International Healthcare & Cardano

Explore current system used for records and review cash payment processes to identify improvements and solutions with Cardano.

Expertise: Staff has 25+years experience in compliance, controls, audit, regulatory, investigative, security, governmental/legislative, oversight in gaming, health care, & anti-money laundering (AML) and know-your-customer (KYC) operations and controls.

[IMPACT]

Based on the reality that Salud is offering services within the United States and several other countries throughout the international community as well as expanding into additional locations, it is a primary importance to be able to review the current practices and procedures used by Salud. Our intent is to utilize our team to understand the current state of Salud’s customer and service provider records systems and secured commination platforms. We also will need to identify and understand Salud’s accounting systems and procedures utilized in securing and leveraging subcontractors as well as their service provide network in addition to their current payment solutions deployed within their networks.

Through our investigative analysis and assessments of the current state of Salud’s operating procedures we will be able to identify solutions for Salud via blockchain utilization and alignment with various regulatory guidance involving controls and access to patient records as well as their interconnected group of service providers and the ability to implement a cryptocurrency solution to assist with reducing or eliminating barriers to their services.

The immediate impact to Salud Healthcare, its clients, and service providers would be the ability to have a payment processing system between clients and medical service providers that would provide standardized funds and anonymity to clients. The use of the Cardano enterprise wallet would afford a secure and standardized payment system without a client or medical provider needing to handle cash payments and the associated risks of transporting cash. This solution would also limit Salud Healthcare’s need to operate with pricing and payment solutions dependent on current currency conversation rates.

The Cardano payment system would enhance client security as well as remove or significantly reduce barriers with the current cash payment process being used. The payment system would also allow a client and Salud to have a verifiable and traceable payment system to track and verify payments to providers while still maintaining the security of the records as required by clients or regulations.

A realization of payroll savings related to managing client records would also be realized under this model by reducing the labor used to account for and reconcile payments received and sent for services. Reducing the time necessary to handle payments for services would also impact the hours required to functionally manage their inventory controls. The time necessary to support regulatory audits will also be reduced by a standardized system. This increases efficiency and increases profitability through reduced expenditure.

Salud Healthcare and its clients will realize benefits related to theft and loss through greater oversight and accountability by reducing or eliminating cash payments. Theft or other losses would be easier to recognize and act through improved quality control processes over their products and services. The proposed solution will allow clients to preserve capital and have faster and easier regulatory responses which will reduce the risk of regulatory fines and adverse actions against their regulated business operations.

Salud will realize better returns on the capital they deposit into their Cardano enterprise wallets, have greater security of their assets, and allow for near instant movement of assets from location to location reducing their reliance on cash, the risks of storing and transporting cash and having better and quicker access to accounting records.

Challenges include regulatory matters such as:

• Identification and understanding of Compliance matters with location specific regulations concerning client and provider records

• Identification and understanding of Compliance with finance regulations surrounding money transmission

• Due to operators having a lack of capital available to improve their processes and still comply with regulations, there is a real need to offering a no cost proven and design solution to Salud that would allow clients and providers to improve their regulatory support (such as HIPPA) and improve their business processes to realize greater compliance and increase their revenues.

Regulatory roadblocks and hurdles that will take time to navigate. Because this is an international company, there may be delays in board approvals and questions related to the payment processing system as well as the integrity of the medical records system due to difference in regulations and oversight in each respective area of authority.

Delays in receiving or obtaining any necessary licenses through the respective financial systems for Salud Healthcare and its clients to establish and operate their enterprise wallets.

Our mitigation efforts involve the routine access, historical experience and business and regulatory environments that Pinnacle Consulting & Advisors has with international affairs, regulated businesses, regulatory bodies, state legislators, the attorney general’s office, and local elected officials.

[FEASIBILITY]

Pinnacle Consulting & Advisors is currently operating with Salud under a verbal agreement and a non-disclosure agreement to seek funding to build a proof-of-concept solution for the medical records system as well as a payment processing system. Our timeline associated with this project is as follows:

• 1 to 3 months to acquire Catalyst funding for a project with a viable use for Salud Healthcare.

• 3 to 6 months analysis and assessments of possible solution for POS and cash operations for Salud.

o Identification of Potential(s) for licensing delays moderate to high based on the host country

• 6 to 12 months to have a usable data set from the analytical review of the records control process capable of presenting to regulatory bodies for approval as necessary

• Current and continuing meetings with Salud to handle investigative review and establish a clearer roadmap to solutions. Roadmap would identify clear deliverables for further project development and delivery of solutions.

Liaison support: Regulatory support that includes necessary travel to relevant jurisdictions including Salud facilities as necessary for meetings and investigative reviews of the current and future processes as well - $25,000

Investigative: Analysis, gap analysis of current systems to develop and provide risk matrix for development of solutions- $35,000

Legal support: Legal reviews as necessary for programs and at any relevant hearings or regulatory meetings - $ 20,000

Joel Kisner – compliance, regulatory support, investigative support, governmental liaison

Paul Wong – HR, HSE, EPA, DOT

Richard Forbus – Governmental Affairs

Kellie Skidmore – Due Diligence, AML, crypto

Maya Clark - paralegal

Benjamin Floyd – BSA AML

Ian Jay – legal support

[AUDITABILITY]

After the full dive into the operations and processes currently in use:

- Development of roadmap for Cardano use involving the blockchain development for medical records, regulatory hurdles in different countries or locations

- Roadmap for solutions related to payment systems using Cardano.

- Develop risk matrix including regulatory hurdles as related to project design and implementation.

Development of a working roadmap for the creation of Cardano solutions for:

• Ability for approval of entire or parts of records system by Salud and acceptance by at least one regulatory body

o Ability to document realized gains is efficiency

o Ability to present a successful proof of concept to other healthcare systems and providers throughout the US and internationally.

• Aide in expansion efforts for Salud into Africa and Asia.

• Acceptance of cash banking solution by Salud and at least one Financial Institutions regulator as necessary

o Documented realized gains usability and returns on deposits

o Ability to present a successful proof of concept to other healthcare systems and providers throughout the US and internationally.

This is a new project opportunity for Cardano to enter international health care services.

SDG Rating

SDG goals:

Goal 3. Ensure healthy lives and promote well-being for all at all ages

Goal 8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

Goal 9. Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

Goal 11. Make cities and human settlements inclusive, safe, resilient and sustainable

Goal 12. Ensure sustainable consumption and production patterns

Goal 16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

Goal 17. Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development

SDG subgoals:

12.6 Encourage companies, especially large and transnational companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle

17.17 Encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships

17.3 Mobilize additional financial resources for developing countries from multiple sources

3.8 Achieve universal health coverage, including financial risk protection, access to quality essential health-care services and access to safe, effective, quality and affordable essential medicines and vaccines for all

3.c Substantially increase health financing and the recruitment, development, training and retention of the health workforce in developing countries, especially in least developed countries and small island developing States

9.1 Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all

Key Performance Indicator (KPI):

3.c.1 Health worker density and distribution

3.8.1 Coverage of essential health services

17.17.1 Amount in United States dollars committed to public-private partnerships for infrastructure

17.3.1 Foreign direct investment, official development assistance and South-South cooperation as a proportion of gross national income

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