How Medical Infrastructure can be improved by Healthureum.
Medical Infrastructure is a major part of the cost structure of delivering healthcare. It causes healthcare costs to balloon out of control and impacts consumers negatively. Also, due to the high capital cost of medical infrastructure, it acts as a major barrier to expanding medical services. Many times, a wealthy donor is needed to foot the bill for a new medical equipment or building because the health service provider simply does not have enough capital on hand. Many health care services also rely on government subsidies as a result of them not be very solvent. These are issues that Healthureum is running on the blockchain intends to solve in the long run.
The Power of the Blockchain
The blockchain is a network of computer nodes that automatically record and simultaneously verify every single transaction that takes place. The network encrypts the transaction data and only allows the individuals with the authorized access to be able to see the data. The blockchain is a decentralized platform which means that once it starts running, it will not require a centralized system that will easily be hacked or has the potential of being corrupted. Therefore, it will provide security necessary to run medical data
What That Means
According to the Healthureum White Paper (2017) pg 25., their blockchain called Healthureum will be able to " record and assess every action related to a piece of medical infrastructure, with regards to the cost versus the usage” The idea is that it will allow easier scheduling of maintenance, coordination of repairs and acquisition of items. Usually health care institutions have to allocate an estimated amount of money to go towards the upkeep of a facility, however, with a blockchain, you would be able to schedule more exactly how much should be spent as there would be exact automatic records of every action taken by staff.
What Healthureum will do.
Firstly, Healthureum is a cryptographic token that runs on the Ethereumblockchain network. It follows the ERC-20 standards and is able to provide all the benefits above. It allows you to take more detailed records of any form of transaction or exchange of service that takes place.
The transactions that it will support are transactions between institution and patients as well as transactions between facility personnel. Every time something is done that requires clearance it will be recorded as a transaction or as an exchange of value between an employee or between the institution and its employees. In particular, when an employee carries out a task once it is completed an accurate record of the event will be recorded and once recorded it cannot be altered. In addition to that, the data is also encrypted meaning that anyone without unauthorized access will be able to see private information.
Healthureum whitepaper also outlines several other key benefits that it intends to provide to the healthcare institution.
· Firstly, it more easily allows the institution to be able to determine Return on Investment more accurately. Determining ROI is considered fairly difficult in healthcare institutions due to the inadequate record keeping. The result is that some philanthropists may be perturbed about donating as they may not be able to see where their funds would go and whether or not it's going where it's most useful.
· Monitoring Demand and Usage. This is a second thing it would provide institutions to do because it would keep an exact record of what jobs are done when as well as how much times a service is required.
· Keeping track of Maintenance and Upgradations. Seeing when maintenance needs to be done and when something needs to be done will go a long way in adequate monitoring an institution's resources.
· Analyzing Supply chain and it Reliability. Easy of monitoring the supply chain would make quantitative analysis far easier.
Token Purpose and Use
When a patient uses a particular service and pays with tokens, it will record very crucial information through smart contracts. This information will be recorded in its system in a chronological order and can be analyzed by anyone with the right authority. The platform would immediately be able to allow the institution to process: ROI; Demand and Usage; when maintenance needs to be provided; and how good a particular service was.
Also, because the Tokens possess a real exchangeable value they will incentivize their adoption as the value will raise the better the service becomes. Therefor Healthcare providers will want to adopt it as it will rise in value over its duration and patients will adopt it because of the number of services that it provides. It is a win for everyone involved.
http://healthureum.io/blockchain.php
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