The US Department of Health and Human Services estimates that significant breaches of medical data and patient records happen once every 1.75 days. Think about that – over two hundred breaches of medical records in the US alone, and those are only the ones actively known and disclosed.
The costs of these breaches are enormous, for patients and providers. Patients suffer violations of their privacy, identity theft, and threats of blackmail, while providers must handle loss of trust, reputational damage, and fines of up to $50,000.00 per stolen record. Smaller clinics, especially, are especially vulnerable to damage from breaches and hackers. Clearly, with the current state of healthcare, something isn’t working.
The HealthHeart Blockchain Platform
HealthHeart is a blockchain-based platform that seeks to solve the problem of protecting patient data. Developed by experts in the EHR and network security industry, the HealthHeart EHR offers security, stability, and ease of use in a way the major EHR providers can only dream of achieving. In the context of the EHR, the blockchain ledger of transactions represents transactions that have happened in the clinic such as diagnosis, medicine prescriptions, outpatient visits, and other vital medical activities. This information can be securely shared among relevant and authenticated third parties. Access to the shared records uses proven cryptography and requires validation of each and every transaction. This information is protected and hence cannot be shared or modified without prior authentication.
In order to both use the system and transfer records, providers must purchase and use HealthHeart’s token, HHT. HealthHeart’s EHR wraps these tokens in proprietary information and integrates them into the platform; no provider can access records without an ample supply of tokens.
Components of the Platform
For the execution of key components in the smart contracts, there are EHR components which make this possible. While HealthHeart’s software is understandably proprietary, their whitepaper provides the following guidance. There is the Identifier Component (IC) designed to assign each participant to their unique Ethereum address. Restrictions can be made in the IC to limit those who can have access to certain data points. Only relevant parties such as medical providers, practices, and systems can be allowed access. The IC also helps to link the History Component (HC), which will provide the participant’s full history on the blockchain. The HC shows the consumer and provider reviews of transactions that have happened in the past and also shows the third parties that have been granted access to the record.
The other EHR component is the Relationship Component (RC), which provides a platform for the consumer and the medical provider to connect. The connection is made when one node – either the consumer or the service provider – interacts in a way to be able to begin the relationship with the other, almost like a handshake or an exchange of business cards.
HealthHeart will hold a HHT crowdsale for a period of 30 days, starting on the 1st of December 2017 at 12:00 AM CT and ending on the 31st of December 2017 at 11:59 PM CT. A token presale is currently ongoing and offers massive discounts for set contribution amounts. There are a total of 100, 000, 000 HHT tokens, 70% of these will be sold in the combined presale and crowdsale; 1% will be dedicated to bounties and contributor bonuses, and 29% will be reserved for company use. All unsold HHT tokens will be retained in the company. The company is seeking $17.1 million USD in funding and has a soft cap of $50,000.00 USD. The team has advised us of their intention to reward early contributors with airdrops and sign-on bonuses.
The CEO and founder of HealthHeart is Mark Roudnitsky, an experienced software developer and IT professional. Previously, he worked for Epic, the nation’s current premier EHR provider, as a database developer. He also has experience as a systems security consultant. His team is made up of six experts who are either well- experienced in the tech industry or in the medical field. Appealingly, the team has assembled a medical advisory board of seven licensed medical professionals, including five currently practicing physicians. The team has adopted the blockchain technology due to its unique attributes of privacy, security, stability, and accessibility. The solutions they offer will displace the current cohort of EHR companies and will lead to a revolution in the healthcare IT industry.
HealthHeart is the industry leader, well-positioned at the junction of healthcare and blockchain technology. Supporting this team will go a long way towards ensuring that the safety of patient records and protecting healthcare providers from financial and legal harm, and we enthusiastically support this project.
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