First Vitals Healthcare Provider and Timicoin Blockchain Platform Partner
First Vitals Inc. Partners with Blockchain Health Platform Timicoin
Not many people are aware that their health information is a commodity that is collected and sold via third party companies. This is done around the world and it is a multi-billion-dollar industry. Blockchain has offered a viable solution to this problem by introducing Timicoin.
Timicoin/Timihealth, is a platform that brings together a crypto token and the blockchain. It is pioneering the tokenization of health information through a decentralized blockchain ecosystem. With Timicoin, all patient records are stored on the blockchain. Patient records can be accessed securely and in real-time by authorized parties. Timicoin aims to make health-care data more accessible and transparent.
First Vitals’ CEO, Ernie Lee, had the following to say about the partnership:
“The requirements of today’s value-driven healthcare system forced us to look for an infrastructure that could provide the on-demand, real-time access to data that only the utility function of blockchain can provide.”
“After extensively vetting several blockchain technologies, we engaged with Timicoin as we found their vision most closely aligned with ours, making them the choice to partner for our patients. Ultimately our mutual desire to place the patient firmly at the center of care and empower individuals through incentives made this an easy decision.”
Will Lowe, founder of Timicoin, commented:
“We are very excited to explore all of the many use cases that will emerge as a result of our partnership with First Vitals. It will provide the opportunity to address the high need, chronically ill population that especially requires a comprehensive medical record for efficient care management.”
How data is gathered and shared
Data is gathered from the patient's smart healthcare devices with the patient's permission for study and monitoring. The clinical trial reports and test results are combined with the patient monitoring data AND Providers add them to the TimiEMR system for the Hospital records. When a consumer requests the data the patient’s records are mined with TimiHealth's state of art Query Engine.
The records are shared on a private Blockchain channel created between the provider nodes and the consumer node via a smart contract.