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Blockchain to power Philippine healthcare records

A system that is considered to be a first for the Philippines will be rolled out by the MediXServe, a company that innovates healthcare for providers and patients.

A unified blockchain-based electronic medical record (EMR) system will be rolled out to make the medical histories of patients trackable, according to a recent report.

The system will be a centralised database of medical records accessible, only upon the approval of the patient, to anyone and anywhere.

The technology will allow an individual to access their medical records from all the doctors that they have been to as well as to all the hospitals they were confined to since the day they were born.

People will probably say that this technology is already available now. But actually, it is not. The technology present is difficult since one hospital is using a different system while another hospital is also using a different system.

The inter-operability is difficult but with blockchain, it can be fixed.

The Philippine-based health care services company has acquired several existing businesses with existing revenues and branded products such as ShineOS+, Medixhome Care, Lifedata Systems Inc., and MyCareBuddy.

Combined sales of these products have reached US$ 5 million with the price of its software ranging from US$ 50,000 to US$ 1.1 million.

The company takes patient medical history and provides permanent, trackable, and streamlined framework for the storage of that data.

The provision of the data is in a centralised manner, thus becoming more cost effective as it will be a paperless transaction.

Moreover, it becomes faster and more efficient in the network. Accuracy will also be a benefit as the information would most likely aid in decision support ant diagnostic.

In addition, an offline version will be provided by the company for areas where internet connection is limited.

Users will be able to input data even without available internet connection. After inputting, user can save it in a flash drive and then upload it at a later time when internet connection has become available.

The company reassures that the data in the platform will be secured with blockchain. Any attempt to change the data in the system will most likely be detected and rejected immediately as they are stored in chronologically and linearly-connected blocks.

The company mainly targets developing countries, with health care expenditures in these economies seen to rise to US$ 4 trillion by 2020.

In the Philippines, health spending is seen to be growing up to US$ 22.3 billion (PHP 1.2 trillion) by 2022.

The company’s target market includes the Philippines and selected countries like Nigeria, Bangladesh, Sri Lanka and Egypt, and even Europe.

It is a Philippine company that is going for global operations.

The company is raising US$ 20 million from foreign investors to boost its operations. Most of the investors are in Southeast Asia, a lot are based in Singapore mostly in the health and blockchain industry.

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