DigitalForest Blog

Top 5 blockchain healthcare projects. Part 2

Examples of medical blockchain projects
Kristina Novikova
Research Analyst at DigitalForest
February 25, 2019
Every day the healthcare industry produces a large amount of new data: medical records, laboratory test results, invoices, clinical trial reports, and many others.

The safe storage of this data can be achieved by implementing blockchain technology, which can provide a reliable basis for the productive work of the entire healthcare system by eliminating the risks of data loss or violation.

In the second part of our article, we will talk about the most promising blockchain companies in the healthcare industry.
Read the first part of the overview of top 5 blockchain projects in healthcare
Examples of blockchain projects in healthcare
Chronicled. MediLedger project
According to Verified Market, Chronicled is one of the most promising companies building blockchain solutions for healthcare.

The company is developing a MediLedger Network project that delivers pharmaceutical supply chain solutions to meet the requirements of U.S. drug-tracking legislation.

At MediLedger, every transaction in the drug supply chain is verified using blockchain, as well as the origin of each product. The system uses the zk-SNARKS zero-knowledge encryption protocol to protect transaction confidentiality. This approach does not require the exchange of information between the party that is trying to confirm the transaction and the party that provides proof of verification, which, as a result, increases the level of confidentiality in the system.

Chronicled develops the system alongside such known companies as Genentech, Pfizer and Gilead Sciences.
MediLedger demo
Learn how to apply blockchain solutons to healthcare
Patientory
Patientory is a distributed application based on blockchain technology that provides users with access to data about their health status. The application integrates siloed centralized medical accounting systems into a single platform. Patientory also works with smart contracts that provide a continuous cycle of medical and patient care.

Patientory combines data from such EMR (electronic medical records) systems, such as Epic, Cerner, Allscripts, Meditech and others.

Using the mobile application, a patient creates an individual profile that gives him access to all his medical data stored on a blockchain platform that meets HIPAA requirements.

In the application, users can directly contact service providers, as well as discuss health problems, symptoms or other issues with other users. This allows patients to have their health under control even outside the hospital.

The application is provided for free, users pay only for the amount of information stored.
Patientory mobile application
Hashed Health
Hashed Health was founded in 2016 and develops healthcare projects using blockchain technology.

At the moment the company works on 3 projects: Professional Credentials Exchange, Bramble and Signal Stream and we will tell more about each one of them.
Professional Credentials Exchange
ProCredEx is a new business model for identifying doctors and other specialists in the medical field as well as a great example of how a distributed ledger can solve trust issues. ProCredEx is a platform for exchanging identification data as it serves as a source of trusted and verified information.

ProCredEx is an exchange that provides users with access to verified information about the credentials of medical professionals. ProCredEx participants can determine what data and verification rules will be applied to employees (doctors, nurses, etc.) when they are identified in the system.

By implementing ProCredEx in hospitals and other medical facilities users are able to:

  • Speed up the specialist onboarding cycle
  • Reduce administrative workflow
  • Ensure timely update of the practitioner data
  • Simplify credential collection and verification
  • Eliminate redundant work and improve data accuracy
Bramble
The Bramble platform is a marketplace for buying and selling medical services. The solution gives users access to the offers of various innovative medical services created directly by providers. The service offerings include details, costs and conditions for consumers or medical staff.

Benefits of Bramble:

  • It's a base for new high value services markets
  • Consumers will be able to buy services based on cost, quality and provider reputation
  • It can be integrated with plan benefit design
Bramble demo
Signal stream
Signal stream is a distributed platform for automating multi-party business processes. The platform allows to collect data from various systems, create reports, and serves as a source of reliable information that supports the work of healthcare institutions.

Automatic tracking of complex interactions between parties is designed to ensure the effectiveness and transparency of business relations in the healthcare sector and allows for the introduction of innovations in the workflow.

The platform allows you to:

  • Reduce complex administrative workflows
  • Track contract execution in real time
  • And etc
Signal stream demo
Using blockchain in healthcare, with no doubt, will increase a level of trust between parties. In its study, Bisresearch predicts that blockchain systems will allow the healthcare industry to save about $ 100 billion by 2025 by reducing the costs derived from data, supporting IT infrastructure support, fraud, insurance fraud, and more. Thus, in the next few years, we can expect an even more active implementation of blockchain solutions in medicine.

Sources

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