Focusing on empowering both patients, healthcare providers and payers within the healthcare industry, MintHealth has created a new, global decentralised health platform utilising blockchain technology to further support patients and eradicate the issue of growing siloes with health professionals and the bottlenecks in IT management.
The platform aims to give patients greater control over the management of their health identity and record, secured via blockchain, and engages the ecosystem to drive healthy patient behaviour through digital incentives.
The personal health record and decentralised platform will therefore align all healthcare stakeholders around the shared goal of empowering patients to minimize their risk for developing and suffering complications of chronic conditions.
MintHealth’s mobile app will utilise gamification technology to guarantee patient engagement and digital incentives called vidamints. MintHealth will also release a companion clinical tool for healthcare providers to aid in managing the health of the populations for whom they provide care.
In its first phase, the company aims to roll out the platform to commercial health insurance plans, (or payers), to better support engage patients with chronic conditions, such as heart failure, diabetes, hypertension, all of which account for over 90% of healthcare costs.
Rising healthcare costs within the US in particular continue to creating a severe shift in not only the delivery of healthcare, but the quality of services delivered. Drs. Samir Damani and Vishal Verma are working to tackle this issue on a global scale. Damani and Verma are currently Board Members and Founders of leading technology companies’ MD Revolution and Nucleus Health.
Both companies have continually been focused on enabling better healthcare outcomes through improved data management and personalised healthcare delivery.
"While the idea of promoting wellness to improve health is not new, previous efforts have failed because of siloed clinical and behavioural data, the inability to incentivize patient behaviours, and the lack of a platform that aligns patients, providers, and payers around patient empowerment,” commented Dr Damani.
“Blockchain technology and the use of digital incentives will revolutionise the way we manage patients at risk for and those who have already developed chronic conditions."
Accessible through both web and mobile applications, the platform will align patient and provider incentives to improve health outcomes and promote value-based care (greater quality per unit of cost).
Patients will set up a personal health record (PHR) and be assigned a unique global identifier enabled by blockchain technology. The objective of the record will be to allow the patient to control permissions and access to their data in real time.
"The initial step of digitising health data in electronic health record systems (EHRs) moved us towards value-based care. Now, patients need a self-sovereign, secure record that can seamlessly move between patient and provider data siloes, and in a manner that empowers them to be the CEO of their own health,” explained Tee Green, Executive Chairman of Greenway Health.
“Blockchain technology holds great promise for enabling the data liquidity necessary to execute on our vision of improved population health, and at lower cost.