What Is MediBit?
MediBit is a globalized healthcare platform for medical data exchange that implements blockchain technology. The data exchange can be between various healthcare stakeholders such as government agencies, medical blockchain, general and veteran hospitals, insurance companies, and pharmacy networks among many others.
MediBit will provide patients with a MediBit Health Card and a mobile application, which enables them to carry their medical data everywhere they go and access the data anytime necessary. Once the patients visit any hospital or clinic, the staff can access their complete medical history as soon as they scan the card or the application.
How MediBit Works
MediBit will team up with fitness centers and set up massage chairs equipped with a health tracker, which collects the patient’s information regarding blood pressure, oxygen saturation, heart rate, and ankle-brachial index. The data collected is then exchanged with health organizations who receive MediBit coins as reward.
MediBit also has a MediBit Information Exchange (MIX), which makes it easy for travelers to access their medical records abroad by reorganizing the records to match the language and health standards of their countries.
Additionally, the platform has a MediBit Token exchange that will enable users easily trade medical tokens in a secure manner without having to create separate wallets for each token. MediBit coins offer access to the platform’s services and provide secure storage of health data. The coins are purchasable during the token sale.
Challenges MediBit Seeks To Address
Strained Healthcare System
The current healthcare system is inefficient, as the system produces billions of yearly waste. MediBit will address this problem and save both the industry and the patients billions of dollars. More about this is explained in the platform’s whitepaper.
Administrative Overhead Costs
Compared to other industries, the healthcare industry has more employees who mainly focus on administrative and office functions, thereby raising the total administrative costs. Through automation provided by the platform, administrative and operation costs are significantly reduced since the need to hire and manage staff is eliminated which in turn results in increased revenue.
The healthcare system currently being implemented involves offering too much medical care services, most of which are unnecessary. MediBit will offer training to medical professionals on the best criteria to follow in order to easily access medical records and identify practice guidelines.
Scattered Medical Records
The various participants in the healthcare industry handle health records differently therefore making the process of transitioning to another platform complex and cumbersome. MediBit utilizes Artificial Intelligence to receive and read medical data from hospitals or clinics. It then stores the information in encrypted servers therefore simplifying the process of sharing medical data.
MediBit Blockchain Healthcare Medical Bitcoin Data Exchange Benefits
MediBit connects users with research institutions, whereby they can participate in researches and receive MediBit coins as rewards. The data is made anonymous to maintain the user’s privacy.
For Healthcare Providers, Researchers, And Insurers
The platform reduces the man-hours needed to collect confirm the authenticity of data. It also improves the accuracy of data.