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Medical institutions and hospitals cannot share patient data with one another due to issues pertaining to security and privacy. Furthermore, siloed EHR (electronic health record) systems hinder interoperability. Rather than disrupt healthcare by improving patient safety, the data gathered is stored, but not shared.
Millions of Americans either cannot afford or cannot access healthcare. Although there’s plenty of data available to be put to good use, most of it is inaccessible. Health care providers use enclosed information systems, which means medical institutions and hospitals can’t share the data to help someone in need.
In the hopes of streamlining the process to make health care data readily available, billions of dollars have been spent on HIEs (health information exchanges) meant to tackle main EHR concerns related to lack of interoperability. Soon enough, customers realized that they don’t want their personal information stored by middlemen. EHRs lack sustainability and user-experience, are overly expensive, don’t collect all the data required, and the technology used is outdated.
Defined as an interoperable and trusted electronic sharing system of clinical data pertaining to physicians, patients, and healthcare providers, conventional HIEs are centralized systems that lack security. Breaches often have financial and legal consequences that jeopardize proprietary practices and patient care.
Users of medical services are entitled to be in control of their data, and the only pioneering technology that could bridge the gap is blockchain. A decentralized ledger could reinstate interoperability, allowing coordinated patient care, eliminating duplicate paperwork and unnecessary services. With blockchain technology at the core of a next-generation type of health information exchange, the outcome would be reduced transaction costs, better data integrity and trust, and transaction transparency.
Timicoin is a new project powered by blockchain technology whose purpose is to provide an alternative solution to existing centralized HIE systems. The end goal of the platform is to leverage smart contracts to deliver viable patient records in real-time within an optimized environment where a patient’s health data is secured and properly structured.
The Timicoin platform can be used by patients to store, secure and share their personal medical information. The data listed on the blockchain can also be used by healthcare institutions and medical facilities provided they are willing to pay for the data. Developing a decentralized healthcare ecosystem demands several systems and services; therefore at the core of Timicoin lies TimiHealth, a global mobile app that allows users to access their health records remotely. To ensure a transparent, fast, and secure process, TimiHealth will use several blockchain models, including the Hyperledger for data sharing and the DashPay public ledger to complete payments.
The Timicoin utility token is exclusively designed to be used on the platform to process different services requests for providers, patients, and consumer organizations. All users of the TimiHealth ecosystem will be entitled to transact their tokens to enable data permissions, validate smart contracts, and get access to the valuable data made available through the TimiPatient app.
The TimiPatient app targets patients connected to the platform’s entire network. Its aim is to allow users to analyze data sharing statistics, including get full control of their personal information and find out how it is being used or shared based on prior authorizations. Furthermore, the TimiHealth ecosystem will also feature a chat for direct, private communication between healthcare professionals and patients.