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Last week I had the honor of kicking off the third annual health conference in Nashville, which brought together health care leaders and blockchain innovators from across the nation. All were united by the shared conviction that the blockchain has a potential for transformation for health and health care, with changes already under way.
Blockchain is more than a technology that has enabled the aforementioned Bitcoin. It is a register of transactions that records the movement of anything of value, currency, documents, contracts, supplies, between the parties. It is unique because it is a distributed ledger, which means that multiple parts may contain copies of the ledger that are continuously synchronized, eliminating inefficiencies in the transaction process. And above all, it is highly secure and in general can not be changed without the agreement of all parts of the ledger. L & # 39; economist the magazine called blockchain "a machine to create trust", allowing "people who do not have a particular trust in one in the other [to] collaborate without having to go through a "neutral central authority".
The Distributed Health event of this year was the third focused on the blockchain and it is clear that the sector has evolved rapidly. "If you think about 2016, it was all about building the community" He said John Bass, CEO of Hashed Health, a blockchain solutions company based in Nashville. "The year 2017 has been a lot of company work, many conversations with big insurance companies, big pharmaceutical companies … about how companies could be involved … Now, in 2018, we saw this change … The change I noticed is that conversations are much more mature, the public is much more mature, the level of thought, practicality … is much more advanced and much more mature than we have seen in the past. "
I was looking for evidence of the real world of an aging industry, and I found it.
"Health care is ready to adopt blockchain [technology] if you can demonstrate a clear ROI, "he said Solve.Care CEO of Pradeep Goel. "This is not a problem when blockchain will start working in the healthcare industry. It's starting to work … Once you've set up the right framework, the use cases will spill over and that's what we're experiencing."
We have seen and heard many examples of projects in the works:
- The Department of Health and Human Services is actively working blockchain acquisition, a process that the department believes will simplify its purchasing power.
- Five health organizations – Humana, MultiPlan, Quest Diagnostics and UnitedHealth Group Optum and UnitedHealthcare – launched a pilot program apply blockchain technology to improve data quality and reduce the administrative costs associated with changes to health care providers' demographics, a critical, complex and difficult issue facing organizations across the health system.
- Change Healthcare and & nbsp;TIBCO Software announced a collaboration to build the first intelligent health care contract system, using the blockchain technology of Change Healthcare's Intelligent Healthcare network and the TIBCO smart contract development project, Project Dovetail. The platform will aim to enable healthcare plans and their financial partners to easily develop and implement processes based on smart contracts that automate events in the life cycle of processing health transactions.
- Hu-manity.co uses IBM & nbsp;Blockchain platformas the core technology for your global consensus book to allow people to claim ownership rights over their personal data. Hu- manity.co will allow people to control and manage the consent, authorization and commercial use of their personal information through an authorized blockchain-based data market that supports millions of users.
- Medblox, a startup in Riverside, Iowa, hopes to decentralize the storage of medical records and give more control to patients using blockchain technology to link, encrypt and protect records, similar to how it is used for cryptocurrencies like Bitcoin.
- ScalaMed, an Australian company, allows patients to receive prescriptions directly from their physician to their cell phones. ScalaMed technology creates a patent-protected method to encrypt an individual's prescribing data. It is then transported to the ScalaMed blockchain e-prescription service through secure APIs, published on the blockchain and made available to the patient immediately via an & r; app.
This list really only scratches the surface. Blockchain is definitely and rapidly moving towards production in real health settings. In fact, it is expected that it will be a $ 2 trillion sector.
But the road is not yet perfectly clear.
"I think the 3-5 year question is impossible to answer when it comes to this", Kristen Johns, a lawyer specializing in transactional patents said during a panel. "If you had asked many of us three years ago what the blockchain was, we would have looked at you as if you were crazy."
But this does not mean that no one is holding onto the road. Technology will change care as we know it: moving the place of care in the community, in the home environment, meeting the patient where he is. I left the event even more enthusiastic about how blockchain and other innovative technologies can do it.
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Last week I had the honor of kicking off the third annual health conference in Nashville, which brought together health care leaders and blockchain innovators from across the nation. All were united by the shared conviction that the blockchain has a potential for transformation for health and health care, with changes already under way.
Blockchain is more than a technology that has enabled the aforementioned Bitcoin. It is a register of transactions that records the movement of anything of value, currency, documents, contracts, supplies, between the parties. It is unique because it is a distributed ledger, which means that multiple parts may contain copies of the ledger that are continuously synchronized, eliminating inefficiencies in the transaction process. And above all, it is highly secure and in general can not be changed without the agreement of all parts of the ledger. L & # 39; economist the magazine called blockchain "a machine to create trust", allowing "people who do not have a particular trust in one in the other [to] collaborate without having to go through a "neutral central authority".
The Distributed Health event of this year was the third focused on the blockchain and it is clear that the sector has evolved rapidly. "If we think of 2016, it was all about community building," said John Bass, CEO of Hashed Health, a blockchain solutions company based in Nashville. "The year 2017 has been a lot of company work, many conversations with big insurance companies, big pharmaceutical companies … about how companies could be involved … Now, in 2018, we saw this change … The change I noticed is that conversations are much more mature, the public is much more mature, the level of thought, practicality … is much more advanced and much more mature than we have seen in the past. "
I was looking for evidence of the real world of an aging industry, and I found it.
"Health care is ready to adopt blockchain [technology] if you can demonstrate a clear ROI, "said the CEO of Solve.Care, Pradeep Goel." This is not a problem when blockchain will start working in the healthcare sector. It's starting to work. … Once the right framework is set up, the use cases will spill over and this is what we are experiencing. "
We have seen and heard many examples of projects in the works:
- The Department of Health and Human Services is actively working on the acquisition of blockchain, a process that the department believes can simplify its purchasing power.
- Five health organizations – Humana, MultiPlan, Quest Diagnostics and the UnitedHealth Group Optum and UnitedHealthcare – have launched a pilot program that applies blockchain technology to improve data quality and reduce administrative costs associated with changes to health care providers' demographics, a critical, complex and difficult problem facing organizations across the health system.
- Change Healthcare and TIBCO Software have announced a partnership to build the first intelligent health care contract system, using Change Healthcare's blockchain Intelligence Healthcare Network technology and TIBCO's smart contract development project, Project Dovetail. The platform will aim to enable healthcare plans and their financial partners to easily develop and implement processes based on smart contracts that automate events in the life cycle of processing health transactions.
- Hu- manity.co uses IBM's Blockchain Platform as a key technology for its global consensus book to enable people to claim ownership rights over their personal data. Hu- manity.co will allow people to control and manage the consent, authorization and commercial use of their personal information through an authorized blockchain-based data market that supports millions of users.
- Medblox, a startup in Riverside, Iowa, hopes to decentralize the storage of medical records and give more control to patients using blockchain technology to link, encrypt and protect records, similar to how it is used for cryptocurrencies such as Bitcoin.
- ScalaMed, an Australian company, allows patients to receive prescriptions directly from their physician to their cell phones. ScalaMed technology creates a patent-protected method to encrypt an individual's prescribing data. It is then transported to the ScalaMed blockchain e-prescription service through secure APIs, published on the blockchain and made available to the patient immediately via an & r; app.
This list really only scratches the surface. Blockchain is definitely and rapidly moving towards production in real health settings. In fact, it is expected that it will be a $ 2 trillion sector.
But the road is not yet perfectly clear.
"I think the 3-5 year question is impossible to answer when it comes to this", Kristen Johns, a lawyer specializing in transactional patents said during a panel. "If you had asked many of us three years ago what the blockchain was, we would have looked at you as if you were crazy."
But this does not mean that no one is holding onto the road. Technology will change care as we know it: moving the place of care in the community, in the home environment, meeting the patient where he is. I left the event even more enthusiastic about how blockchain and other innovative technologies can do it.
