In order to provide the most relevant content to the readers of HealthCare Business News, we're asking you to share a little information about who you are, (it takes two seconds and then you're done).
Register
HemCare Health Services unveils plans to develop innovative global blockchain solution for electronic health records management
Press releases may be edited for formatting or style | October 03, 2017
Health IT
LAS VEGAS, NV--(Marketwired - Oct 3, 2017) - HemCare Health Services Inc. (OTC PINK: HCRE) is pleased to announce its program for the development of a new blockchain based EHR system for the secure storage and sharing of electronic health records. The HHS system plans to solve many of the shortcomings of current EHR systems.
Health records include data on medical history, medical conditions and procedures, allergies, immunization status, medications, laboratory test results, radiology images, personal statistics like age and weight, physicians' observations and billing information.
The market size of the global Electronic Health Records (EHR) market is currently estimated at US$18 billion. Government initiatives mandating or promoting EHR have only increased the demand for electronic systems which is expected to grow at a compound annual growth rate of 6.4%.
Electronic health records provide for the collection and digital storage of patient health information on networked computer databases and the sharing of these records between various health care providers, researchers, pharmacies, payment facilities and lawyers.
EHR offers a number of valuable advantages to healthcare providers and patients, however the systems are not yet ideal. Current systems tend to silo records in disparate, proprietary databases which causes the timely sharing of health records to be problematic. In addition, the privacy and security of electronic health records have been proven to be a concern. Industry analysis estimates that over 100 million patient records have been hacked, in the US alone, since 2015.
HemCare's development team is working to solve the major problems of the health records industry through the introduction of a blockchain solution. Blockchain presents a new paradigm. A universal set of tools based on cryptography to provide immutable assurance of data integrity with programmed "contracts" to control data access. The character of the blockchain as a decentralized immutable ledger provides the potential to standardize information exchange, access control and auditing capability without the need for a central trusted authority.
"We believe the HHS system, based on the Ethereum network and other emerging blockchain technologies, will position the company in the forefront of the EHR industry. Our Whitepaper and proposed initial coin offering (ICO) details will be released shortly," stated John Wilkes, President & CEO of HemCare. Follow our rollout at www.hemcarehealth.com.
