The Move Towards Healthcare Blockchains

  • Earlier this year Google’s British AI division DeepMind announced the launch of a blockchain like ledger for managing healthcare data.
  • The tokens, known as PTY, will be traded via a secure, closed loop ledger system that aims to connect up all parties in the healthcare ecosystem to allow for the exchange of health data within a highly-secure, blockchain powered health information exchange (HIE).
  • The company believe that their use of blockchain will encourage providers to offer better care to patients, whilst also adopting innovative practices that join up care more effectively through the sharing of patient data.
  • Using blockchain technology, Patientory encrypts medical patient information in hospitals and insurance companies so that it is not centralized data, but it is distributed, thus meeting HIPAA Security Rules.
  • We are certainly in the midst of a digital health revolution however, and whilst I’m not sure that blockchain will play an inevitable role in providing secure and patient centered data, it will it seems inevitably play its part in our move in that direction.

Earlier this year Google’s British AI division DeepMind announced the launch of a blockchain like ledger for managing healthcare data.  The aim is t…

@CryptoGuy911: Huffpost wrote about $Ptoy !!!!
The Move Towards Healthcare Blockchains

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Earlier this year Google’s British AI division DeepMind announced the launch of a blockchain like ledger for managing healthcare data.  The aim is to automatically record every interaction with patient data in a secure manner.  The nature of blockchain supports this, as every interaction with a piece of data is recorded.

“Several innovative start-ups are combining blockchain technology expertise with healthcare industry experience to develop platforms and solutions. This market insight examines the foundations of blockchain, cryptocurrencies, and smart contracts, and presents profiles of start-ups in the industry,” it says.

One company that is perhaps more advanced than most is healthcare startup Patientory, one of the leading exponents of blockchain in healthcare.  Their mission is to connect digital medical records without compromising privacy.  They recently announced the first token sale of its kind in the industry.

The tokens, known as PTY, will be traded via a secure, closed loop ledger system that aims to connect up all parties in the healthcare ecosystem to allow for the exchange of health data within a highly-secure, blockchain powered health information exchange (HIE).

“In order for the US to successfully move away from the fee-for-service model to the current value-based model, there has to be a healthcare IT infrastructure that allows organizations to link quality, value and effectiveness of medical interventions through a reputable compensation model,” the company say.

“Our proposal renders the ability for payers to transfer PTY tokens as incentives to providers that offer superior care that yield better patient care outcomes to be compensated proportionally to their effort in the resulting shared savings,” they continue.

Using blockchain technology, Patientory encrypts medical patient information in hospitals and insurance companies so that it is not centralized data, but it is distributed, thus meeting HIPAA Security Rules. Being able to coordinate patient care via a blockchain HIE essentially alleviates unnecessary services and duplicate tests with lowering costs and improvements in efficiencies of the continuum care cycle.

We are certainly in the midst of a digital health revolution however, and whilst I’m not sure that blockchain will play an inevitable role in providing secure and patient centered data, it will it seems inevitably play its part in our move in that direction.

If you would like to learn more about Patientory’s philosophy and approach to using blockchain in healthcare, I can recommend their recently published paper on the topic.  It provides a detailed description of their vision, the market, development roadmap and the upcoming crowd sale of its tokens.

The Move Towards Healthcare Blockchains