Issues with EHR
Today, healthcare providers manage inefficiencies by trying to manually reconcile medical data among numerous clinics, hospitals, labs, pharmacies, and insurance companies. This does not work because the single record of your health data and where and how it was added or amended does not exist. Further, despite improvements to data standards, each electronic health record (EHR) is stored differently, so it is not obvious who recorded what and when.
The Health Wizz mobile platform leverages blockchain technology to provide consumers with the tools they need to aggregate, manage and share their medical data with stakeholders, including research organizations and pharmaceutical companies, all while ensuring data integrity and protecting patient’s privacy.
“Dubbed the most innovative technology since the Internet, blockchain eliminates the middleman between the patient and his or her medical health records. We’ve developed a platform based on blockchain, data management and mobile technologies that shifts the locus of control from medical institutions back to the patient, enabling people to take control of their own data”, said Sirish Bajpai, chief technology officer of Health Wizz. in a statement “Health Wizz doesn’t store health records on the blockchain. It stores a signature of the record on a blockchain and provides secure access to the patient, who is ultimately in control of when, where, how and who can access that record. This digital signature also assures the integrity of the record,” Bajpai said.
How Does It Work: Managing Your Health Records With Digital Tokens
The use of blockchain in health information data flow allows the use of cryptocurrency to incentivize contribution of individual health data for research, analytics and precision medicine. Parties desiring to acquire health data from users will now have the ability to pay patients for their data using cryptocurrency.
On public blockchains supporting smart contracts, like Ethereum, Ether-based tokens are fueling the health data marketplace. The concept of “tokens” as special purpose cryptocurrencies, with their own rules of minting, mining, rewarding and inflation control, is well established and supported by the Ethereum ecosystem.
OmCoin, a digital token issued by Health Wizz, is the ideal token for incentivizing data exchange contracts between users, data providers and data seekers, including pharmaceutical companies, insurance companies, medical providers and research organizations. OmCoin is custom Ethereum token that will serve as digital access keys, providing users with a secure and efficient way to manage and exchange their healthcare data via blockchain.
How To Participate in The Ecosystem: Digital Token Sale
To support the further development of the platform and the virtual health data marketplace, Health Wizz today announces the pre-sale of its digital token, OmCoin. The pre-sale will run November 30, 2017 until February 2018.