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I've had this idea in my head since 2019, what if it was legal in the US for people to get paid to become a donor.
2 years later, I think I've worked out a framework, but unfortunately it looks like I missed the cutoff date for state ballot initiative requests for the 2022 election cycle.
So here's my framework
Adopting a VC style of investment.
-people are paid a set price for the exclusive right per organ.
-they are given the money upfront, no exams needed
-there are no lifestyle restrictions
-the transplant only occurs after you die
-your estate is given equal or more money than you were given upfront
-if the organ is no longer viable, no big deal, just the cost of doing business. Your off the hook.
-if you change your mind, no big deal, pay back the money at 10% interest to remove your name off the list.
-you must be 18 years or older to apply
-you can enroll your children into the program. Same rules apply, money upfront, transplant only happens after death. On their 18th birthday, they are removed from the program, and have the option to re-enroll. If accepted, same rules apply.
The idea here is that there are over 100,000 people in US in need of transplants and not enough donors. Over 8,000 people die annually, with most waiting over 3 years. The longer they wait, the less productive they become, not including all the stress due to uncertainty.
My proposal is would provide cash upfront, work like the typical VC/Crypto model where you diversify and only need a small handful to breakeven.
The exclusive right would be sold to insurance companies or governments, who would pay 3-5x multiples.
Example 1
Jim, 20 years old, male, lives in Denver Colorado.
He sells us the exclusive right to both his kidney's for $500 each upfront.
We then sell the right to XYZ insurance company for $50,000 per kidney.
I'm assuming insurance companies would then sell term life organ policies to cover expenses.
This transaction is beneficial because insurance companies generally have to spend about $25,000 per year for some dialysis treatments which take up 10+ hours per week for the person in need of a transplant. We are filling the demand. And the cost of the transplant surgery wise is often $100-200,000 anyway. But because their policy holder becomes more productive and increased years to live, the insurance company can justify the expense. Plus based on public data, there are 33,244 fatal motor vehicle crashes in the United States in 2019 in which 36,096 deaths occurred. This resulted in 11.0 deaths per 100,000 people and 1.11 deaths per 100 million miles traveled. The fatality rate per 100,000 people ranged from 3.3 in the District of Columbia to 25.4 in Wyoming. Also based on the numbers, it seems that men in the US begin to start dying in their 40's/50's, 10 years earlier than women. I want to avoid culture war issues and really focus on college kids and not the poor, I don't want this being seen as a payday lending scheme.
I'm working on the website now. Will start on the blockchain next month. The goal is to raise money to get this on the ballots of state elections for the 2024 Presidential election cycle. I want to amend the first line of the current law prohibiting the sale of organ donations after death. This is a felony currently. The average signature needed is about 100-300k per state and seems to be a huge undertaking. Do you guy's see the crypto community getting behind this effort either as early investors or joining the waitlist? What do you guys think of the concept overall.
Blockchain
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Each transaction will be available in a blockchain. Those in need will know where in line they are, but the public won't know the names of said people, only the public ID's, and transaction codes.
-shows transaction data
--new donor registration, payout, removal, death
--donor recipient moving up in line, currently in surgery, successful transplant
--insurance company, policy sales