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[patientoryblog]

Patientory - Transforming Healthcare

According to a BIS Research report, the global healthcare market is expected to have grown at an annual compound rate of 64% by 2025. It is also projected to hit a 5.6 billion USD valuation by then. The report observed that blockchain could play a crucial role in overcoming the challenges and failures inherent in legacy systems. Blockchain application in health information interactions is anticipated to be a major driver towards achieving this market capital. 

Blockchain technology has massive potential to resolve the recurring issues present in the current healthcare IT systems. The issues are primarily associated with non-standardization and interoperability lapses that have produced information silos within the industry. The BIS report name-dropped major pace-setters in the new phase of healthcare, and one of them was Patientory. 

Below, we examine what Patientory is and why it stands out as the optimal solution for healthcare facilities, especially clinics and pharmacies.  

Patientory: A Brief Overview

Patientory enables healthcare institutions, enterprises, patients, and clinicians to transfer and access sensitive health data securely. It also assists in presenting actionable insights to enhance health results. Patientory uses blockchain technology through the PTOYMatrix blockchain network to assure end-to-end encryption, which complies with administrative guidelines and agreement terms.

Tokenization

The Patientory’s token PTOY allows healthcare app users and providers to rent data storage space on the PTOYMatrix and execute health-specific smart contract exchanges. Additionally, it facilitates compensation through a commission model designed to reward high-quality care. 

Patientory will reward early adopters with PTOY, the native token of the Patientory network. The Patientory network is a protected, locked loop dispersed ledger system uniting all the stakeholders in the healthcare ecosystem. It flawlessly transfers health information within a highly secure, blockchain-powered system. 

A Useful App

Patientory offers a free-to-use app to its users. The app seamlessly connects to your wearable devices and mobile apps to observe vital statistics on activity and health. It is designed to present and help you monitor your general health status on its dashboard.

Why is Patientory the Best Solution?

Patientory was created to solve the recurrent problems of the present healthcare ecosystem. It was also designed to accommodate the shifting trends in healthcare management. So, what makes it the best solution for clinics and pharmacies?

Better Reviews

Many health specialists believe that patients with access to their information are usually more involved during appointments. It also makes them more inclined to be proactive with their health. 

With Patientory, patients can share their entire medical history with their doctors through aggregated information from many medical facilities and healthcare providers, all in one place. 

Enhanced Management

For doctors, blockchain introduces them to personnel management systems that expedite their daily duties seamlessly. Doctors can maintain their schedule, place electronic requests, and transfer or receive referrals online efficiently with Patientory. These automation devices and suggestions will help doctors and patients save time.

Securely Share Data

Patientory uses blockchain technology to provide a secure space for health information storage and transaction. Patientory combines blockchain technology with complicated APIs to make electronic health record interoperability and information storage swift, effortless, and reliable. 

Patients can also safely share data with their doctors, nurses, family members, specialists, and caregivers or talk through Patientory’s reliable messaging platform.

Conclusion 

The healthcare system is rife with growth opportunities that will only increase as the years advance. However, this potential will go unrealized when people are discouraged from visiting healthcare facilities because of redundant procedures. That is why Patientory looks to solve the perennial problems of the system while also maintaining flexibility to accommodate future growth within the industry.

Your Health, at your fingertips.

Visit Now Patientory.com.

[patientoryblog]

Improving Productivity in the Current Healthcare System through Blockchain Technology

Blockchain has the potential to make the healthcare system more efficient. According to BIS Research, it could save up to 100 billion USD in yearly costs by 2025. This metric considers health data violations, personnel, support functions, operation, and IT costs. 

Let us look at how blockchain improves medical service.

Medical Record Management

Electronic medical records provide a convenient service to expedite online access compared to conventional paper medical archives. These records contain sensitive data that is shared among medical professionals and clinicians when needed. They keep the patient’s medical history saved in an electronic form. The problem with EMR systems is that they are prone to cyberattacks. In addition to that, data could be lost due to backup errors and malfunction. In the event of data loss, thousands of work hours are lost.  

Integrating blockchain technology secures health records and stores them in a decentralized, reliable, and tamper-proof manner. It eliminates the need for double work and reduces the number of administrative tasks.  

Telemedicine

The utilization of remote healthcare services has risen exponentially during the Covid19 pandemic. Hospitals opted to implement telemedicine as a new approach to serve outpatients.  

Telemedicine reduces the workload on medical staff and relieves the limited medical resource from additional strain. In addition, it offers cost-effective and impartial access to medical care for patients. 

Remote healthcare services like Telehealth face insurance fraud challenges and identity theft problems. The PTOYMatrix network blockchain eliminates any chance of fraud or manipulation. The identity of each health provider, insurer, and patient is registered on the PTOYMatrix network. The exchange of health information is secure, transparent, and tamper-proof. 

Remote Medical Care

Robotic remote surgeries and ingestible sensors are medical care methods that involve sending and receiving large volumes of medical data. Another example is smart devices in gathering patients’ data and uploading health information to a centralized server. The communication between IoT, IoMT devices, and centralized servers occurs at significant risk of security breaches. 

The PTOYMatrix network eliminates data breaches and interruption of communication due to hackers and unscrupulous characters with questionable motives. The data is securely transferred utilizing the cryptography characteristics of the PTOYMatrix network blockchain. 

Medical Service Management

PTOYMartrix network provides large-scale interoperability between patients and healthcare providers. The network supports secure data transfer, medical care tracking, identity verification, and data exchange authentication.  

Moreover, the network can track a doctor’s intervention to mitigate medical conflicts. This data also helps medical organizations and patients to choose doctors with experience relevant to their needs.

Data on the efficacy of physician licenses and certificates are updated in a permanent decentralized database. At the same time, patient information is exclusively collected and accessed anonymously by authorized physicians.

Community Structure

The community is a support group of healthcare workers and volunteers that provide comfort and emotional support. The privacy of the PTOYMatrix network blockchain offers a space for healthcare communities. Patients receive advice and guidance from registered and certified medical professionals.

Conclusion 

The future offers great potential for the application of blockchain in the healthcare system. With more developments, it is primed to afford more productivity to healthcare workers and stakeholders.

Your Health, at your fingertips.

Visit Now Patientory.com.

[patientoryblog]

Patientory - A Revolutionary Health dApp Solution that Helps You Save Money

Patientory Inc. is developing decentralized apps (dApps) that integrates with the world’s largest healthcare blockchain system.  . It is accelerating a revolution in the healthcare system and gives users freedom with their health data. Can you imagine the benefits for industry players when patient data can be securely exchanged among healthcare facilities? 

With secure storage and instantaneous patient data sharing across healthcare facilities, the Patientory network (PTOYMatrix network) facilitates holistic patient care. The processes also require fewer intermediaries and physical infrastructure, making them more efficient and cost-effective.

PTOYMatrix network blockchain omits intermediaries and lowers transaction costs

Blockchain technology creates a distributed ledger of transactions and exchange of information without a central point of failure. Thus, the blockchain network is shared across many nodes that interact directly without intermediaries. As a result, you do not incur an additional cost of central control by an authority.

The current Electronic Health Record (EHR) systems are controlled by individual hospitals and incur substantial overhead costs. The trustless, transparent, and immutable nature of blockchain transactions helps detect and prevent fraud in the healthcare system quickly. 

Patientory leverages the benefits of blockchain technology, allowing patients, healthcare providers, and healthcare facilities to interact directly without a central authority. Consequently, it does not cost as much. 

Blockchain processes and synchronizes data. PTOYMatrix network blockchain retrieves your health records, allows you to communicate with the community, and shares records with a care provider instantaneously. Real-time processing reduces transaction costs.

Patientory has a merit-based compensation system

You can use the Patientory mobile app to store and access your medical data at no cost. However, charges apply when you need more than the 10MB limit. Patientory issues PTOY utility tokens and runs on a closed payment loop. Users can buy storage space for health data and access healthcare services on the app in exchange for PTOY tokens. The value of the PTOY tokens is dependent on demand. PTOY is linked to the Ethereum cryptocurrency. 

Miscommunication of patient data can jeopardize patient health. In fact, it is a statistically significant reason for hospital readmissions. Patientory reduces costs associated with such errors by allowing convenient data sharing. It also rewards healthcare providers when they coordinate and work together on the app.

Care providers with the highest contribution towards the shared savings on the PTOYMatrix network blockchain receive merit-based compensation. In addition, Patientory allows patients to give PTOY tokens to care providers who excel in providing quality health care. The app also levies penalties on providers who fail to meet proper patient care standards. 

Conclusion

The vision of Patientory’s CEO, Chrissa McFarlane, is the accessibility of quality and affordable healthcare throughout the world. Patientory is changing the future of the healthcare sector using the power of blockchain technology. It permits efficient patient data sharing and coordination between different stakeholders in the healthcare system.

Patientory’s underlying technology and model of care saves billions of dollars in the healthcare industry. The app provides quality care, along with cost-effective care, by attaching the payment system with a quality metric.

Your Health, at your fingertips.

Visit Now Patientory.com.

[patientoryblog]

Why PTOY is Colossal to the Blockchain and Healthcare Ecosystem

Patientory token (PTOY) is a digital cryptocurrency that powers and secures the PTOYMatrix network blockchain and permits health information exchange. The PTOYMatrix network blockchain promotes data integrity and lessens transactional and operational expenses. This system reduces the conflict of third‑party go-betweens in maintaining healthcare information. Together, the PTOYMatrix blockchain network and PTOY token constitutes the Patientory software platform, which goes by the same name as the Dapp. 

PTOY is the instrument for maintaining the PTOYMatrix network infrastructure. The primary usage of the token is to monitor network storage allocation, healthcare quality standards, and revenue payment periods.

PTOY - The numbers

The maximum supply of PTOY is 100,020,000 tokens. The current circulating supply is 84,237,014 tokens. The price per token as of 15th July 2021 is $0.01670217. There are 4,060 PTOY tokens holders, including DEXs and centralized exchanges. The circulating market cap is $1,407,070, and the fully diluted market cap is $1,670,403.    

PTOY and PTOYMatrix

PTOYMatrix blockchain network facilitates health information exchange and provides a data storage system in compliance with the Health Insurance Portability and Accountability Act (HIPAA). The network PTOY token grants every entity access to the PTOYMatrix network blockchain. In addition, the tokens facilitate data exchange among network users and enforce security.   

PTOY as payment 

Users get an allotted amount of space to save data for free on the PTOYMatrix blockchain network. PTOY allows them to buy additional storage space from nodes established in hospital systems. Users can buy PTOY tokens from cryptocurrency exchanges.

Healthcare enterprises utilize PTOY in this instance as well. They can also use them to make payments once smart contracts are accomplished with healthcare insurance organizations and coordinate value-based model metrics.

PTOY as compensation

The United States is looking to migrate from the fee-for-service model to the present value-based model. For this to happen, there has to be healthcare IT support that helps organizations to connect the quality, worth, and efficiency of medical interventions through a reputable compensation model.

Compensation will be based on the efficiency of the provider system and how it delivers improvement in health, wellness and care results while simultaneously diminishing correlated care costs. A merit-based compensation of distributed savings helps incentivize participants in the system to build more reliable care administrations proactively.

The system is also designed to proportionately reward the care providers that contribute the most to developing the system in PTOY tokens. The PTOYMatrix blockchain network ensures precise participation tracking using smart contracts on the blockchain system.

PTOY beyond compensation

Another consequence of the new healthcare standard is the compensation model wherein the providers can obtain extra compensation beyond the care provided. This compensation is the cumulation of the costs saved in providing care for the patient.

As part of the shared savings feature of the new healthcare standard, any expenses cut through efficient patient care and administration are rerouted back to the care providers and their partners.

Moving forward with PTOY

In return for PTOY tokens, users will be allowed to use the system to hire health data storage space and perform health-specific smart contract transactions and payments.

The platform strongly believes that utilizing a token is the most suitable payment method to sustain this foundation for the foreseeable future. The future is a vibrant environment of many tokens, through which healthcare will put a closed-loop payment network in place.

The outcome will be an effective and positive feedback loop with essential reductions in billions of dollars currently assigned to healthcare payment scams.

Your Health, at your fingertips.

Visit Now Patientory.com.

[patientoryblog]

Patientory Blockchain Privacy, How is it Achieved?

An interoperability deficiency across health record management has always caused unnecessary expenses and time inefficiency in traditional health information record systems. Healthcare workers have found themselves in an undesirable position where they spend more time computing patient information instead of doing their job - patient care. 

This inefficiency, coupled with shrinking health care budgets globally, has resulted in smaller core healthcare staff and supporting cast. This recession has further translated to more work for healthcare workers across the board. As a result, burnout among healthcare workers between 2011 and 2014 shot up from 45% to 54%. 

The Patientory Blockchain which encompasses the PTOYMatrix network is the answer to limitations currently facing electronic health record systems. These limitations include lack of security, the threat of malware and compromise, interoperability across different third-party systems, a complicated user interface, and poor user experience. 

This article will focus on health record management security and privacy and how the Patientory Blockchain has positioned itself as a pioneer in maintaining high-level privacy for patient information. 

What is Patientory? 

Patientory is a decentralized network  for maintaining health records and facilitating health information exchange. The network unlocks the potential of cybersecurity and interoperability across healthcare providers in the storage, management, and deployment of health records. Patientory integrates blockchain and cryptography and has the following advantages: data integrity, trustlessness, efficiency, decentralization, and reduced transaction costs and achieve HIPAA compliance. 

How the Patientory Blockchain Achieves Privacy of Health Records?

The Privacy Rule

Your health information should be personal and private, and no one should have access to them without your authorization. Unfortunately, traditional electronic health record systems do not guarantee this level of privacy or security. Patientory defines its privacy standards as the Privacy Rule and outlines them according to HIPAA standards. Actions like health plans, health providers transmitting health records, and healthcare clearinghouses must submit to the Privacy Rule. Every stakeholder must adhere to the Privacy Rule. Anything that falls short of these standards violates the HIPAA privacy rule (Health Insurance Portability and Accountability). 

The Blockchain

Patientory employs blockchain technology to deploy a highly secure health records transfer system. Traditional electronic record transmission methods rely on cloud storage to perform its services. Relying on cloud storage providers (CSPs) to store and manage health information removes direct control of this information from the hands of healthcare providers into the hands of a centralized CSP. 

Sometimes CSPs have their servers deployed to different geographical locations, making healthcare providers unaware of where the information is located, who has access to it, and what they could do with it. Besides, the healthcare provider is completely dependent on the CSP to deploy other privileges within the health record management system.

Other risks associated with cloud storage of patient information include a high frequency of data replication, increasing chances of data breaches from the multiple points of data management, which usually includes network engineers, admins, and technical experts.

The role of the blockchain as the foundation technology is capturing health records and storing them in a distributed and secure manner. Employing the blockchain assures zero data breaches and allows healthcare providers to achieve ultimate decentralization in storing, controlling, and ownership of health patient information. Simply put, it is a cryptographic transaction on the blockchain that is encrypted by the sender and decrypted for interpretation by the recipient. 

In Patientory, the information is encrypted with a complex cryptography code decrypted using private keys accessed only by healthcare providers. 

Conclusion

The Patientory team has built a platform based on extensive research of the challenges facing healthcare providers and consumers. 

Patientory chose blockchain technology as the impregnable solution to improve the storage, transfer, and access to patient information. In addition, Patientory dApp which uses the same name as the network integrates artificial intelligence algorithms, machine learning, and the internet of things to deliver a state-of-the-art health record system.

Your Health, at your fingertips.

Visit NowPatientory.com.

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