Blockchain has serious potential in healthcare, as it can be deployed to offer physicians better access to patient data, enabling them to deliver the best possible care to patients in a timely and efficient manner.
Healthcare platform Solve.Care recently announced the launch of the Global Telehealth Exchange (GTHE), blockchain-powered service that taps the Ethereum network’s security, transparency, and distribution to best deliver healthcare services.
The GTHE decentralized care network eliminates the geographical and physical obstacles that hinder patients from gaining access to healthcare services. The platform also offers administrative, payment, and care coordination for physicians.
In May. 28, 2020, podcast interview Solve.Care CEO Pradeep Goel described the GTHE decentralized network as a ground-breaking utilization of blockchain tech and digital currency that solves many of the issues that the global healthcare system faces.
Goel added that since GTHE is powered by blockchain tech, users can rest assured about the safety and privacy of their medical records.
Furthermore, blockchain’s immutability ensures that all records and transactions, once stored on the distributed ledger, can never be tampered in the future.
GTHE will be accessible to patients via the Care.Wallet, Solve.Care’s personalized healthcare management system, with plans to roll out the care network commercially in selected markets as from the 2nd half of this year.
Meanwhile, the sign-up date for physicians will be officially open starting from Jun.19, 2020.
What Blockchain Use Cases Mean for Healthcare
Embracing blockchain has never been more vital in the healthcare sector, with administrative costs currently accounting for about 30% of annual healthcare spending.
The culprit is an outdated third-party administration and payment model that is replete with inefficient processes, data system silos, and a duplication of efforts.
The allure of blockchain tech is that it can automate out-of-date claims and payment systems that are expensive and resource-intensive. This certainly will redefine the healthcare system by bringing in more cost-effective patient care and superior provider satisfaction.
Moreover, since the tech allows patients to connect with one or more doctors and remotely permit them to access their medical history, time is saved as the need for unnecessary tests is eliminated.
Apart from Solve.Care, other healthcare programs integrating blockchain tech in their systems. A good example is PlayPal, a blockchain-powered platform that gives users an advanced health profile and preventative health analyses by tracking their physical and cognitive data from various third-party integrations.
The platform collects and consolidates Internet of Things (IoT) health data from across apps and devices via the use of artificial intelligence (AI) and machine learning to offer individualized recommendations for the user’s better health.
Blockchain Can Transform Access to Healthcare Post Covid-19
The onset of Covid-19 has drastically transformed the way we access healthcare, and now more than ever, people are hesitant to contact their doctors.
With the introduction of technologies such as GTHE, anyone attempting healthcare will be able to easily consult a medical practitioner anywhere in the globe via their computer or other personal devices.
Solve.Care CEO, Pradeep Goel, firmly believes in the potential of blockchain tech to disrupt the healthcare sector positively. He commented:
“It is clear that we are moving towards a decentralized healthcare system, and Covid-19 has accelerated that process dramatically. The need for greater patient empowerment has never been more pronounced, and access to quality healthcare should not be restricted by geography, systemic inefficiencies, and administrative bureaucracy.”