Problem/Opportunity: Technology for accurately tracking of physician Continuing Professional Development (CPD) credits from tens of thousands of CPD activities in Canada does not exist. Illegitimate CPD courses being claimed as authentic by the misuse of accreditation statements and logos. Physicians must enter the hundreds of credits they receive into one of two national medical colleges’ systems in order to be eligible for license renewal every year. Incredibly, the current College systems allow for illegitimate credits to be entered because there is no robust cross-checking system.

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Solution: Digital certificates built on blockchain technology solves both problems, time and authenticity, at once with a single, secure system for issuing credits. With Accredible's blockchain platform, each credential issued by an accredited-provider would live at unique url, and could be verified by other parties such as medical regulatory agencies, member Colleges, accredited-providers and licensing boards.

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Financials

​Participation in accredited CPD helps physicians meet requirements for maintenance of licensure, maintenance of specialty board certification, credentialing, membership in professional societies, and other professional privileges. In Canada, 80,000 physicians require credentials for 250-400 CPD credit hours every cycle, which represents 8 million credits issued in Canada every year. At currently $50 per credit issued the amount spent of issuing credit annually is $400M.

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Expansion: Use of a system by an accredited CPD provider that solves these commonly known issues could be easily explained and illustrated to the other accredited-providers in Canada. For providers, likely the cost and time savings alone would be the main draw, with the authenticity piece as an added bonus.

 

​Accredible's current financial status: Accredible, an existing service that has had 1 seed investor for $3.5M.

 

Intended investment: $1M from UBC CPD. Equity percentage owned by investor = $1M/($1M + $3.5M) = 20%

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Scalability: Once UBC CPD successfully makes use of the new credit-issuing system, the next step would be to sell the service to the rest of the CACME-accredited CPD providers in Canada: University CPD offices (16), Provincial College Chapters (10), National Specialty Societies (25)

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