blockchain (in healthcare)….it it a craze? · opportunities for blockchain in healthcare 1....
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Blockchain (in Healthcare)….it it a craze?
Dr Michael Costello
GM Innovation, Strategy and Gateway Services
FOR OFFICIAL USE ONLY30/07/2018
Twitter: @Costello_M_Dr
LinkedIn: www.linkedin.com/in/michaelcostello1
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?
Simple (but
complex)
Stretching the
envelope
One Size Fits all
Prescriptive In tune with the
Zeitgeist
Legitimised by
Guru’s
Falsely
Encouraging
Novel, not Radical Easy to Cut and
Paste
• ‘…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
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
Jane Thomason, CEO
Issue Challenge Blockchain Opportunity
Identity 1.5 Billion people are unable to
prove their identity
Prerequisite for financial inclusion and access to
services
Financial Inclusion Unbanked to not have access to
financial services
Digital Currencies and roll out of mobile money
systems would provide widespread access to
financial services
Lands and Assets
Registration
Unable to convert land to value
as insufficient records exist
People would be able to borrow to improve their
livelihoods and an immutable record means that
ownership is unambiguous
Donor Payments Donor payments often use
expensive intermediaries to
combat corruption in order to
reach their intended recipients
Smart contracts through digital transactions ensure
funds reach intended recipients in a transparent
manner
Social and International Challenges
Jane Thomason, CEO
Issue Challenge Blockchain Opportunity
Agriculture Farmers don’t receive fair deal from
products and middle men slow supply
chain and increase price. Lack of
transparency in provenance.
Improve traceability, transparency and efficiency
across supply chain from farmers to markets.
Democracy Lack of trust in government and
electoral processes.
Improve speed, transparency and cost of electoral
processes and communication with citizens.
Green Energy Need to move from carbon fuels to
green energy.
Micro grid solar energy trading.
Health Inaccurate records, lack of capacity to
target the poor.
Direct health incentive payments (antenatal
attendance, specific treatment attendance,
immunization).
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
1. Funding – insurers, providers and payers2. Interoperability – unlocking information in currently siloed EHRs without giving up
ownership and privacy3. Master data management – assuring the provenance and veracity of changes and
propagating these to all participants in the network e.g. registrations4. Online patient access – allowing patients to more easily, effectively and securely
gain access to their health records (chain points to an encrypted file off chain)5. Consent management – tracking consent and delegations of consent e.g. advance
care directive6. Supply chain e.g. for vaccine protecting provenance 7. Research – providing researchers access to patient data based on specific criteria
with patients being rewarded8. Credentialing – assuring the validity of credentials for providers and keeping track of
specialties and professional credits9. Longitudinal healthcare records – securely linking patient records across non-
affiliated provider organisations to improve care coordination
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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