Healthereum Using Blockchain Technology to Vastly Improve the Patient Experience
With Bitcoin now hovering around $8,000, traders have reason to believe that the bull market is back. If the bull market is indeed back, the most prominent coins like Bitcoin, Ethereum, and Ripple will certainly thrive. But what about altcoins? Many once promising altcoins were unable to navigate the difficult climate caused by the crypto winter. Going forward, only projects that have real world use will be able to succeed and transform their respective industries. One company that appears to have developed useful and much needed blockchain-based healthcare applications is Healthereum.
What is Healthereum?
Healthereum LLC is a health-tech startup company founded by doctors and software engineers to address real healthcare needs. Utilizing blockchain technology, the company is currently developing a suite of applications designed to provide solutions through a micro-level approach to patient health.
The healthcare field has come a long way over the past 50 years. Medical treatments are more effective than ever. Physicians are more qualified and better educated than ever before. And thanks to the age of digital transformation, patients are more informed and more pro-active than past generations. But, despite the progress, the patient/doctor experience is still falling short in a few key areas. Those areas include:
- High patient no-show rate for appointments
- Low post-appointment survey completion rate
- Lack of follow-up interaction between physician and patient
In response to these areas of need, Healthereum has developed a mobile interface for patients called the “Healthereum Life Portfolio,” or HELIO.
HELIO to the Rescue?
The Healthereum Life Portfolio, known as HELIO, is the patient interface that presents the suite of Healthereum applications to users. It allows patients to promise to show up for appointments, complete healthcare surveys after a doctor visit, receive task messages from their doctors, and view insurance claims. Potentially the most exciting part of the application is that it is gamified. After completing each task, patients will be rewarded with digital utility tokens (HEALTH). All of this is possible thanks to the inclusion of blockchain technology.
In the future, HELIO should prove instrumental at improving a few of the key issues facing doctors and patients in the current environment. The improvements will be:
- Doctors, who are already swamped with more patients than they can handle, will be better equipped to plan each of their days for maximum efficiency.
- Because of the reward structure, surveys will be completed with a much higher frequency. Patients in search of the right doctor will be able to use these surveys for guidance.
- Patients will be able to view their diagnoses in an ongoing fashion. Additionally, doctors will be able to interact with their patients through HELIO’s messaging functionality.
- Medical billing will be much clearer and more intuitive than ever before.
As mentioned before, the reward process will play a big role in the success of the application. Through HELIO, providers will deliver utility tokens (HEALTH) to their patients who complete the required tasks. In this way, patients are being rewarded for proactively managing their health. Once the tokens are banked, patients will be able to redeem them for healthcare benefits. It’s a win for the patients, for society, and the healthcare industry.
Healthcare Field Set to Grow Exponentially
As with all cryptocurrency projects, it’s extremely important to analyze the industry and determine how large the need is. In this case, HELIO could see a very handsome profit thanks to the expected growth of the healthcare industry. Global spending on health currently surpasses $8 trillion per year. And that figure is expected to increase to more than $18 trillion by 2040.
Healthcare is beset with fraud, inefficiency, and bureaucracy. Applications, such as HELIO, aim to solve these problems and streamline the patient-doctor experience. As additional startups enter the health market aiming to solve other inefficiencies, it’s certainly possible that the industry may soar well past the estimated $18 trillion figure by 2040.
The cryptocurrency market is finally rebounding after more than a year of nothing but pain. The excitement is palpable and it’s only a matter of time before the market finally explodes. Until then, discovering and researching blockchain-based projects with real world usage may prove to be a very financially rewarding endeavor. Healthereum is currently raising funds through an STO that has approximately 35 days left. These funds will be used to further develop the suite of healthcare applications. The company has a ton of potential and thanks to a fast-growing industry, the potential is limitless.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock. Charts via CoinMarketCap.