MedChain is determined to use the blockchain to disrupt the healthcare industry with a platform for patient-fueled decentralized applications (dApps) on which to store health records. The platform targets data security and interoperability and is intended to ensure the better health of patients while slashing costs for health providers. It’s designed to empower patients by placing control of medical records in their hands so that where they go, their medical records go, too.
MedChain’s solution removes the need for faxing or emailing medical records from one office to another, thereby eliminating the propensity for mistakes, theft or loss of someone’s health history. The records, which are encrypted for security and stored on the blockchain, move with the patient, and healthcare providers on the MedChain network gain access to a cohesive flow of data with the patient’s permission.
Developers use the platform to create software and applications that are compliant with regulations for the storage of electronic medical records (EMR) and that boast both security and transparency.
Medical providers on the MedChain network upload changes to a patient’s medical records, which creates a hash. The hash coupled with the patient’s private key unlocks the medical records. Access to the medical records remains in the control of the patient. With the patient’s permission and the sharing of a “decrypt key”, healthcare service providers on the MedChain network can gain access to the records.
MedChain’s platform is built on a hyperledger fabric blockchain on which a Distributed Storage Network exists, anchoring to the Ethereum network. Key features include the encryption of a patient’s medical records, which is completed before the data makes its way onto the network. The data can then be retrieved by the individual holding a “private key and data-hash”, all of which is fueled by two-factor authentication and biometrics.
Chief among the features of the smart contract-fueled platform is a patient dApp that individuals can access for free across the web, smartphones including both iOS and Android as well as tablets. It’s where a patient can access medical records, test results, etc., and the patient is the only one who can access the data. The patient has the ability to grant or block access to service providers.
A service provider dApp will be customized to the healthcare provider’s needs. The ecosystem is fueled by MedChain’s Record Tokens, which service providers keep a balance of and use to upload documents.
MedChain also boasts a distributed storage network comprised of computer networks that store electronic medical records. The plan is to integrate these systems with the MedChain platform. Currently this data is stored by “EMR warehouses, hospital and clinics,” and MedChain is giving these entities a way to monetize the process. They use Federated Servers that are tied to the storage and retrieval of data.
MedChain’s platform is both HIPAA and GDPR compliant via smart contracts, hashed records and a patient-controlled private key.
Participants in the healthcare industry across hospitals, physicians, clinics, insurance providers and patients.