Crypto Case Study: Electronic Health Records

Image of electronic health recordsThe Problem

After decades of being paper-based, medical records and information are becoming digitized for faster transfer of data between medical facilities and patients. This digitization process has brought about a slew of problems of information security and continuity. Medical information is some of the most sensitive for any individual and must be secured at all times. This requires networks to transfer information between facilities, providers, and consumers while maintaining data continuity and the creation of permission-based structures to ensure medical information is only viewed by allowed parties. Current electronic health records (EHR) systems have terrible user experience and tend to slow down physicians.

Current Solutions

Electronic medical records are now commonplace in the healthcare industry, from the U.S. Government to large healthcare providers such as Athena and Humana. Currently, many of these systems do not communicate or interact with one another, making it difficult for patients to take information from one network to another. Technology companies such as Microsoft, Amazon, and Google, are all expanding their networks into the electronic medical record industry.

Decentralized Solution

Utilizing the blockchain to store data, in addition to verifiable decentralized identities allows medical information to be viewed and moved between networks easily and safely. Patients enable third-parties such as hospitals and insurance providers to access their medical information. Biometric data, such as fingerprint scanning, social security number, and other information is used to verify their identity.

Crypto Projects

MediChain allows patients to store their electronic health records data securely on the MediChain blockchain. Users can give data access to specialists anywhere, regardless of if they are in the patient’s payer network or currently use electronic medical records.

MedRec operates on the Ethereum blockchain and is designed to handle the complexities of multi-institutional, lifetime medical records. The project, which prioritizes patient agency and creates transparency, is part of the MIT Media Lab and has support from the Robert Wood Johnson Foundation. Recently, the company successfully tested its functionality by tracking medication data via the blockchain in partnership with Beth Israel Deaconess Medical Center.

Medibloc allows individuals to become the medium of healthcare information flow, allowing them a superior healthcare experience. Patients can access data more readily, providers can reduce medical errors, and researchers can solve problems faster with access to relevant data.

Dan is a freelance cryptocurrency and blockchain content writer. He has written content for startups, ICOs, financial planners, venture capital firms, and more. Previously he founded an e-commerce company that grew to $1 million in revenue and profitability in less than 3 years. Dan has a degree in Economics and Finance from Bentley University.