Blockchain (in Healthcare)….it it a craze? Dr Michael Costello GM Innovation, Strategy and Gateway Services Twitter: @Costello_M_Dr LinkedIn: www.linkedin.com/in/michaelcostello1 30/07/2018 FOR OFFICIAL USE ONLY
Everybody is Talking About Blockchain
Is Blockchain a Craze? CRAZE ‘…an enthusiasm for a particular activity or object which appears suddenly and achieves widespread popularity….is short - lived …’ Oxford Dictionaries @ Oxford University Press
What drives a Craze? • ‘…as a result of the behaviour being perceived as popular by one's peers or being deemed " cool " by social or other media / outlets …’ • Common Characteristics Simple (but Stretching the One Size Fits all complex) envelope Prescriptive In tune with the Legitimised by Guru’s Zeitgeist Falsely Novel, not Radical Easy to Cut and Encouraging Paste
What drives a Craze? ( con’t ) Consensus 2018: Joe Lubin and Jimmy Song made a bet about the future of blockchain tech The details of the bet -- which the pair shook on -- are still to be worked out, it seems, but Song should probably note that Lubin is worth between $1 billion and $5 billion, according to Forbes.
Competition….. Belt and Road….
Social and International Challenges Issue Challenge Blockchain Opportunity Identity 1.5 Billion people are unable to Prerequisite for financial inclusion and access to prove their identity services Financial Inclusion Unbanked to not have access to Digital Currencies and roll out of mobile money financial services systems would provide widespread access to financial services Lands and Assets Unable to convert land to value People would be able to borrow to improve their Registration as insufficient records exist livelihoods and an immutable record means that ownership is unambiguous Donor Payments Donor payments often use Smart contracts through digital transactions ensure expensive intermediaries to funds reach intended recipients in a transparent combat corruption in order to manner reach their intended recipients Jane Thomason, CEO
Social and International Challenges Issue Challenge Blockchain Opportunity Farmers don’t receive fair deal from Agriculture Improve traceability, transparency and efficiency products and middle men slow supply across supply chain from farmers to markets. chain and increase price. Lack of transparency in provenance. Democracy Lack of trust in government and Improve speed, transparency and cost of electoral electoral processes. processes and communication with citizens. Green Energy Need to move from carbon fuels to Micro grid solar energy trading. green energy. Health Inaccurate records, lack of capacity to Direct health incentive payments (antenatal target the poor. attendance, specific treatment attendance, immunization). Jane Thomason, CEO
Where is Blockchain heading – supply chain, government and healthcare? • Supply chain • Recently in NY the CEO (and founder) of Fed Ex stated ‘… Blockchain has the potential to completely revolutionize what's across the border…’ • It will allow organisations to extend trust into areas they do not control • In the US the FDA passed the Drug Supply Chain Security Act (DSCSA) • Logical outcome….store to bedside…EMR to supply
Where is Blockchain heading – supply chain, government and healthcare? ( con’t ) • Government • Power of blockchain is that it allows a party of multiples not just one…. • Ability by which disparate systems can operate within in a trusted environment • Within government it is not a lack of trust…its competing outcomes which which require the blockchain
Where is Blockchain heading – supply chain, government and healthcare? ( con’t ) • Hyperledger initiative • Interoperability across all sectors • Hyperledger formed the Healthcare Working Group • Public Health Coin • …. to use blockchain in the support of information management during / on the spread of contagious diseases, with the expectation that blockchain will give a powerful method to guarantee the data from a disease outbreak reaches the required individuals so as to control the spread of the infection as fast as possible …..
Opportunities for Blockchain in healthcare Funding – insurers, providers and payers 1. Interoperability – unlocking information in currently siloed EHRs without giving up 2. ownership and privacy Master data management – assuring the provenance and veracity of changes and 3. propagating these to all participants in the network e.g. registrations Online patient access – allowing patients to more easily, effectively and securely 4. gain access to their health records (chain points to an encrypted file off chain) Consent management – tracking consent and delegations of consent e.g. advance 5. care directive 6. Supply chain e.g. for vaccine protecting provenance Research – providing researchers access to patient data based on specific criteria 7. with patients being rewarded Credentialing – assuring the validity of credentials for providers and keeping track of 8. specialties and professional credits Longitudinal healthcare records – securely linking patient records across non- 9. affiliated provider organisations to improve care coordination 13
What is occurring in Healthdirect Australia? • Reviewed ‘is there a problem’ which blockchain could solve? • Recognised that Government would be interested…. but baby steps • Investigating blockchain and involvement in government supply chain (specifically in the funding models)
Is Blockchain (in Healthcare) a Craze? • My verdict….the coin implementations work….the jury is out……
Questions 30/07/2018 FOR OFFICIAL USE ONLY
Recommend
More recommend
