Biopassport Business Model
Marketplace
The second phase of launch is the Marketplace. The Marketplace is a platform for DPHR users to sell their health data which they have inputted into the BioPassport database, and for potential buyers to request access to data. When users opt in, they will be able to decide what data they choose to list onto the marketplace. DPHR users will be notified of demand for certain kinds of data that they may be able to provide. Data will be organized and tagged using AI so that buyers will be able to filter results according to the specific kinds of data they are looking for. On the demand side, potential purchasers of DPHR data include research institutions, healthcare institutions, or private businesses such as Google, Facebook, and Amazon. The healthcare data analytics market in 2019 was estimated to be valued at around 14 billion dollars, and is projected to be at least 50 billion by 2024, showing increasing demand for raw healthcare data. Given the demand, the sale of DPHR data is projected to be one of BioPassport’s major revenue pipelines.
Remote Healthcare/Telehealth Services
The third and final phase of launch is BioPassport’s remote healthcare/telehealth service ecosystem. The major component of this phase includes the launching of the test kits for COVID-19, lung cancer, and atopy. Consumers will be able to purchase test kits from BioPassport individually, or through a subscription. Other services that fall under telehealth include digital risk stratification, diagnosis, and daily check ups for patients with chronic illnesses such as neurodegenerative disorders, heart disease, and asthma. The platform also offers counseling services for patients of mental illness. Through the platform, the patient will be able to interact with healthcare professionals remotely. Outcomes of sessions with medical professionals will be inputted into the patient’s DPHR by the medical professional. These services will be offered on a subscription basis.
