • Public awareness of the "Data Economy" is growing every day, and we think people are ready to be shown how to participate. Using the tools we've already built, Betterpath will be such an organization that SHOWS people the value of data ownership, instead of just TELLING THEM that their data is valuable. 

That's the story! We know it's long-winded, but it deserves to be told. 

Years of working on the same problem has given us the wisdom to know what to do, and now we just have to do it.

A note on CDX, Tokenized Securities, and ICOs...

3 months ago

Thank you to all who have provided the incredibly positive feedback thus far! Connect with us through our social media channels, Telegram, and directly here by commenting below. As we prepare for a significant marketing push later this week and next, we want to make sure anyone who's interested in participating is equipped with the ammo they need to make an informed decision.

We believe the use of Tokenized Securities (like CDX) on the blockchain creates a significantly more favorable investment opportunity vs. a traditional "ICO". 

Any company that seeks capital must have a plan for paying it’s investors back regardless of how that money is raised. The vast majority of Token Offerings / ICO’s that have been issued and subsequently increased sharply in value will likely end up at “0” unless the issuer has a viable business that will support the value of whatever security (including tokens) have been used.

Most Companies that use ICO’s do not have a prototype or minimum viable product and instead are positioned to solicit funds with 2 elements:

  • A Whitepaper that details the company’s aspirational world changing goals

  • A healthy marketing budget

There is no way to rationalize the true value of these securities because the incentives between the issuers and the investors are not aligned. 

If an issuer has a viable business model that includes a compelling reason to use some form of token that aligns all of the company’s stakeholders AND creates an understandable path to a profitable investment, it would be rare in today’s market.


Betterpath will be such an issuer and utilize a structure that will redefine Token offerings.

We will differentiate ourselves from others in the market in 3 key ways:


A PROVEN BUSINESS MODEL 

The Data Brokerage model is already well established. Betterpath builds upon this model by partnering with Data Owners to create a deeper, more comprehensive data product than what's currently available from 3rd party Brokers. 


A NO-BRAINER ADOPTION MODEL

The number one limiting factor for us is consumer adoption. Since we know that consumers must be motivated to adopt any new technology, we are going to pay the first 5000 users up to $500 in cash just to start using the BetterHSA. 


A TOKEN BACKED BY REAL MONEY

Not only do our Tokens represent a secured interest in the value of the Company, but to ensure our investors can realize an early return and potentially multiply the value of their initial investment, Betterpath has committed to diverting 50% of our profits to back the value of our Tokens in $USD. 


Long story short, Betterpath is different because we're committed to putting our investors and users first. We know that there's enough latent value out there in the Data Economy that's just waiting to be captured, and believe our timing and approach is both unique and compelling. 


Feel free to reach out and ask questions, or book some time with me (matt@betterpath.com) to discuss Betterpath's plans in-depth. 


Onward! 

- Matt Sinderbrand, CEO

It's what the people want!

3 months ago

To our early supporters: Thank you!

To our followers, check out these highlights from a recently published study on Data Ownership:

______________________________________________________________________

In the United States, 3 out of 4 people believe their data is their property, and that they should be able to trade it if they choose to do so – for services, discounts, or other offers. This perspective is shared across gender, age cohort, and generation.

To participate in data sharing with a company, people in the U.S. seek transparency: 

  • 84% expect terms and conditions will be easy to read and understand 
  • 83% want a flexible privacy policy allowing them to control the types and amount of data they share

The top incentives Americans prefer for sharing their data are direct financial rewards or cash payments.

______________________________________________________________________

Why Betterpath will lead the charge toward Data Ownership with the BetterHSA: 

  • First and only Terms of Service that explicitly shares profits with Users
  • Privacy Policy that allows users to control the types and amount of data they share
  • Users compensated with $USD (not crypto) contributed directly into their BetterHSA
  • User experience that provides tangible benefits ($) each time to motivate continuous engagement (more data)

By partnering with our Users and showing them the potential value of their data through up-front cash payments, Betterpath will stimulate the volume of adoption necessary to execute on our short-term goals. 


Stay tuned for more updates and be sure to join us on Telegram

LAUNCH DAY!

3 months ago

Friends, 

We've spent the last 4 years building toward this moment, and are beyond excited to share our vision with the world. 

With the recent explosion of media coverage on data privacy and data ownership, consumers are more aware than ever that their personal data is being bought and sold by others for financial gain. We want to capitalize on this sentiment by providing consumers with opportunities to generate passive income from their data, and are in the process of finalizing the first and only Terms of Service that explicitly shares profits with Data Owners. 

The Campaign Page you just read and/or scanned through provides a lot of detail, so for reference, here's the quick pitch: 

  1. Health data is incomplete and fragmented across the health system, and the only stakeholder who can access a complete set of data is the individual patient.  
  2. Betterpath creates the access point for complete data by motivating patients as consumers, paying them in cash to collect their data through the BetterHSA.
  3. BetterHSA uniquely bridges financial and health-related activities and serves as the perfect vehicle to financially motivate consumers to engage with the health system.
  4. BetterHSA is the adoption channel for our Consumer-directed Exchange (CDX): a decentralized Network for health data that uniquely aligns all healthcare stakeholders through easier access to more comprehensive information.
  5. Unlike Facebook and Google, who transact billions each year selling access to your data without sharing profits, Betterpath pays fair market value to its users for the access and use of their valuable asset. 
  6. Users control every aspect of how their data is monetized by opting-in to opportunities like receiving targeted advertisements, fulfilling sponsored surveys, and participating in research studies. 
  7. The market for incomplete data is massive because it’s the only game in town; Betterpath unlocks the market for complete data by cooperating and sharing profits with our users, stimulating sticky user engagement and deeper data completeness over time. 
  8. Betterpath’s core IP creates and maintains an individual’s complete health record at a level of completeness that has never before existed. 
  9. We are raising capital to stimulate broad adoption of the BetterHSA and associated Consumer-directed Exchange. 
  10. Once the public begins to experience the financial benefits that their personal data can generate, cash flow from ongoing data sales and other sources should make continued adoption self sustaining.

Please feel free to submit questions or comments to hello@betterpath.com, and join our Telegram channel to follow our day-to-day activities. 


Until next time! 

Matt Sinderbrand - CEO

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