Of all the blockchain tech to be put to use this year, the average person’s healthcare experience will have some of the most significant impacts on everyday life. Not just over the long term but as soon as this month. There is no doubt the industry needs it.
The cost of care is increasingly expensive and the satisfaction rating in the USA has been on a decline. Blockchain has the potential to increase ease of use and satisfaction for all parties involved by reducing fraud, simplifying appointments, speeding up receiving test results and settling payments. A full revolution in the health care system that will affect the lives of millions by the end of 2019.
1. Solve.Care is at the top of the list for 3 reasons. The product is already on the market. It provides real solutions to all the main industry problems. AND the team has the experience and knowledge to pull it off. They have built a healthcare-specific blockchain that all members of the system will interact with.
It is currently being deployed to be used by more than 5000 care providers in the Arizona Care Network with other partners lined up to start later in the year. This system would largely eliminate situations that Ford experienced when she had her medical identity stolen. Solve.Care’s digital wallet allows the patient to integrate into the system thoroughly.
Furthermore, they can quickly locate in-network providers and book appointments without ever sending any unneeded personal information. Eligibility information and referrals are also all contained within the secure digital wallet.
Providers can use Solve.Care’s systems to handle patient coverages and deductibles, fast payment of claims and referral management. Even allowing for quick and secure receipt of things like test results or prescriptions automatically.
Developed by a CEO with almost 30 years in the healthcare technology it is set up correctly right from the start. It far exceeds most requirements of the HIPAA and for the safeguarding of data from hackers and the other requirements from the US government for protecting patient’s information.
2. Guardtime is well known for their management of secure critical infrastructure and has made a serious name for themselves by fending off some of the biggest attacks in the world. Which is why I put them at number 2 even though it is not a healthcare project specifically and it only works for the major issues of data security and provides little to no change for the patient experience.
It is still one of the most robust options. They have released little specifics on just what they plan to offer and how. Looking at the other products they provide it is clear they are focused on collecting and protecting data.
Well, it may not be an all in one solution but it should be a huge step up from the current system of secure storage most of the world uses today. They already have a deal with the Estonia government as well as a private provider in the UAE. The future is bright with excitement for what they bring to the table. When they do, it should prove to be a reliable addition to the industry.
3. Gem is built on the GemOS which works to integrate lots of different datasets into a universal solution backed-up by blockchain tech, which is put it in an ideal spot for bringing together the many different complex data systems currently storing this critical information.
For their health care on the blockchain solution, they are working with Philips, a European health provider, and Tieto to manage population data better. More specifically data during disaster response, when data security and access is often at its worst.
In some situations, like during a flood, lots of data is lost altogether. Bringing data to a convenient blockchain solution during a disaster means, desperately needed resources like blood and personal resources can be used to do the most good.
Without the worry that your decisions are based on severely flawed information, this solution is a long way off and mostly for companies to communicate. If you are interested in this tech, do keep a close eye on this solution. Even though you probably won’t see it affect your personal life any time soon, it can and probably will make a considerable impact when it’s needed most.
4. MedicalChain is an Electronic Health Records system designed to provide a standard interface between health practitioners and patients built on the Hyperledger Fabric. With this system, patients can access their health records securely and add more data to it.
For example, data from an Apple Watch can be uploaded into the Medical Chain blockchain, and doctors can easily access, medical records, doctors’ visits and more. This could prove an excellent universal system for healthcare info that the world’s public can easily use.
However, the system does not provide any solution for billing or identity theft which seems to be 2 of the more important things that blockchain tech use in healthcare can solve today. They already have nearly 80 doctors involved in its use.
5. Patientory has been in development since 2015 as a medical records system. The system is designed to eliminate the pain points in the current centralized environments. It is compliant with HIPAA and features mechanisms to allow for fast storage and retrieval of medical records.
This is an innovative solution that requires a close watch. Two things make it not a top choice. Patientory has a two-year roadmap that features payment processing and pharmaceutical integrations which is a long way off compared to its competition.
Also, there is nothing yet announced to address the medical identity issues which are an increasing problem for those that end up on the short end of that stick. Medical insurance fraud also means a greater cost for all of us who are forced to have insurance by law.
6. CareChain is a consortium of companies led by the Enterprise Ethereum Alliance and HyperLedger. They have been seeking members to join their alliance to develop technologies on the blockchain. They need members to join their alliance to include Hospitals, Care Providers and others.
The sheer amount of support both in terms of development as well as financial backing behind them means that they could easily be king. However, they have not yet demonstrated any developed technologies and look to be in the early stages of development.
7. Hu-manity states that all data should be under the individuals’ control as a human right. This would include Medical Data. Which I firmly believe in, for many obvious reasons. The amount of data sold behind the patient’s back is enormous.
Like Solve.care and Medical Chain, the individual can choose what data to share with the doctor and would be able to revoke access at any time. Unfortunately, it does little to handle the problems with medical billing or with enabling other practitioners to quickly review and diagnose medical problems without requiring approval each step of the way.
Furthermore, there is very little information about how the system works anywhere. Of the many products I have researched this one looks so awesome. Especially because of the relationship with IBM, it has gotten a lot of veg publicity that feels like marketing. Until the produce any content that shows us just what the plan is I am skeptical that there will be a functioning product any time soon.
Supply chain Solutions
Not all healthcare blockchain is working to help the user experience. A few are tackling the complex issues surrounding supply chain management. This is a huge issue with the system today and a very important way blockchain can work to help the world. With the illegal use of legal drugs and deaths along with them at epidemic levels, government bodies around the world are scrambling for a better way to keep better track of data.
1. Chronicled will help by keeping permanent records of every step of a substance from planning to when it reaches the end user. Right now, illegal prescriptions and sale of many scheduled substances find themselves in the hands of those that were not supposed to get them.
Chronicled plans to comply with the Drug Supply Chain security act which would make it easy for them to integrate and improve the current system in the next year. This type of tracking will also help prevent counterfeit medicines from getting to the consumer, even preventing them from being able to enter the supply chain altogether.
2. Blockpharma Estimated the counterfeit drugs make between 10 and 30% of all medications sold in developed countries. They plan to include the ability for any participants in the supply chain to alert the lab and other parties if they believe the drugs to be fake.
They also have an app that shows you where purchased drugs came from start to finish. Including the specific manufactures. The later implementation of smart algorithms will mean that more counterfeits and thefts can be found more quickly.
Many innovative blockchains solutions are going to change healthcare for us all soon. Some see results of the work of these company’s today. This list only covers about half total projects out there. Many are still new and coming out. Based on the research I did, it is clear that Solve.Care has a strong lead with the size of their launch, and total solutions offered.
However, we should not count out Gem, Guardtime, and MedicalChain. All these projects are still in the works and one day could prove to be leaders in the industry as well. The market is young; the competition is fierce. Who do you think will we see to be widely used first?
Ethereum [ETH] might have caught a break from bears due to formation of ‘Golden Cross’
Ether, more commonly known as Ethereum, is the world’s second largest cryptocurrency and it might have turned bullish due to the initiation of the ‘Golden Cross’ in the daily chart. Golden Cross, is when the 50-day simple moving average crosses above the 200-day simple moving average, which indicates that the price has turned bullish and that the cryptocurrency has bottomed.
Historically, Ethereum’s last Golden Cross took place in February 2017, when the price of ETH was ~$10; the price after this cross was bumped to $1,600, which was a meteoric rise of 15,000%. As bullish as this sounds, this might not be the good news that the crypto community is hoping for, as the ‘Golden Cross’ isn’t absolute and there are times when the crossover could be a fakeout. Crossover fakeouts had occurred for Bitcoin in 2014.
The weekly chart for Ethereum has been consistently forming higher highs since 2019, which is a bullish indication. The MACD indicator and the RSI indicators are both indicating a steady rise since 2019.
All aboard the ‘Speculation Train’
If another meteoric rise is to be expected from the crypto ecosystem, the price has to undergo a parabolic rise. The price of Ethereum at press time was $174 and had a market cap of $18 billion; assuming approximately 10,000% increase [instead of the 15,000% rise], the price of Ethereum would reach approximately $8,000 by March 2020.
A Reddit user @alkalinegs commented:
“if you look at the last golden cross early 2017 it took a few days till something happend. death cross 2018 even resulted in a bulltrap. -> dont expect an immediate reaction.”
Quite a few people use the exponential moving averages and disagree with the use of Simple Moving Averages, which is opinionated. Another Reddit user, @DeliciousPayDay commented:
“I strongly disagree. SMA 200 is more important and everyone in crypto looks at it. After breaking the 200MA at $151 ETH went straight to $180 before being sold off, and bounced directly off the 200MA the next day turning resistance into support. The 50/200 golden cross just happened on the SMA and the last time that happened ETH went from $12 to $1400.”
Ethereum [ETH] might have caught a break from bears due to formation of ‘Golden Cross’
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