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The German start-up, MedPayRx, is piloting the blockchain in the healthcare sector, with a digital prescription service that issues banknotes, such as medical cannabis, in the form of cryptocurrency.
MedPayRx is piloting a blockchain-based digital prescription service that emits as a medical equivalent of Ripple, which is essentially a cryptocurrency, but also runs an open source platform designed to allow the use of fast and cheap transactions, in this case, prescriptions like medical cannabis. The use of blockchain in the healthcare sector will allow the connection of banks, payment service providers and digital resource exchanges to provide a simple method for sending and receiving money globally in the healthcare sector.
MedPayRx hopes to perform this function in the growing medical cannabis industry and has worked with InsurLab Germany to conduct a pilot scheme in Cologne, Germany, to verify how it will work.
The local government in Cologne is also enthusiastic and the team is contacting insurers, doctors, patients, distributors and producers to create an ecosystem in the city and collect results.
Blockchain in healthcare
Patients who sign up are guided through an interface and a verification system that puts them in contact with doctors, who can then prescribe them with medicinal cannabis. The company said it offers a unique opportunity to access real-time, general market data and individual company, scientific and patient data. It also claims to be able to drastically reduce costs and administration for all those involved.
Marguerite Arnold, Managing Director of MedPayRx, explains: "We are a first of its kind, blockchain-based digital prescription, pre-claim approver and the seed-to-sales sales monitoring platform. 39; as the medical ripple. "
"However, what we also do is create real-time analysis and industry information that does not exist today – it was the first cannatech to make it through an accredited German business school [the Frankfurt School of Finance and Management], the first to be incubated in a governmental and insurance incubator, in Munich this summer, and now we are working with InsurLab Germany to bring it to market here and in other countries. "
MedPayRx, the first of its kind
"We are the first to try this too and it is well planned on several fronts." He added Arnold.
"We aim to solve several problems: the first is to lower the costs of approvals, which mainly fall on patients and doctors outside of the insurers, who are also caught up in a pile of documents. efficient seed to sell, which is also subject to privacy.
"The third, of course, is improving patients' access to an even marginal case, experimental drugs in an environment where health care needs to become more personalized and a moment of real introduction of telemedicine models. We have applied, for example, the competition of the German Ministry of Health Blockchain.
"We are unique in a variety of ways, including how we protect patient privacy and allow patients real and complete control of their medical records while creating an immutable record of prescriptions that can be used for different purposes, including research."
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