Many of the leading industry players admit to the acute technological obsolescence plaguing the healthcare industry, the reason for which is often pegged as its rigid structure and reservations at adopting new technologies. To point an important modern notion, one of the most crucial of institutional enterprises, the healthcare sector far from being a pioneer at leveraging modern tech has a knack of shying away from virgin technologies. And this is in stark contrast to some industries noted for their quick transmission to state of the art tech, and otherwise are themselves drivers of market demand, which is a prerequisite for commercialization of the technology itself! The curious case of one thing leading to another! Consequently, for the purpose of satiating these very ‘critical’ industry requirements as its raison d’etre, Healthureum through the help of blockchain technology aims to reform the healthcare sector by making it more transparent, effective, and accessible for all.
By developing a holistic management platform that caters to each of the stakeholding entities at every step of the healthcare process, the variables detrimental to the process of administering a consistent, accountable and affordable healthcare service are prevented from occurring in the first place. The Healthureum platform brings exciting new features that are sure to spice up the industry and ensure that every patient and their families have a hassle-free experience. By considering the challenges from each users’ perspective, the patient which is the most important stakeholder and henceforth ignored by all, The primarily six goals of Healthureum are: innovation in service provision, cost reduction, efficient service delivery, timely and efficient operations, regulation of global health standards, and population and health management.
Medical Healthcare Reforms:
Nowhere to be seen in today’s seamless healthcare systems is the systemization of data, securing it as well as facilitating its proper utilization. Implementing Blockchain Technology rectifies exactly these very shortcomings. Further, the introduction of Smart Contracts (emerging from time stamps in blockchains) leads to three very important attributes namely, standardization, scalability, and social responsibility. Highly influential experts from both the medical and technological fields have expressed their optimism regarding this disruptive new integration. The massive potential within Blockchain technology can transform the manner as well as the superstructure under whose guidance the healthcare procedures have been operating. A decentralized healthcare system assists in eliminating the gap between different services, though the real change would be usher in from cultural adjustments. But let’s not delve into the metaphysical for now.
The most far-reaching and significant advantage emanating from the use of such a platform is the instantaneous medical assistance it provides in the case of an urgent need for prognosis. The patient through this new platform from Healthureum can avail a doctor’s consultation as a second opinion, in the case of a doubtful diagnosis or a dubious treatment plan proposed by a general practitioner. Further, the ease it brings for people with busy schedules and who are not in a position to personally attend to a commitment is another plus point. However, the major impact is expected to be on people experiencing especially complex and rarest of symptoms, and have limited access to healthcare advisors. This advancing technological breakthrough can serve as a boon for those with an urgent need for specialist consultation.
Backdrop of Financial Question: The Elephant in the Room :
In every bit of fairness and duly crediting the medical institutions, the pioneer industry influencers, and all stakeholders; Addressing the problems of data and health management, accessibility and affordability, authenticity as well as discouraging fraudsters etcetera have been on everybody’s conscious for more than three decades now. However, in the face of rising global healthcare expenditures, hospitals and clinics are unable to bear the financial burden of ensuring thorough and effective medication. Functioning under such a competitive environment and the increasing health concerns proportionate with medical costings, many of the institutions are finding it hard to survive and stay in business. Healthureum aims to discursively introduce healthcare reforms as a counter strategy to these problems. By bringing together under a single network and facilitating medical exchanges and movements between infrastructure, the supply and the regulators, and data and the consumers, Healthureum has showcased dramatic reductions in operating costs as well as significant improvements in quality of the contemporary administrative procedures.
A Reliable System of Blockchain :
Blockchain, the building blocks of cryptocurrencies are a safehouse network for data. Once the information has been entered into the blockchain network, the extremely reliable technology safeguards it against any manipulative alterations. Changes to the stored data can only be made with the consent of respective stakeholders as well as majority entities on the network. The Healthureum platform armed with cryptographic data security measures prevent all kinds of hacking as well as any illegal exchanges by medical personnel of the patient’s data, thus protecting it from being misused. The decentralized ledger reduces the chances of data leakages, and it allows patients to view or modify particular records as per their convenience.
By employing the same technological principles used to secure all digital monetary transactions or tokenized transactions, this new platform from Healthureum can potentially save the healthcare economy from losses due to cybercrime to the tune of 300 billion USD. Healthureum system guarantees reliable means of procuring medical services with secure payment procedures. Patients can access the historic medical records that are shared with the respective physicians for time references. Medical transactions and payments can be made using the highly secured and extremely accountable HTH token. And the methodology of using the same token for compensating physicians responsible for providing referrals within the network of practitioners on Healthureum is another added benefit. Any purchase of a service or an equipment on the platform is not only processed in a speedy manner, it is thoroughly secured through cryptography level security. Imparting an astute level of transparency, the platform presents an innovative approach to the sharing of medical records between patients and healthcare providers in a meaningful and interpretative manner.
Minimizing Fraud :
The dynamic new ecosystem interconnects all entities in a secure network, as it provides
a level ground for managing transactions and data ensuring value-based care to patients. By simply housing all healthcare requirements on a single platform, the system facilitates a very high degree of convenience, and rigid control over personal transactions and medical data. Of credence is the opportunity of dealing directly with suppliers and regulators, thus reducing time and costs attributed to middlemen as well as third-party rake-offs. The fact that traditional data is susceptible to manipulations and this results in an elevated cost of the medical transaction has been duly addressed by the platform. Further, the penetration of counterfeit drugs is thwarted on all levels, as this situates quality health care beyond the reach of common folk.
The mainstream improvisation by optimizing the existing healthcare workflow, incorporating the Healthureum model has a huge potential at saving billions of dollars for the industry. Providing a central, omnipresent point of reference eliminates any kind of deviations which result out of fraudulent activities. The patient-centric, blockchain intensive model is expected to plug all loopholes in healthcare procedures. And this would ensure that patients irrespective of their socio-economic backgrounds get complete access to essential healthcare facilities.
Under an Emergency Scenario :
In a hypothetical emergency situation, first respondents would have access to the patients important information and their medical history, from blood group to allergies, and also pre-existing illnesses to the current prescriptions if any. Its much faster than the current methods, and can thus be instrumental in matters related to ‘Life and Death.’ Healthureum will help save more lives by reducing the time spent trying to retrieve patients’ records. Integrating data systemization in healthcare facilities and nursing homes is bound to have an impact on the health administrators conduct, as the consolidated information within records on blockchain will hasten the emergency response. The mutual sharing of data and counsel between doctors, specialists, laboratories, and likewise the billing departments would become a routine affair. Backed by the monumental power of Blockchain Technology, the Healthureum system oversees the return on investments, and with a reliable supply chain, it augments the demand for usage. All these factors help healthcare institutions to become financially stable and safe from fraudulent activities.
The inherent Mass Appeal :
Not just patient by patient, Blockchain technology in healthcare could facilitate complex data exchanges and nodal agreements between health institutions. This would be extremely critical during an epidemic or a high-risk scenario. The use of blockchain could even be augmented for monitoring population health, and in the quick identification of vectors and trends during a sporadic outbreak. It would encourage a proactive approach in recommending the best practices, eating as well as exercising habits as a means towards risk reduction in case of future epidemics. Providers of health insurance also stand to benefit as they’d gain intelligent insights into individual’s general health and habits, and subsequently allowing for the reassessment of risk profiles with precision and conviction.
Conclusion :
The primary intent of Healthureum is to innovate the healthcare industry and transform its efficacy using blockchain technology. The biggest of arguments in favor of this is that not only the patients can experience an improved healthcare ecosystem, but the various physicians, regulators, suppliers, and institutions can enjoy amazing business growth. The improved monetary returns coupled with reliable healthcare services translate into significant contributions for the welfare of entire society.
