I thought we were done for now discussing Trump 2.0 appointments, particularly those related to healthcare. However, recent events have shifted the focus. While I had planned to move past this topic for 2024, I can’t ignore the new developments. Plus, the high-profile headline surrounding the “assassination” of UnitedHealth CEO Brian Thompson demands attention, which I’ll address in the next blog. The conclusion here will lead to where we’re headed.
The New Czar for AI and Crypto
Amid the overwhelming news about UnitedHealthcare’s CEO, I missed the announcement by President Trump of former PayPal executive David Sacks as White House AI and Crypto Czar. The combination of AI and crypto piqued my interest, as those who follow this blog are familiar with our commitment to AI in healthcare and its transformative potential for consumers. While our immediate focus is on AI for healthcare, we also have a keen interest in blockchain technology, particularly the concept of a utility token for payments.
In fact, we discussed this idea in 2022, and you can explore our blog series, starting with the first post here.
We even filed and secured patents in 2021 (after designing them in 2019), with the help of amazing attorneys at Nixon Peabody LLP, for methods involving blockchain and utility payment tokens in healthcare. One of our issued patents, # 11,121,877, involves securely transmitting electronic healthcare records via blockchain.
Here’s an overview of the patent:
Abstract of Patent #11,121,877
SECURE TRANSMISSION OF ELECTRONIC HEALTH RECORDS VIA BLOCKCHAIN
The present disclosure provides a method for securely transmitting electronic healthcare records between computing devices in communication. A request is received to access a database of electronic health records, checking for an authorization requirement, and generating a token associated with the authorization requirement and the received request. The token corresponds to a block in a Blockchain. The block includes a cryptographic hash of a previous block, a timestamp, and transaction data related to the received request, and at least one authorization requirement. The token can be sent to allow access to at least one electronic health record in the database of electronic health records.
I find it fascinating that President Trump has combined AI and crypto under one Czar. As reported in The Wall Street Journal, President Trump has appointed David Sacks, a close confidant of Elon Musk, to the role. Trump’s vision is to create a legal framework that allows the crypto industry to thrive in the U.S. This, coupled with proposed changes to the SEC and CFTC, and the addition of an AI and Crypto Czar, has pushed cryptocurrencies like Bitcoin and Ripple to record highs.
David Sacks, an economist and lawyer from the University of Chicago Law School, is considered a key member of the “PayPal Mafia” alongside other tech giants like Peter Thiel and Elon Musk. Sacks has been an outspoken advocate for cryptocurrency since at least 2017, noting that we are witnessing the birth of a new web—one that is decentralized and based on the “internet of money.”
Mr. Sacks’ ties to Musk are significant, as Musk is a proponent of both AI (through his company xAI) and crypto. It’s even speculated that Musk suggested the name “Department of Government Efficiency” or DOGE, a nod to his cryptocurrency, Dogecoin.
We believe blockchain has potential applications in healthcare, especially on the fringe of the sector. For example, our business plan includes using a utility token for platform payments, as described in our patent. Initially, investors dismissed this idea, thinking it too risky. However, we believe the SEC could view a utility token as a legitimate tool that meets a need rather than a speculative asset. Time will tell, but we hope to make the case for a practical, transactional utility token.
While blockchain and crypto are fascinating, our primary focus is on AI and how Sacks balances its potential in healthcare. Given the current concerns around data privacy, security, and regulatory frameworks in healthcare AI, especially for large language models (LLMs), we look forward to exploring these issues further. We will address some of these concerns in future blogs, particularly regarding outgoing U.S. FDA Commissioner Robert Califf, MD.
Consumers Are Furious About Healthcare
Healthcare spending has steadily increased over the decades: from 5.1% of GDP in 1960 to 18% in 2024, with annual expenditures now topping $5 trillion. We’ve long predicted that the system would eventually break, but now it’s clear that it has. Consumers aren’t just upset; they’re angry.
A recent Gallup Poll revealed that 80% of Americans are dissatisfied with healthcare costs. The reality is that the system is broken, and the road ahead won’t be easy or painless.
We stand with consumers 100%. Having spent 30 years in the healthcare system as an operator, I recently experienced it as a consumer. As a former administrator of 40 medical and diagnostic centers, I was disheartened by the poor service. The system’s grade would be a D-—saved only by well-trained staff operating diagnostic equipment. While my experience ultimately ended well, the system failed in nearly every other respect. We’ll dive deeper into this issue in our next blog.
You can read more about Sacks’ appointment in The Wall Street Journal here.
-Noel J. Guillama, Chairman
About HealthScoreAI ™
Healthcare is at a tipping point, and HealthScoreAI is positioning to revolutionize the industry by giving consumers control over their health data and unlocking its immense value. U.S. healthcare annual spending has reached $5 trillion with little improvement in outcomes. Despite advances, technology has failed to reduce costs or improve care. Meanwhile, 3,000 exabytes of consumer health data remain trapped in fragmented USA systems, leaving consumers and doctors without a complete picture of care.
HealthScoreAI seeks to provide a unique solution, acting as a data surrogate for consumers and offering an unbiased holistic view of their health. By monetizing de-identified data, HealthScoreAI seeks to share revenue with consumers, potentially creating a new $100 billion market opportunity. With near-universal EHR adoption in the USA, and advances in technology, now is the perfect time to capitalize on the data available, practical use of AI and the empowering of consumers, in particular the 13,000 baby boomers turning 65 every single day and entering the Medicare system for the first time. Our team, with deep healthcare and tech expertise, holds U.S. patents and a proven track record of scaling companies and leading them to IPO.