Filipino company Cool Kids, a collective of consultants and entrepreneurs focused on providing life improvement solutions through the use of emerging technologies, has partnered with a Boston-based blockchain healthcare firm to improve healthcare delivery in the Philippines.
Under the partnership, Cool Kids will tap SimplyVital Health’s HIPAA-compatible protocol Health Nexus, which aims to identify Philippine healthcare opportunities with the highest impact. Cool Kids is interested in utilizing Health Nexus’ open source blockchain platform for its healthcare services.
The company said in a statement:
“With Health Nexus, providers and patients have better and faster access to vital patient data, while being compatible with the security standards set by HIPAA [Health Insurance Portability and Accountability Act]. This can allow for instant updates to patient data around the world, leaving a permanent track record of every treatment and service without using the dreaded fax machine.”
One of the key features of Health Nexus is its Key Pair System, a blockchain-based platform that stores patient medical data and enables healthcare providers to share the information with each other even if they are using unique storage protocols.
In addition, patients have the option to monetize their medical data without providing essential details by utilizing the open-source toolbox to build new healthcare treatments and patient processes.
Cool Kids will assist SimplyVital Health in tackling Philippine regulations on healthcare and blockchain while identifying potentially sustainable pilot areas to underscore the many benefits of the Key Pair System.
Currently, SimplyVital Health has a partnership deal with 16 developers worldwide building dApps for Health Nexus.
Blockchain makes its way into healthcare
At least five US healthcare companies, including MultiPlan and Humana (NYSE:HUM), unveiled a pilot in April to explore the potential of blockchain in various data-related tasks.
Joining the healthcare partnership were UnitedHealthcare, Quest Diagnostics (NYSE:DGX), and UnitedHealth Group’s subsidiary Optum, which look at improving data quality and reducing administrative costs related to healthcare.
Optum senior distinguished engineer Michael Jacobs told Cryptovest:
“Patients may see improved quality in the provider directories, enabling them to seek care more quickly and efficiently. Provider data is an essential part of today’s health system, feeding many activities such as claims and payment processing. Having more accurate data could equate to less time spent on these activities for stakeholders across the system.”
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