This is our three minute discussion on how the SHARE Canine Health Cost Sharing system works. At the bottom, you can review the full 20 minute presentation by our founder, Dr. Gordon Jones
Now you see how SHARE provides comfort when your dog gets injured.
The app helps you help your dog while still at home,
helps you get to the right vet,
helps get you the right service for your dog, and
helps pay the vet after it's all over.
1, 2, 3 is our philosophy on how technology is a tool to serve us.
But you still may have questions, check out our FAQ below.
The SHARE Community has been incorporated in the State of South Carolina as a Public Benefit Corporation with an application to both the State and Federal IRS Agencies for 501c3 Tax Exemption.
It is expected that SHARE will be granted the exemptions by the Fall of 2019. All contributions will then be eligible for tax deduction purposes according the IRS statues regulating 501c3 organizations once approved. It's all about our dogs and their health and well-being! You are helping SHARE to build the "app for that" saving dogs lives.
Insurance is a contract in which one party agrees to guarantee another against a predefined loss in exchange for a premium. Insurance is a promise to pay by one party, meaning the insurance company, according to the specifics of the contract. SHARE is not insurance, but rather a community volunteering to help with payment for other members of the community. By taking advantage of existing Health Cost Sharing models for humans, SHARE is the first to introduce such a program in the pet industry.
Health cost sharing is how like-minded communities have been helping each other for millennia. In the US, the model was formalized in the 1980's through faith based ministries known as Health Cost Sharing Organizations (HCSO). Existing in every state, HCSOs serve ~1.2 million people and provide necessary funding for qualified health expenses. HCSOs have been validated as legitimate programs health programs qualified under the Obamacare regulations.
Actually no! As a matter of fact, because the SHARE Community provides funding of First Dollar expenses for your dog's emergency care, which means SHARE is paying the Out-of-Pocket, Deductibles and Co-payments that regulated Pet Insurance programs require you to pay upfront before they reimburse you. Only after you have joined the SHARE Community for First Dollar payment do we recommend buying Pet Insurance. Additional pet insurance should then be considered at amounts comfortable for you and your family.
Unlike Pet Insurance, the SHARE Canine Health Cost Sharing Community voluntarily contributes funds to pay First Dollar for emergency services. The by-laws of the SHARE Community will have defined procedures of pre-qualified emergency services, however the veterinarian will determine the immediate medical needs of your dog. Basically, if your dog cannot survive without immediate care or if their quality-of-life is in imminent danger, the SHARE Community will fund those services.
SHARE believes in personal responsibility of pet guardianship. This includes a willingness to self-pay for routine services of caring for any companion animal including such basics as feeding (even prescription diet foods), vaccinations, heart worm medicines, tick and flea treatments, grooming, nail clipping and dental cleaning. While these may be covered in some Pet Insurance policies under a “Wellness Program,” it's one reason premiums are so high. Those services are actually outside the definition of "insurance" as earlier noted.
It means exactly that - the first dollar of the qualified service provided by your veterinarian the SHARE Community will fund and pay. Qualified services are focused on emergency services to save your dog's life or stabilize your dog's quality-of-life needs as recommended by your veterinarian. Each level of membership has an accompanying level of funding you receive from other members paid directly to your veterinarian.
The short answer is... as you develop your family's profile within the SHARE applications, our learning engine gains understanding as to what type of vet care events you would most likely appreciate your monthly contribution going towards. When a SHARE member has a qualified need for their dog, SHARE uses the algorithm to find those members who would most understand and contribute to that care.
When the “Empathy Algorithm” selects you to contribute to a Vet Care Event (VCE), the system will automatically assign your contribution to that VCE. When you are selected for a VCE, you may review it and manually decline your voluntary contribution. If you decline, you will automatically selected for another VCE within that month. At the end of each month all contributions remaining are contributed to the SHARE Grants account.
If you do not contribute your monthly share for any particular month, your eligibility resets and you must contribute again for three consecutive months before your dog's VCE will be funded by the SHARE Community. There are no long terms contracts, no requirements for you to make your monthly contributions, this is a voluntary program. But if you don't share you can't expect the SHARE Community to fund your VCE needs. If you pass on all VCEs during the month, your contribution will move into the SHARE Grants account and you still qualify for funding of your dog's VCE as needed.
If your veterinarian has not heard of SHARE yet and not set up a SHARE Account in the SHARE payment system, an account will automatically be created for them when you and the vet agree to the service and costs and the SHAR Smart Contract is generated. Once the service is provided, the vet's new SHARE account will be funded immediately with SHARE Points equaling the agreed cost of the service. The vet will then be able to convert those SHARE Points into US cash and move the funds into their bank account. It is expected that as each veterinarian gains more SHARE members in their clinic, they will actively manage their own SHARE account.
A smart contract is a legally binding agreement that is generated between you and the veterinarian within the SHARE mobile application. It is establish based upon the VCE and the agreed cost for the service. Once generated, the Empathy Algorithm goes to work instantly finding SHARE members to contribute to the VCE and the app illustrates that the funds eligible for your level of membership have funded that SHARE Smart Contract. As soon as you validate that the veterinarian completed the service to your satisfaction, the funds attached to the SHARE Smart Contract immediately move into the veterinarian's SHARE account as payment.
This video is our 20 minute full presentation for all stakeholders within the SHARE community to understand the innovations we are bringing to how we care for our dogs, provide comfort in case of emergencies, as well as fund other needed services through our SHARE Grants Program.
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