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How Blockchain Is Helping To Eradicate Misdiagnosis In Healthcare?

April 4, 2019

Health is a great asset that most people own since birth and try to store as long as possible, so it’s no wonder that the healthcare industry plays a great role in the society. That is why people all over the world spend a decent amount of money on medicine.

In healthcare, it is vital to keep personal records to provide appropriate treatment. A connection between a patient and a doctor is important, too.

“The problem here is that… No matter where you are living, whomever doctor you consulted, whatever diagnosis he made, you don’t have an option to have a second opinion on this diagnosis outside a certain medical system,” says Kashif Rizvi, vice-president of operations and business development at the Medibitcoin company.

He went on, saying that doctors working in the national healthcare system have to follow certain protocols in the communication with patients and treatment, putting the United Kingdom where he lives as an example.

But the quality of healthcare and skills of specialists differ from country to country. So, MediBitcoin team decided to create a platform, where a user can choose a doctor from around the globe according to his issue and consult with him remotely.

“Obviously, that consultant will work independently… He will be giving very fair advice to a patient,” believes Rizvi.

Big Price For the Wrong Entry

According to his vision, the data is, in fact, the “biggest problem” of the medical industry. Frequently, records are filled inaccurately, so some health databases may be tampered or even lost. It leads to the mistakes in the treatment and enhances health risks for a patient.

Sad statistics proves that point. Only in the United States, medical errors were the third-leading cause of death, according to the 2018 Johns Hopkins research, with 250 thousand deaths from that cause annually. Another study published in 2014 showed that in the U.S., about 12 million adults are misdiagnosed each year.

Things are no better in Great Britain. As the Medibitcoin team notes in its blog, 75% of the UK population go online for health information, while more than 50% of the UK population use the internet to self-diagnose.

An Opportunity to Avoid Mistakes

Blockchain features like data protection and immutability allow avoiding any mistakes in medical records. Thus, this technology may become a solution for the “data issue” in the healthcare industry, underlined Medibitcoin representative. This is the main reason why it was decided to develop the project as the blockchain platform.

All personal medical records of this platform are stored on the blockchain, which ensures that data is not removed or tampered. Moreover, it is possible for the blockchain-based system such as Medibitcoin to become a universal and reliable tool of interaction between a patient and his consultant.

In the healthcare system, a question arises of what side can keep the patient data. And it is not always accessible by a customer, despite the fact that it is his personal data. A transparent nature of the blockchain will address that issue as well, bringing the authority of sharing medical record back to a patient.

“I don’t know, if the blockchain may increase the patients’ lifespan, but I do certainly believe that for the patients in need the blockchain-based service will make a big difference”, concluded Medibitcoin VP.


This story is sponsed by NewConomy.

About Crypterium

Crypterium is one of the most promising fintech companies, according to KPMG and H2Ventures. We are building a mobile app that meets the banking needs of the digital assets era.

Our goal is clear: with Crypterium, whatever you can do with traditional money you will able to do with digital assets. This idea is supported, among others, by the co-founder of TechCrunch Keith Teare and over 400,000 registered users, and the number is growing by day.

The team is led by former General Manager of Visa Central & Eastern Europe Steven Parker, and C-level executives from global financial institutions, like Renaissance Insurance, London Derivatives Exchange, American Express etc.

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