The costs of Accessing Healthcare are Expected to be Significantly Lower as soon as Project Healthureum is Fully Adopted. Here's Why

The current cost of accessing Healthcare globally is quite high. This is mainly due to the wide disparity of access to quality medical infrastructure. This is compounded by the difference between the quality of services offered between private and public health institutions. The number of medical practitioners is also lower than the demand for their services which makes their rates to go up.

Factor in the difficulty of accessing patient data across different health institutions or departments which makes the cost of transferring from one medical institution to the next to increase. Project Healthureum, once it’s fully adopted, can significantly cut down the costs of accessing healthcare in the following ways:

Through Promoting Collaboration among Medical Institutions

The current healthcare management system uses a centralized EHR database system where all the data is managed centrally in one location. Permission has to be gotten from this central point in order for other parties to access or share the data. This makes the process of data sharing not only cumbersome but also slow, increasing the overall costs associated with the process.

Project Healthureum, however, proposes to use a decentralized EHR database system through the use of its blockchain technology. The blockchain technology is a decentralized database system that allows data to be stored and shared across a network of computers securely using cryptography. Through the blockchain technology, data can be easily shared across the platform from one medical institution to another. Doctors can quickly trace the medical history of their patients and the patients can access the diagnosis of their doctors in real-time.

Medical institutions also do not have to worry about potential lawsuits arising from data breach as a result of unauthorized access to patients’ records as the blockchain technology is a secure system where once the data is stored in blocks it cannot be altered as this would require a massive overhaul of the data across the entire network which is virtually impossible. By having information that is readily accessible, secure and easily shareable, Project Healthureum can significantly cut down the costs of accessing medical healthcare across medical institutions globally.

Through Enhancing use of Innovative Technology to Access Healthcare Services

The cost of accessing medical healthcare services is high due to the limited resources in terms of medical infrastructure. Project Healthureum seeks to leverage use of innovative technology to bring down this cost and improve access to medical resources. Through the use of its blockchain technology that makes collaboration easy and efficient, Healthureum seeks to bring in technology savvy healthcare methods. These include virtual healthcare services, for example telehealth, online consultations and referrals, immunotherapy, and wearable and implantable patient monitoring devices. Through the use of virtual healthcare services, patients no longer need to cross geographical boundaries to access quality healthcare; they can access it right where they are.

This brings down the cost of travelling associated usually associated with seeking quality healthcare services. The Healthureum platform also allows the data to be streamlined on its platform. Through this standardization, all hospital records will have the same format making online health services to be fast and efficient on the platform as medical institutions would have an easy time sharing and compiling the patients’ data regardless of which part of the world they are in.

Technology-driven healthcare helps to improve healthcare service provision by significantly reducing the costs involved through reduction of resources, infrastructure and other operational needs in the process. The blockchain technology essentially allows patients to take a proactive approach by managing their own health and hence dramatically improving the efficiency of healthcare while reducing the costs involved.

By Lessening Cases and Probability of Fraudulent Activities

Project Healthureum can reduce the cost of accessing health care by significantly lessening the cases of fraud that plague the sector. Research conducted by Deloitte indicates that, in 2015, a staggering 112 million healthcare record data breaches occurred due to IT hacks. Project Healthureum can eradicate these cases using its secure Blockchain system which uses timestamps to record all patient records and all transactions that are carried out on the platform.

Using timestamps, data recorded in the past cannot be changed. This is important especially in cases of billing by insurance companies when patients have been unable to have their claims processed due to missing records or disputed claims. The blockchain technology also has a smart contract feature that automatically executes a contract once the agreed upon terms are met.

This eliminates the need for external intervention in the process which makes the process fast and efficient. With this technology, patients can now have their claims procedure streamlined and have their claim payments quickly eliminating the associated costs that come with delays in payments. The blockchain technology will also get rid of fraud cases along the supply chain, in drug production and in verifying the qualification of medical practitioners saving the healthcare a lot of gains and enabling the benefits to be channeled back to the patients and therefore bringing down the cost of accessing health care.

In Conclusion

Project Healthureum will bring down the cost of accessing healthcare once its fully implemented thanks to its blockchain technology that would enable the shift from resource-intensive processes to technology-driven processes that consume fewer resources and infrastructure.

More information visit https://www.healthureum.io/