Three highlights of the healthcare industry in 2017: they used the blockchain to do these things
The author, Katherine Kuzmeskas, is the CEO of SimplyVital Health, a blockchain company that aims to bring security and transparency to hospitals and physician groups through technology.
Nearly 2018, two things have been made clear: the time is ripe for health care, and blockchain technology is providing a huge opportunity for the transformation of this industry.
From medical records to drug supply chains to payment distribution for smart contracts, there is ample potential for growth in healthcare to take advantage of blockchain technology.
But it seems that in 2017, the public has not felt much progress. But for Kuzmeskas, who works in this industry, it is actually far from it.
Three iconic companies have emerged this year. It is not difficult to find that the reasons for their success are: bold goals and style rooted in the actual implementation.
In marketing, each company needs to consider “how to improve efficiency or reduce costsâ€, and these three companies are typical representatives of existing business model opportunities and healthcare needs when products are marketable.
MediLedger project
There is a long-standing problem in the pharmaceutical industry: how to prevent stolen drugs or counterfeit drugs from entering the supply chain and being transferred to patients. Blockchain technology can play a role in this issue.
In September, the MediLedger project was announced – a blockchain tool for managing the pharmaceutical supply chain is being created. These companies, including pharmaceutical giants Genentech and Pfizer, have successfully completed a pilot project to track drugs.
If this new project is successful, pharmaceutical companies, wholesalers, and hospitals can record information on drug shipments on the blockchain. This means that at every stage of drug distribution, computer networks can prove the origin and authenticity of drug shipments, and drug theft and counterfeiting will be more difficult.
The MediLedger project was supported by LinkLab, a supply chain consulting organization, and began developing its software using the enterprise version of the Ethereum protocol Quorum, backed by JPMorgan Chase. The adoption of the Drug Supply Chain Security Act may greatly advance the project, which requires companies to take a series of steps to establish a more uniform drug tracking system.
Chronicled is a San Francisco-based company that developed blockchain tools for MediLedger. The company's Ryan Orr said the pharmaceutical industry is already using some software to manage the supply chain, but these links are made up of different databases. Therefore, the introduction of blockchain systems is a major advance.
Genentech also sees the blockchain as a logical extension of its work to assign traceable quantities to drugs.
Marc Watrous, the company's senior vice president of managed care and customer operations, said in a statement: "It is incumbent on us to ensure the safety of patients' medications. We also look forward to blockchain technology for us in the drug supply chain pilot. Show more potential."
SimplyVital Health
Connecticut-based SimplyVital Health (SVH) has created a new data sharing solution. Health Nexus is an independent blockchain healthcare ecosystem that integrates with existing healthcare systems to reduce the cost of loading.
Because it uses a licensed ledger—not an open protocol like the Bitcoin network—it is more likely to ensure that all miners and participants who maintain the network are verified entities. Therefore, the platform is secure enough to handle as private and sensitive data as medical records.
The immutable features of the blockchain project provide evidence for these medical treatments, while the security simplicity of data sharing allows the patient to coordinate all aspects of the patient's entire treatment process, for surgeons, specialists, outpatient appointments, and post-mortem review. Can make a smooth transition.
As a result, medical care costs across the supply chain will be further reduced.
Their current platform, ConnectingCare, has been commercialized and is the first example of the use of blockchain technology in the healthcare sector.
It is reported that SimplyVital Health is building another blockchain infrastructure and agreement - Health Nexus. This branch of Ethereum not only meets the requirements of the Health Insurance Portability and Accountability Act (HIPAA), but also provides a new medical validation and management agreement.
Health Nexus also builds a key matching system for secure data sharing.
The company's goal is ultimately to use the Health Nexus to bring blockchain healthcare services together on a global scale.
First, they need to connect and develop the ConnectingCare platform and then develop the medical data market, which is what the community needs most.
SimplyVital Health will also be responsible for the delivery of Health Cash (HLTH) tokens, which will provide incentives for miners as they maintain safe network operations and help promote ecosystem growth and safety – and bring zones The revolutionary advantage of blockchain technology and the continued delivery of this advantage to a new generation of healthcare providers.
Robomed Network
The Robomed Network is a decentralized medical network designed to provide the most effective medical services while promoting global health equity. This is a new healthcare model based on value and blockchain smart contracts.
The uniqueness of the project is the ability to link health care providers to patients based on a smart contract whose value criteria are determined by performance indicators and patient satisfaction for specific health services.
Robomed Network co-founder Philipp Mironovich explains: "In the challenging environment of high-quality healthcare demand and rising costs, addressing the issues of non-value-added business inefficiencies and clinical errors is key to the healthcare industry in the future. â€
This groundbreaking concept of focusing on patient medical outcomes is new to the medical market.
In other words, the Robomed network is the first system that patients pay for results rather than the medical process itself.
The Robomed Network also distributes its own tokens, enabling smart contracts between healthcare providers and patients. It also provides clinical guidance for health care providers. These clinical guidelines are continuously improved by the professional medical team and have incentives.
The Robomed network was first launched in Russia and Dubai, with nearly 9,000 patients, 30,500 service personnel and nearly $2 million worth of services.
As the medical market continues to transform into value-based healthcare, these solutions that bridge the gap between suppliers and patients will continue to be welcomed by the market.
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