Reasons to Adopt Healthureum: Figure it Out Here!

Healthureum is a multifunctional and dynamic ecosystem developed to bring Healthcare services on the blockchain to bring great reformation to how we manage our healthcare. The scope of the Healthureum program is dynamic and comprehensive makes it that much exciting and appealing. The first of its kind to derive solutions to such large-scale issues in a single ecosystem.

Evolution is rational, progressive and essential for the enhancement and development of any human, industry, technology or business. So why are we so slow to embrace the technology? In this article, we will discuss the reasons for adopting the Healthureum and Blockchain technology in our healthcare world. So read on and learn!

The Current Status of Healthcare in the World

A recent research examined by Deloitte Global Outlook shows that the worldwide healthcare spending would rise up to $8.7 trillion by 2020, while it was approximately $7 trillion in 2015 and there will be a 10.5 percent increase in just five years. The major factors that significantly add to this spending increment are aging pollution, the rapid development of obesity and diabetes, and increase in the number of people with dementia and HIV AIDS.

It is likewise evaluated that almost USD 4 trillion would be spent on the treatment of cardiovascular, cancer and respiratory illness because of poor food quality, the modern-life decadency, lousy diet, and the polluted air we inhale. The nations which would likely have the ultimate sacrifices are India and China with the highest number of diabetes cases. It is evaluated that it would be around 69 to 100 million cases sooner than later.

Another worrying data is the increase in the number of dementia cases, which could undoubtedly double every twenty years, going up to just about 80 million cases by 2030. According to statistics, the worldwide healthcare spending between 2014 and 2020 shows that it will have a 4% increase in Western Europe, 4.3% increase in North America, 5% increase in Asia and Australia, 2.4% increase in South America, 4.2% in Africa and the Middle East, and 7.5% in transition economies around the world.

The task of funding and giving adequate health care service on a global scale has for some time been a challenge for providers, payers, and stakeholders. So, adopting the Healthureum and Blockchain technology in healthcare shouldn’t even be questioned but rather encouraged.

Benefits of the Technology

Typically, healthcare data is always stored in a centralized system called EHR (Electronic Health Record) system, which is usually customized according to the Healthcare providers’ requirements. This results in a fragmented way to deal with data storage, preventing simplicity of information sharing between systems, also called 'interoperability'. Rather, information ends up in siloes that go about as bottlenecks in the sharing of information, causing dissatisfaction among providers, researchers, regulators, and patients. This absence of standardization and unified storage approach brings about two main flaws, privacy, and security.

Healthureum and Blockchain technology can eradicate these flaws. As blockchain works on a decentralized approach, no single entity is accountable for storing the information, but all participants on the network share the duty of maintaining data security and integrity. Blockchain utilizes a time stamp to validate any change in data, which is flawlessly suited to EHR management, as it will monitor, track and record each edit done by each user allowed to access the data.

This system ensures accountability and transparency at each step of the procedure. This addresses the need for patients and providers to have access to updated records of test results, prescriptions, diagnoses, services rendered, bills outstanding and so on. While being able to check, edit and share information in real time.

Blockchain technology allows for a more organized way to deal with EHR management with organized access and privacy controls. As a result of the intrinsically sensitive nature of patient information, Blockchain is perfectly suited to address various trust issues, for example, patient identification, patient consent, provider-sider user verification, and even the prevention of billing fraud and gross misconduct in claims. IBM (International Business Machines) supports this, referring to blockchain as the "chain of trust", designed for enhancing peer to peer accountability.

Adopting the Technology in Healthcare

Deloitte gives a detailed explanation that blockchain shines when some conditions have been met. They include:

1. Multiple parties generate transactions that change data in a shared repository

2. Parties need to believe that the transactions are valid

3. Intermediaries are known to be inefficient or not believed to be arbiters of truth, and

4. Enhanced security is needed to ensure the integrity of the system.

The Healthureum and blockchain technology can be adopted after all the four conditions have been fully met. more info please visit http://healthureum.io/