- February 2, 2020
- Posted by: admin
- Category: Blog
Pretty much every developed country, including Canada, is trying to embrace the latest technologies. In this pursuit, if we move (or at least start moving) the entire Canadian Medical Sector to the blockchain, the benefits would be unimaginable.
The Problems with Existing System
Well, the issues are quite a lot, so let’s just explore them categorically for a better understanding.
Since traditional systems run on a centralized architecture, it is impossible for patients to have control of the data. For instance, once you have submitted your health profile to an institution, you are basically ‘locked out’ as you cannot make any changes when required. The only person with unlimited access to your data is the system administrator.
Moreover, every hospital or clinic maintains a separate database that is accessible to the respective institute only. Thus, making data sharing quite a painful task.
This data fragmentation is not only undesirable in today’s world where people value interoperability, but the patient could suffer from a life-threatening situation if data exchange is not efficient.
Time Delays and Lack of Transparency
Unfortunately, a lot of patients have to wait several months before getting the initial diagnosis. In most cases, it deteriorates the health, and in some cases, it may cause death even before the first diagnosis.
Furthermore, it is also seen that some clinics and hospitals are not quite transparent when it comes to admitting the patients.
Hacks and Frauds
Whenever you hear the term ‘centralized’ with any digital entity, just keep in mind that such a system is prone to hacks. Same is the problem with existing EMRs, EHRs and PHRs. Since patient records are kept on a centralized database, anybody with basic hacking knowledge can bring wrath.
What’s even worse is that some people can execute prescription frauds and can also do significant damage by rolling out counterfeit drugs in the market.
How Does Medical Veda Offer a Solution in This Regard?
Well, our ecosystem comes with a wealth of platforms running on some of the most futuristic and robust technologies in the industry, including blockchain, AI, ML, Big Data and many more.
However, in this section, we will focus on blockchain and all of its pros availed by Medical Veda.
A Distributed Data Structure
To put simply, it means that patients can retain the ultimate authority of the data and therefore, clinics, doctors, hospitals or any entity related to the healthcare niche cannot sell out this information.
Moreover, since Medical Veda is rolling out a decentralized structure, everyone will be on the same platform. Hence, the interoperability between different organizations will increase.
No middlemen, no delays
Since there are no middlemen in our system, you do not have to wait to get the initial analysis done. At the forefront, we have AI-based bots as well that can diagnose your illness before you even visit a doctor.
Moreover, at the time of any ‘agreement’ or ‘undertaking’ between the patient and hospital/clinic, we ensure that a smart contract is executed which keeps the digital agreement in its unaltered state. Thus, guaranteeing that no one can forge the document later on.
Our solution is decentralized and it means that there is no single point of failure. In other words, it also implies that Medical Veda is ‘unhackable’.
Apart from that, it is also worth noticing that since blockchain serves as an immutable ledger, it can keep the entire record of a drug from the time it is manufactured until the current stage. As a result, patients can always check the provenance.