The blockchain industry used to have every type of blockchain technologies except the one that focusses on the healthcare sector. However, things changed when a US-based company decided to create Patientory. Patientory is a blockchain solution for healthcare. The Patientory company aim of building Patientory was to ensure a secure transfer and cyber security of patient’s information from one healthcare provider to another. Patientory provides data transmission via smart contracts and blockchain.
How does Patientory work?
Patientory (PTOY) works differently from other application or platforms in the blockchain industry. Through a mobile app, users of the Patientory platform can create individual profiles. They can store their medical information that is compliant with the Health Insurance Portability and Accountability Act (HIPAA) on a blockchain platform. Through Patientory, users can connect with other patients with similar medical issues and healthcare providers. This way users have a higher degree of control over their life and their personal medical healthcare information. Also, Patientory improves data integrity, decentralization, transaction costs and disintermediation of trust. All these benefits are achieved using the Patientory system.
The HIPAA has regulations that healthcare provider’s needs to comply with, to abide by the regulations, health care provider must ensure both the security and privacy of patient’s data. As data on public blockchain like bitcoin and Ethereum in immutably stored and can never be removed, regulators see this block chains not suitable for the sensitive information. Therefore, Patientory use private implementation of an Ethereum-based blockchain to ensure data security.
Using smart contracts and blockchain, Patientory aim to simplify or automate claims processing. Cost information is hosted by the system that allows for billing and payments between individuals and institutions in the form of token-based debt. Users can pre-authorize their data to access them in the case of emergency. If there is an emergency and the person is unresponsive or can’t make decisions, a health care institution can use the individual’s phone or secondary signature to access their medical data from Patientory.
Patientory video explanation
Patientory has a Patientory token known as the PTOY. The token is available for users and is offered to participants. After some time of using the PTOY token, participants will qualify for a bonus of up to 20%. Patientory participates crowdsale that is usually conducted via the Ethereum smart contract. The use of Patientory and the PTOY token is to enable trust. With the blockchain technology improving, it is relevant that the healthcare sector is presented by Patientory.