In the past, healthcare was one of the sectors that was slow to adopt new technology. However, like many other sectors, healthcare is about to undergo a period of rapid transformation after the increase of coronavirus.
Launched in 2015 by the Founder and CEO Chrissa McFarlane, Patientory is a blockchain-based, HIPAA-compliant software platform that gathers and analyzes healthcare data to empower people with actionable data-driven insights for improved health outcomes and well-being.
The purpose of Patientory is to securely facilitate and encrypt the transmission of health data while empowering healthcare professionals and patients in storing healthcare data and the ability to monetize that secure data.
Unlike other data, medical data can tell a bad actor a lot about a person because of its highly sensitive nature.
Not only that, but it’s also one of the most lagging sectors in cybersecurity. Without a doubt, health data is very valuable and sensitive information of an individual can be stolen and used on the dark web in many ways.
All of these challenges can be addressed, and Patientory has some new ideas that can help!
What Is Patientory?
The COVID-19 pandemic accelerated the use of digital technologies. Healthcare providers and patients have found new and innovative, socially-distanced ways to deliver and receive services by adopting and shifting toward better technologies like blockchain technology, AI, and machine learning to provide better care.
In the flow of these changes, Patientory is one of the most innovative healthcare projects that have been introduced in the past.
The Founder and CEO of Patientory has been also recognized as one of the top women in the health IT field. In addition to being a Digital Health influencer for HIMSS, an ambassador for the Metro Atlanta Chamber of Commerce, and an advisor to several MedTech companies, she is also an author with her first book published in 2019.
As one of the first companies to adopt blockchain technology in the healthcare industry, its products are built on the PTOYMatrix network, a HIPAA-compliant blockchain-enabled Health Information Exchange & Storage network, administered by the Patientory Association, which stores and exchanges health data in a secure and encrypted way.
The Patientory Association is a global nonprofit healthcare member organization that supports emerging technologies in the healthcare industry and connects users of the PTOYMatrix network, which securely stores and manages health information in real-time. Also, such storage and management are facilitated by a blockchain-based token.
As a result, Patientory empowers patients, medical professionals, and healthcare organizations to securely access, store, and exchange health information in real-time with the highest levels of security.
Each patient will be evaluated based on their current health condition and their lifestyle to generate their health score which is improved over time as the patient follows the recommended care plan. Patientory recruits for clinical trials, therefore, the platform’s solutions can be used for clinical trial management.
To date, Patientory has gained 45,000+ subscribers and strategic partnerships. Furthermore, it can integrate into the major EHR systems, including Epic, Cerner, Allscripts, Meditech, and Athenahealth.
What Patientory Offers
The blockchain healthcare platform has two main solutions. As such, there’s a platform for enterprises and the rest is an app for consumers.
As said, both products take advantage of the blockchain network to grant individuals with their health data and enterprises a secure platform for risk as well as predictive modeling for population health management.
The Patientory Mobile App
This is a mobile, blockchain-powered, decentralized application in which patients and users are able to access their health information conveniently and securely.
Health data, like patients’ hospital records, lab results, a wearable device, and genomic data, among other personal health data across multiple care teams and facilities, is complied in the mobile dApp, so that there will be a unified and comprehensive wellness profile of the patient’s entire history is created in Patientory.
You can download the app from Android or IOS stores and easily integrate the Patientory app with popular mobile apps and wearables to showcase their vitals in a uniform dashboard.
Neith – Enterprise Software Tool
On the other hand, Neith is a disease-agnostic, HIPAA-compliant, big data analytics platform providing health management solutions for enterprise customers.
The platform is able to integrate seamlessly with the consumer-facing mobile dApp Patientory in order to help integrate lifestyle data into care plans, streamline value-based care initiatives, and provide risk-mitigating analytics for enterprises and their patients.
Tokenomics
Patientory uses blockchain and the ability to securely monetize this information. $PTOY is a native cryptocurrency in the PTOYMatrix network.
The PTOYMatrix, Patientory’s own private blockchain network ensures patient healthcare data is cryptographically protected. The network will remain stored in a secure and decentralized manner with storage access managed by $PTOY traded on exchanges.
Storing data in the PTOYMatrix network can improve data integrity and reduce transactional and operational costs. This also helps to remove third party intermediaries in managing healthcare data.
As such, users can purchase or exchange the native token on the PTOY website or onon popular cryptocurrency exchanges such as Bittrex, SwapZone, or CoinSwitch.
The key features of $PTOY are as follows:
- IN-APP PURCHASES: You can use the token to participate in token use cases or buy additional storage on applications that use the PTOYMatrix.
- DAPP DEVELOPERS: Allowing developers to seamlessly integrate other their existing healthcare technology software or build solutions as DApps on the PTOYMatrix system.
- STORAGE NODE HOSTS: By joining as a participant on the PTOYMatrix blockchain network, users can also earn $PTOY for unused storage space.
- SMART CONTRACTS: Allowing the Execution of Smart Contracts for the healthcare ecosystem.
What Makes Patientory Outstanding
Patientory is a pioneer in the adoption of blockchain technology in healthcare in the midst that the existing healthcare system is being pushed towards more digitization and technology.
As said, Patientory is one of three HIPAA-compliant platforms adopting blockchain, big data, and machine intelligence to enable enterprises to understand consumer health data.
It is the only company to offer on-chain healthcare population analytics, on top of a specific healthcare blockchain, and has been able to achieve this with a fraction of the funding received by its competitors.
Also, the platform’s increased interoperability improves care coordination while ensuring data security, minimizing health breaches with an 85% decrease in hospital readmissions and penalties and yielding a 42% decrease in IT expenditures.
In addition, emerging AI tools such as ChatGPT could likely add tremendous value to the medical field, but absorbing all of that sensitive information without violating HIPAA on the output side can’t be done casually.
Meanwhile, Patientory’s design also contains AI services to provide better insight as well as for a secure database ready to pair with advanced tools like ChatGPT.
New Ideas for Healthcare
After all, with a growing demand for healthcare population health management solutions that incorporate cybersecurity, Patientory takes advantage of Blockchain and AI technology for accurate patient treatment to create a safer way for patients and providers to share data in the future.
Patientory is empowering users globally with actionable insights into their health and medical data through its secure decentralized blockchain network. Therefore, Patientory is a necessary solution for both patients and providers to improve health outcomes.
There is no doubt, your health is your wealth!