Blockchain healthcare company Patientory has been busy since Bitcoin Magazine first covered the scheme inwards May.
The company, which is putting electronic medical records (EMRs) on an Ethereum-based blockchain for ameliorate security, has obtained funding together with partnerships to assist promote its concept. By the fourth dimension it launches its company solution, the fellowship wants to hand medical practitioners healthcare at their fingertips — together with slow concern human relationship short town for patients together with healthcare payers alike.
Patientory released its payment token, “PTOY,” on May 31. The three-day token sale raised $7.2 meg from over 1,700 purchasers. The fellowship is using the funding to launch its smart contract-based platform for EMR storage together with patient payment processing.
“The healthcare scheme is fragmented,” explained Chrissa McFarlane, CEO of Patientory. As McFarlane pointed out, Patientory “really brings together the manufacture every bit a collective toward reducing costs together with improving non exclusively the U.S.A. healthcare infrastructure but the global healthcare ecosystem.”
Since its crowdsale, the fellowship has focused on integrating amongst other networks to assist construct a decentralized ecosystem for healthcare participants. One of the most meaning developments for Patientory came inwards belatedly August when it announced its partnership amongst the Linux Foundation’s Hyperledger initiative.
Hyperledger follows the Linux Foundation’s model of edifice reference platforms for commonly-used technologies. What it did for Linux, it hopes to arrive at for the blockchain. Just every bit in that place are multiple Linux distributions, the projection volition spawn a menage unit of measurement of blockchain frameworks using code from a unmarried reference platform, making it easier for the frameworks to interoperate amongst each other.
A key constituent of a smart contract-based platform is an oracle, an agent that derives information from a third-party information source; which Patientory volition construct to communicate amongst Hyperledger’s code.
But Hyperledger won’t live on the group’s exclusively such partnership.
“The futurity of the blockchain is that in that place volition live on multiple chains out there,” explained McFarlane. She expects to construct oracles for those, too.
One of Patientory’s key goals is to integrate disparate processes inwards the healthcare scheme to arrive at end-to-end visibility.
“If we’re going to utilisation the blockchain to actually live on the foundational layer for that interoperability, together with then the chains accept to interact amongst each other together with furnish the same functionality,” McFarlane said.
The fellowship is paying similar attending to payments integration. Blockchain-based digital cash network Dash has partnered amongst blockchain spider web services company BlockCypher to offering a grant plan for organizations integrating their services. Patientory announced its participation inwards that plan inwards August.
“Dash is purely digital cash, thence we’re able to spearhead together with accelerate the usage of digital currency for transactions inwards the wellness industry,” said McFarlane.
With this integration initiative, Patientory is focusing on healthcare payers. They tin utilisation the network for claims processing, finding patients securely together with processing their claims transactions. Patients volition also live on able to utilisation the scheme for settling payments.
Using the blockchain for payments betwixt providers volition travail efficiencies into a traditionally complex together with bureaucratic system.
Patientory “decreases their transaction fees together with overhead from an administrative level,” said McFarlane.
Patientory has been busy edifice relationships inwards other ways, too. McFarlane instantly chairs a blockchain working group; together with July saw the fellowship win an “innovation mention” inwards the #Patient2Consumer challenge organized past times start-up network 1776 together with the MedStar Institute for Innovation. Patientory is also active on the conference circuit together with is involved inwards the Distributed: Health conference currently taking house inwards Nashville.
On the technical side, Patientory established its genesis block inwards July together with launched its Alpha testnet.
Perhaps the biggest chore facing the fellowship now, though, is educating the market: It hopes to arrive at thence through the Patientory Foundation, the scheme that orchestrated the crowdsale.
“A constituent of that at the Foundation degree is to host events,” McFarlane said. “We promote the concept together with providing an avenue for people to inquire questions together with larn close the procedure together with how everything plant inwards this space.”
The fellowship is hoping to launch its company solution together with beta the 1.0 version of it past times the destination of this year. Its focus instantly is on proving its concept, scaling the platform together with fostering adoption. The kickoff one-half of 2017 may accept been busy, but for Patientory, much is nevertheless to come.
Read Article Full Patientory’s Journey to Change Healthcare : http://ift.tt/2jWomOy