There is nothing inevitable like evolution. Sometimes-most of the times actually, changes are resisted because people are comfortable with status quo. However, when we change good things happen. We have seen the benefits of this slow, natural and progressive evolution in almost every sector of the economy. Technological advancement ushered in timely innovations that not only improved productivity but drastically reduced redundancy.
In the health industry for example, efficient and time saving technologies like robotic surgeries, incorporation of artificial intelligence and 3D printing for example, have not only improved efficiency and speed but it’s the sheer accuracy is mind blowing. It has proven so good that many leading medical professionals laud the technology and knowing the full potential of blockchain, the synergy it can create would be unimaginable.
Evidently, there is a huge disparity between private and public healthcare and one thing is clear. The field needs to be leveled. Hard statistics from Deloitte shows that by 2020, governments all over the world will have to spend a further 10.5% of their GDP on health care as their populations continue to age and chronic ailments continue being lethal.
Of the $8.7T projected to be used by 2020, $4T will be used to address growing concerns of cancer, cardiovascular diseases and diabetes caused mainly by poor eating habits and sedentary lifestyle. By then, it is estimated that China will have more than 100M living with diabetes with Dementia cases expected to double by 2040.
Of course, we cannot say blockchain will be a complete remedy for all the problems but things like security of key data will be guaranteed. Storage will be done chronologically and systematically in a tamper proof system that is decentralized to millions of supportive nodes all over the world.
The good thing about this mode of storage is that all data will have a time stamp that automatically makes data reliable and brings it a tinge of accountability. This will definitely help bring in standardization and help foster a robust health care system which ensures that everyone has access to quality data or doctor’s expertise and this helps reduce costs and wastage.
In a bid to control the ballooning expenditure, laser measures have to be taken to weed out inefficiencies and this can be achieved if there are incentives. We have seen this work in Japan where METI reward companies that engage actively in implementing preventive measures as health and productivity management.
Rewards can be extended to those companies in the forefront providing disease and data screening which in turn can boost monitoring but the limiting factor here got to be availability of funds at country levels, diminishing talent and rising human capital cost. Inefficient data stores called EHR systems also makes data analysis and sharing difficult.
If blockchain technology is introduced, some 6 key concerns might be addressed:
- There will be proper data management as data registration disparities preventing interoperability will be eliminated
- Improved access to cheap healthcare especially for patients without health insurance through referrals and even video consultation.
- Authentication of all healthcare providers courtesy of a blockchain based registry system. With blockchain, patients can skim through all verified providers and prevents permanent damage through botched surgeries and other unwarranted procedures
- Fight against counterfeit drugs which the H.O found to contain wrong ingredients that worsen the condition with adverse side effects.
- Better and proactive approach in population management especially during large scale emergencies. During these times, sharing of heavy data is literally impossible due to silos and systemic inefficiencies.
- With standardization and security that blockchain and smart contract brings, inter-operational fraud can be a thing of a past. Payment for example will be automated and done transparently without human interference.
In a bid to address these, Healthureum main objective is to change the way healthcare management is handled and executed. To make this a reality, they plan to introduce a versatile and a dynamic system that runs is powered by blockchain.
By introducing blockchain, Healthureum guarantees all users-patients-an efficient system where not only can they access the best medical professionals, services or infrastructure, but they would be granted access to innovative treatment plans and other sponsored programs that they would not otherwise dream of access.
Healthureum will run on Ethereum meaning that besides the underlying blockchain technology, smart contracts will effectively standardize and scale operations. The social responsibility aspect that is the basis of this programs will also ensure that the field is level and healthcare services are affordable to all patients even those without insurance. While it brings standardization, chronological storage of patients’ data in a decentralized environment means all data will be safe and free from manipulation.
This platform will work with the following health providers and facilitating infrastructures as it tries to streamline and bring efficiency in the health industry:
Healthureum is all about efficiency, affordability and security. If creating synergy is the main aim, then all subjects’ data-identifiable and non-identifiable- needs to be consolidated and stored in a single secure and trustless platform where security is guaranteed.
Because of blockchain and cryptography, all of patient’s data will be easily accessible and stored chronologically in a tamper proof read-only environment. This way, not only will Healthureum be on the forefront implementing EU’s General Data Protection Regulation (GDPR) due for implementation by Q2 2018 but they will also help in creating a valuable and efficient blockchain based EHR.
While on the platform, patients can consult verified doctors and even have a second opinion assuming they are not sure of their initial prognosis through Healthureum video consultation.
Healthureum will create an API where doctors will only access permissible data but will be linked to other organizational systems that fosters cooperation.
These APIs will be designed in such a way that the doctors access enough information to have a longitudinal view of the patient’s health. This way, doctors can give their give their prescription and even recommend a qualified specialist within your locale.
Invest in proper medical infrastructure
By introducing blockchain technology, Healthureum will be in a better position to measure ROI, usage and platform demand, general reliability and supply chain and required maintenance and upgrade if necessary.
If new forms of medication are to be discovered, then research and learning must be the function of any medical platform. Healthureum understands this and plans to put in place research programs using blockchain to track and record all necessary research data in an easily accessible, secure and scalable environment. This way researcher would not only be proactive especially when it comes to monitoring of diseases as AIDs or Cancer but willing patients not part of the research can volunteer to submit data for studies through a secure API.
One of the main objectives of Healthureum is to make healthcare easily accessible and cheap for everyone. Interested parties can help fund several projects through the platform accented philanthropic activities which will include: funds channeled towards innovative research programs geared towards treatment of HIV, Cancer or Hepatitis.
At the moment, we cannot know the founder or the co-founders. The only public information available is that Malcolm Wilkinson is the CTO and a Data Scientist bringing with him 15 years of valuable experience in big data analysis through Python. Other team members include Tomoi Sei also known as The King of Gingseng is the president of I.T.B.S Corporation and his position in the team is undefined and Danuta Kowalska, the chief Project Officer. They will be advised by Subrata Roy Sahara.
A lot is expected from Healthureum and as the company tries to navigate through its detailed road map, funds will be needed. They plan to raise these funds by issuing ERC-20 compliant utility tokens called HHEM. These tokens will be used within the platform to purchase services in a fast and secure environment.
There will be 150M HHEM tokens and each token would be sold at $3.53 during the presale.35.7M HHEM tokens will be sold during the crowd sale period and investors can purchase them using ETH, BTC or ECH.
The main ICO begins on February 10, 2018 and run for 34 calendar day ending on March 16, 2018 during which 28.3M HHEM tokens will be available. All liquid coins collected during the ICO will be stored in a secure multi-sig wallet and when the ICO is complete, HHEM coins will be distributed in a transparent manner.
There will be a bonus program for early investors. Those who purchase HHEM tokens within the first day will get a 22% bonus and thereafter, it will be 17% valid throughout the first week of the crowd funding.
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We all can all agree that something needs to be done to streamline the health care industry. While we understand that blockchain technology cannot be a one stop solution to all our problem, ingenuity needs to prevail.
Healthureum brings that to the table and is even set to create this easily accessible EHR data system that can change the way the general population health is stored, tracked and even analyzed. In my opinion, Healthureum has a very huge mandate to fulfill and this project will surely need money to be actualized that is why investors need to part with $3.53 for each token.
The project is grand but the team is a 2-star with no health care personnel included in the team. It would have been ideal and going forward, more needs to be done to address this problem. It just doesn’t make sense not to have seasoned medics or consultants in a healthcare project right?