Though the blockchain technology has been around for a sizable amount of time, it was only in the last few years that the innovation actually began creeping its way into the medical sector. Early-stage companies driven by the technology have, however, begun tackling issues in healthcare - from the interoperability of medical records to the management of pharmaceutical supply chains. Corporates, on the other hand, are investing in and launching initiatives to bring blockchain-derived solutions to the broader tech healthcare system.
This is a good example of a company bringing blockchain into supply chain management in healthcare. The San Francisco-based startup creates special purpose blockchain-based applications for supply chain and IoT clients. Their server is built to synchronize with Ethereum blockchain protocols, Hyperledger and Quorum. Its applications range from medical devices and pharmaceuticals to tracking of drug packages.
With $4.8 million in venture backing, Chronicled has developed a portable smart sensor capable of tracking and storing temperature readings on a blockchain backe-end to ensure that data is transmitted in a secure way. The firm has also created CryptoSeal, a tamper-proof adhesive sticker which provides cryptographic identities for physical items. For pharma and medical devices, the seal can be scanned and verified by the blockchain registry.
Radiologex is a Health/Medical IT Company based in Irvine, CA, with a diverse, global team of experts hailing from the Medical, IT, Blockchain and Finance worlds. Radiologex is the next-gen, all-one application built specifically for the healthcare industry.
Radiologex furnishes solutions and services for medical device and equipment sale (global Marketplace), medical device and equipment service (P2P/B2B Service-On-Demand), medical imaging (PACS), and clinical information systems (CIS/RIS), as well as entire payment settlement (RDEE Pay) and lending/finance.
Radiologex’s technology has been tested and certified by the ONC of the US Dept. of Human and Health Services (HHS).
With Radiologex blockchain technology, you can communicate, collaborate, transact in a marketplace, trade/share/and access content, access service providers, perform advanced Medical Imaging and Patient Workflow Management, from referrals to scheduling, with a built-in Payment Settlement Network- with Military Grade security, a global reach (borderless), blazing fast, with a state-the-art user-interface.
Coral Health Research and Discovery is a Vancouver-based IT startup that uses the blockchain technology to accelerate the care process in health. The Canadian startup used the tech to automate administrative processes and improve health outcomes. The platform inserts the information of patients into the distributed ledger system, enabling Coral Health to connect doctors, scientists, lab technicians and public health authorities - and in a way that is fast enough to be the quickest in the hood.
The company also implements smart contracts between patients and healthcare professionals. By doing this Coral Health is able to ensure that data variety and treatments are accurate. The real-life impact of these services is looking into the possibility of using blockchain and the Smart on FHIR protocol to allow patients keep track of their own health files.
Based out in Atlanta. Patientory is creating a HIPAA-compliant blockchain powered health information exchange (HIE). The platform is expected to enable EMR interoperability and enhanced cybersecurity protocols. Patientory unveiled in 2015, after which it began putting things in place to roll out a patient app, and it did. PTOY, a digital currency offered by Patientory, gives users access to the platform where they can store and secure their health data.
Based on what’s obtainable from the firm’s whitepaper, the patient becomes the primary intermediary when it comes to sending and receiving health information. This negates the need for consistent updates and troubleshooting of any kind of software. Where the patient is made the intermediary, any healthcare firm that is given access to the information will be able to add new records such as ER visits, and medical images among others. The data will, in turn, be visible to any other institution granted permission to access.
Gem develops blockchain applications tailored for healthcare and the management of drug supply chains. The firm has $10.4 million in total funding and is backed by some of the best investors. They include First Round Capital, Blockchain Capital, KEC Ventures, Tekton Ventures, RRE Ventures, Birchmere Ventures, Drummond Road Capital and Amplify. Based in California, Gem Healthcare Network is developed on the Ethereum blockchain. It will add security through permissioned blockchains, where patients have the ability to control access. On the blockchains, there is a shared ledger system in which every new change is recorded.
Gem was initially out to solve problems associated with health claims management. However, the current system aimed at verifying health claims and reimbursement is time intensive and is widely defenseless against inefficiencies. The company’s flagship platform, known as GemOS, will enable patients, providers and insurers to securely view the health timeline of patients in real time. This goes a long way to improve speed and transparency throughout the claim process. The firm has joined hands with Philips to explore how the blockchain can be used in the integration of data from sources like employee wellness programs and wearable health monitors.
One of the largest providers of enterprise blockchain-based security systems, Guardtime has offices in Amsterdam, California, Estonia, Singapore and the United Kingdom. The firm’s operations cuts across a variety of sectors, intersecting defense, financial services, government, healthcare, and advertising. Rather than implementing Bitcoin or Ethereum protocols, this company has developed a technology that makes use of a Keyless Signature Infrastructure (KSI) to provide large-scale data authentication. With $8 million in total venture backing, Guardtime’s investors include Ambient Sound Investments, Horizons Ventures, Infocomm Investments and FITOne Capital.
On the healthcare front, Guardtime collaborated with the Estionian eHealth Authority to secure more than 1 million patient records. The firm’s relationship with the Estonian government started in 2011 when it was selected to secure public and internal government records. A unique approach to health makes Estonia the ideal place for the deployment of blockchain solutions. Since Estonians already carry unique identity credentials that link their health records, blockchain layer will be able to record and secure every interaction with their data.
Insights from IDC Health show that in 2 years every fifth healthcare organization will probably implement blockchain. Since the distributed ledger technology ensures data integrity privacy and trusts, it makes sense for it to be a tool for healthcare-related operations. Medical data can be processed and stored, drug supply chains can be tracked and medical insurance can be provided. What’s more blockchain can enable these startups collect data from medical devices.