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Blockchain Healthcare Technology

Integrating blockchain and healthcare through patient portals

Blockchain and healthcare can improve patient wellbeing and overall satisfaction. In my last article, I highlighted a few impediments and solutions to improve patient care satisfaction in the United Arab Emirates. At a macro level, key issues included:

  • Fragmentation of care
  • Interaction with multiple disconnected stakeholders (providers, payers)
  • Fragmentation of medical records
  • An inefficient and incomplete flow of information
  • Approval and scheduling delays

This piece will look beyond fixing the gaps and discuss how leveraging blockchain network technology to engage patients in their own care can radically transform the patient experience.

Every health system grapples with some issues. For example, social healthcare systems might be more cohesive and face less of an ordeal with fragmented care and health records, but they often struggle with process delays and high costs. We need to build implementable healthcare solutions for our existing and unique medical landscape.

Blockchain in healthcare gives more power to patients

We need solutions that put the patient at the centre of various medical processes. Blockchain in healthcare allows this. Patients today are well-informed and want to be part of their treatment decisions. They are more agile with following up on delays and providing health information to payers as required. We need to enable them to manage their journeys and give them online access to their healthcare data to feel connected with their care team.

Blockchain-enabled patient portals can allow for interconnectedness between patients and an array of healthcare stakeholders. While many hospitals and clinics have rolled out patient portals the lack of integration with other players diminishes the value of the tool. Healthcare providers can streamline patient care and can accurately share it as required.

Once again let’s take a walk along the patient journey to briefly see how patient portals could significantly improve patient care and satisfaction in the UAE.

Using blockchain in healthcare – the trigger

Patients begin their journey once they experience symptoms. Instead of engaging in an online search or discussions with friends and family, patients can log in to their portal and undergo a preliminary assessment online. Patients can receive accurate medical guidance, and online access to their health data and understand the seriousness of their symptoms. Electronic triage is a great way to reduce delays in patient presentation and misinformation.

After triage, the patient can use the portal to select the appropriate healthcare professionals — general or specialist as per the guidance provided. Initial consultations and prescriptions can also be provided through video chats once telemedicine providers are integrated into the system.

Most importantly, patient portals integrated with payers thanks to entrusted data exchange possibilities can ensure patients that select care providers are accepted by their policy. This will remove the need for the eligibility check which currently often happens onsite on the day of the patient appointment.

Finally, the portal based on a blockchain system can also assist the patient with recording and managing their healthcare information such as symptoms during the lead-up to their appointment.

Electronic health records – the investigation

Patients arrive at their physician appointment well-informed to have an educated conversation with the physician. The portal based on the blockchain can also allow patients to track their symptoms and note down history along with any other medical information that they’re able to share with the care team. The patient’s medical record can seamlessly capture this information.

Most patients will be requested to undergo diagnostic investigations. Once again, patients are able to select a centre based on their insurance eligibility. Portals can also match patients with diagnostic centres with specific capabilities according to their preferences. For example, the portal can direct a patient who is uncomfortable with confined spaces, toward a diagnostic centre with an open MRI machine. The portal can also provide the patient with preparation for their tests — if and for how long prior they need to fast or if they are undergoing an MRI/CT with contrast, how long will they have to wait before the test, etc.

Patients can receive the investigation results and reports on their portal and grant access to their care team. The care team can review and communicate the appropriate course of action through the portal itself saving precious time in critical cases. For example, if the patient initially visited a general physician and based on the reports, now needs to see a specialist or a surgeon, the primary care doctor can instantly communicate this via the portal itself.

Blockchain solutions in a healthcare organization – the waiting

Patients nervously wait for the diagnosis and treatment plan, after which they nervously wait for insurance approval for their treatment plan. During these periods of waiting, patients often return to online searches and think of many questions. Having the support of their care team can be more calming and informative. Patient portals enabled direct messaging capabilities that can allow for high-level conversations and a feeling of connectedness.

Patient portals will be undoubtedly helpful for a quicker and more efficient insurance approvals process. There are often delays due to incomplete information from physicians, missing investigation reports, and medical coding errors, which when updated on the portal, the patient can raise an alert with their provider and sometimes even correct immediately. Patients can even appeal for denied claims through the portal with the support of their care team and external experts. Patient and provider support teams for insurance-related processes are an interesting market opportunity. Such expert teams if integrated with the portal system can assist in pre-empting denials and informing patients of possible out-of-pocket payments down the line.

Blockchain applications in healthcare – the treatment

Whether inpatient care or pharmaceutical treatment, patient portals can play a critical role in improving the patient experience during this phase. The portal can be integrated with approved medical websites and legitimate sources of information that the patient can access prior to or during treatment. This can not only reduce misinformation but also any self-adjustments to treatment the patient might make.

Patient portals can also integrate with pharmacies to inform the patient about stock availability. Patients can also alert the pharmacy before arrival to reduce delays and ensure they have all the relevant documentation.

Patients can also be notified about alternative treatments according to relevance and affordability. If the patient decides to undergo care abroad, the patient portal can serve as a key channel of communication between international and local care teams.

Patients can also be informed about ongoing clinical trials they might be eligible for. This is not only beneficial for patients but the field of medical research. Lastly, patients can connect with other patients with similar conditions in their community and gain access to other relevant patient support groups and forums.

Applying blockchain solutions to healthcare – the recovery

Post-treatment or the recovery phase is just as critical as the treatment phase — the patient must follow the prescribed regimen. The portals can prompt the patients to ensure adherence to medications, physiotherapy, or follow-up appointments.

Portals can also help track critical symptoms and abnormal changes in vitals. The care team can set these parameters for the patient and can be automatically notified if anything needs attention. Portals can be integrated with wearables to record these metrics as well.

Patients often feel a large disconnect from their care team after their treatment is complete. Patients can stay connected with their care teams through direct messaging or video calls as needed. They can also stay in touch with other patients in treatment or in recovery through forums and support groups.

Blockchain solutions for healthcare – conclusion

Patient engagement is not just helpful for patients but also for the various stakeholders of the health system. Patients who are active participants in their own health care have fewer unplanned readmissions, medical errors, and delays in care. These patients also report having higher confidence in the healthcare system.

In 2019, the Health Intelligence Network administered a Patient Engagement Survey. A total of 56 healthcare companies across the United States responded with encouraging data. 80% of the respondents attributed the improvement in care quality to patient engagement tools. There was a 69% increase in adherence to medication and treatment plans. 22% of the respondents saw a decrease in overall healthcare spending. Some of the effective patient engagement tools and processes included:

  • “Intrinsic coaching.”
  • “Electronic scheduling system linked to a client record.”
  • “Clinical review, patient/caregiver education, clinician’s visits.”
  • “Artificial intelligence to match interventions.”

A truly integrated blockchain and healthcare patient engagement system present numerous advantages beyond reducing fragmentation. For the UAE, it can be a crucial step toward building a stronger public health program. Population health alerts and patient education can be delivered through these portals. People can receive information about a specific disease awareness month or screening camps.

Patient engagement becomes particularly important as global health systems transition from an acute care model to a continuous care model. In such a case, every person effectively becomes a patient. It is not feasible for systems and providers to take care of everyone, we need to empower people to take care of themselves.

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Blockchain Finance Financial Services Software

How to introduce cryptocurrency payments in an online payment gateway

Cryptocurrency payments have become a popular topic in the past few years largely due to the rise of Bitcoin. In 2017, bitcoin reached its all-time high of about $20,000. Unsurprisingly, this invited the attention of investors from across the world. Statista reports that there are nearly 34 million active crypto-wallet users worldwide as of the third quarter of 2019. 

Because of increased awareness and use of digital currencies, many product and service providers are looking to tap into this small, but tech-savvy market. Fees on crypto payments are also often considerably lower than traditional payments processors. Here’s how to offer your customers crypto payments. 

Cryptocurrency payments

Cryptocurrency is a digital form of currency, a medium of the electronic exchange, which uses cryptography to carry safe transactions. First introduced in 2009, the technology runs on blockchain technology that acts as an auditing and clearing tool. In short, this prevents double spending and removes the need for centralized payment processors to verify funds and record transactions. Crypto payments offer immutability and transparency. 

Privacy-minded consumers are especially drawn to cryptocurrency so if you’re trying to entice this consumer segment, consider implementing cryptocurrency payments.

Most popular cryptos

Where the starting point of the cryptocurrency was bitcoin, there are several others to choose as well. Here is the list of most popular cryptocurrencies by market capitalization. Supporting one or more of these will give consumers more choice in how to pay.

  1. Bitcoin
  2. Ethereum (Ether)
  3. Ripple (XRP)
  4. Bitcoin Cash (BCH)
  5. EOS
  6. Cardano (ADA)
  7. Litecoin (LTC)
  8. Stellar (XLM)
  9. IOTA
  10. NEO

Why “big” payment processors don’t support crypto payments 

Big processors do not accept cryptocurrency payments because they charge high fees for carrying transactions. On one level, this makes sense because companies such as Visa have to maintain an enormous auditing apparatus and it costs money to it. On the other hand, they’ve also built monopolies that cater to big business. As a result, small and medium-sized businesses bear the brunt of fees.

KYC procedures for merchants that want to accept crypto

A strict KYC procedure needs to be followed to accept cryptocurrency payments. Often referred to as a complicated process, it requires the essential records and personal details of the merchants. 

Step 1: 

The initial step involves the verification of the mobile number of the applicant. For a bitcoin exchange, you will receive a code on the registered number in the applicant’s name. You will receive a code on the same number, which will be required to complete the identity verification process.

Step 2:

The second step involves providing personal details. A copy of all the personal details needs to be submitted. It depends upon the type of platform being used to carry the transactions, according to which documents for identity verification are asked. Some of the personal documents required include driver’s license, scan of an ID, recent utility bill, birth certificate, or maybe a passport. It does not require any bank mediators as the traditional payment methods do. 

The requirement of documents varies depending upon the kind of transactions or according to the amount you are planning to trade. 

If you think the process requires a lot of hustle, then you can also rope in third parties to do the task for you. Nowadays, various third parties and financial institutions provide the services of a mediator that can help get the merchants to get KYC, hassle-free. 

Processing cryptocurrency payments through the payment gateway

The crypto payment gateways give the merchants the facility to make and accept payments in bitcoins. There are multiple processors currently available in the market available that allow bitcoin transactions. 

With the blockchain platforms, you can immediately receive and make payment and convert it into fiat money in no time. It simply makes the whole process super convenient and swift.

Coinbase

For the best bitcoin global exchange experience, Coinbase is the most trusted name. It boasts of being the largest bitcoin exchange in the U.S.A. Coinbase has a massive user base as it offers some fantastic features to its users. One trusted name for instant cryptocurrency conversion into fiat money. It completes the bitcoin exchange requirement for big and small businesses alike and takes only 2-3 days to clear the transactions. The exchange is free and prompts 1% transaction fees only after the initial $1 million transactions have been carried out. 

Coingate

The best thing about the user-friendly application is that it supports near around 40 cryptocurrencies. With the single application, merchants can single-handedly at a point of time make payments using different currencies and methods. Coingate charges a nominal 1% fee on transactions, which is quite reasonable. 

BitPay

Its presence in the market since 2011 makes it one trusted name in the Bitcoin world. Based out of the U.S., it facilitates accepting bitcoin as payment. The two-factor authentication provided by the app makes it a secure and trusted source to carry transactions. You can make daily transactions worth $1,000 and annual transactions worth $10,000, beyond which it levies 1% transaction fees. The app supports numerous currencies; from the Chinese Yuan, Euro, Pound Sterling, U.S. dollar, and direct bank deposits. 

GoCoin

Loved by the developer globally, it offers basic, straightforward API, which makes the transactions super secure. Various plugins available on GoCoin makes it compatible for use on multiple online shopping platforms. The payout is made in dollars, and they charge a 1% fee on transactions. 

CoinPayment

You search for the low fees crypto payment gateway ends at CoinPayment. It charges only 0.50% transaction fees for accepting 1,270 altcoins. It currently serves around 2,45,000 vendors in more than 180 different countries. You get access to various shopping cart plugins for some of the famous e-commerce stores like Magento, Opencart, Drupal Commerce, Shopify. 

Settlement of crypto transactions 

It usually takes around 10-20 minutes for a Bitcoin transaction to confirm. These scalability challenges still hamper some adoption. However, using a different crypto to accept payments is one option. Some cryptocurrencies take very little time to settle. Stellar on the other hand, takes much less time to clear, somewhere around a few minutes. 

Nearly around 3-5 bank working days, the amount gets reflected in the bank account of a merchant. Unlike the traditional payment options, the cryptocurrency transactions are irreversible.

However, this is not a matter worth worrying as there are mechanisms to help cases with legitimate complaints and refund requests. Thanks to crypto technology, wallets securely store details of the merchant’s wallet on a distributed ledger. In case there is a need, all the transaction records can be scrutinized and viewed publicly. 

Cryptocurrency is the future as it is an increasingly useful option of making transactions and carrying secure businesses and exchange, across the globe. 

Categories
Blockchain Entrepreneurship Financial Services Software

CoinTracking's success: real-time cryptocurrency tracking and reporting

Turning a hobby into a business? CoinTracking founder and CEO, Dario Kachel, knows exactly how to do it.

Since 2011 cryptocurrency trading has been CoinTracking founder Dario Kachel’s passion. What started as an excel sheet for him to keep track of the price of bitcoin, struck a need in the market and has since grown into a vital resource for many crypto traders. Here’s how he turned it into a successful business.

Kachel’s entrance into the world of cryptocurrency trading began in 2011 after he read about the new asset class in a newspaper. What started as a personal hobby soon morphed into a profitable business.

“At the end of 2011, I read about [Bitcoin] in a newspaper and thought that it sounded interesting,” Kachel recalled. 

He decided to buy his own coins and started trading soon afterward.

“Really quickly, I got lost and I actually tracked everything in Excel. But the manual tracking [in Excel] wasn’t really satisfying. So, I started to search for some kind of automated tracking tool, sure that something like this exists already,” said Kachel. 

But it didn’t. This is when the idea for CoinTracking was born.

Kachel is an experienced developer by trade and started to write a simple script at the end of 2012. It automatically imported new transactions from exchanges and updated the prices for several cryptocurrencies.

“One day,” he beamed, “I was attending the bitcoin meetup in Munich and we started to talk about this script — people actually wanted to use it!”

Inspired and spurred on by the community, Kachel began to design a user interface for the new app. Thanks to a user post on Reddit, more and more people signed up. This kind of traffic was getting out of hand.

“At one point,” he said, “the number reached 5000 new users per day. It was overwhelming and I figured that I could not handle all of this as a side project.” 

With the increasing popularity of bitcoins in 2017, Kachel started to turn his hobby into a business. He left his job, hired support staff and built a team of developers to help him do it.

Visualization cointracking
CoinTracking analyzes your trades and generates real-time reports on profit and loss, the value of your coins realized and unrealized gains, reports for taxes and much more. 

One issue that Kachel faced was a lack of skilled developers with cryptocurrency experience. “It is really not that easy to find good people in Germany with this kind of cryptocurrency knowledge. I wasn’t really convinced of outsourcing. But I am very happy with Espeo.”

Besides adding a subscription system for auto-payments for corporate users and introducing new languages and tools, such as Amazon SQS and KMS and Go language, we transcribed the code for the mobile application and added new functions. Read the detailed case study here.

The team has implemented several features since the initial launch — users can even get help with their tax statements and Kachel plans many new features and options to meet the emerging needs of users of all levels. 

“There are many criteria users should be aware of when starting trading with cryptocurrencies,” said Kachel, “and we help them not only with keeping track of their trades but also support them with the paperwork which comes along.”

If you’d like to know what criteria are important for choosing a cryptocurrency trading platform, check out CoinTracking’s newest blog post Cryptocurrency Exchange Exports: the Ultimate Guide.

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Blockchain Software Technology

6 software technologies that will dominate 2020

2019 is rapidly coming to an end. It’s time to sum up this year’s achievements and to look ahead. Narrow Artificial intelligence, mixed reality, and distributed cloud are just a few of the tech innovations to watch as we enter the next decade. Here’s a brief summary of Gartner’s 2020 tech trends report combined with our software development experts’ predictions for which software technologies will dominate the 2020s.

6 software technologies that will dominate 2020

Table of contents:

  1. Multiexperience
  2. Digital twins technology driven by IoT
  3. Distributed cloud
  4. Event-Driven Applications
  5. Blockchain
  6. Progressive web Apps

1. Multiexperience 

Improvements in wearables and advanced computer sensors are paving the way for the emergence of multiexperience, fully-immersive technology. Traditional ideas of the computer will expand to include new, varied touchpoints. This, of course, will greatly increase the demand for mobile development as firms rush to compete on better, more immersive apps.

Gartner cites Domino’s Pizza, who rolled out an ordering app that combines autonomous vehicles, smart speaker communications, and tracking sensors. The growing popularity of wearable technology is driving development in this field. Greater connectivity and improved user experience will attract more users.

Currently, multiexperience apps use augmented reality, virtual reality, and mixed reality to deliver ever more immersive experiences. As consumers demand more and more sophisticated applications, businesses will have to keep up and deliver more ambient experiences.

digital twins

Time and time again companies have trusted us as a software development provider. Read more about some of our projects and find out why.

 

2. Digital twins technology driven by IoT

Internet of things is an area where the so-called digital twins concept evolves fastest. Modern household appliances use a lot of smart components equipped with sensors to gather data about real-time status, working conditions, and alerts. They’re integrated to cloud-based systems to gather data, then process and analyze it.

And here’s how a digital twin is created. It’s a kind of pairing appliance which reflects its real-life counterpart in the digital environment. This virtual model of a product or service allows for the analysis of a huge amount of varied data. In effect, we can deal with problems before they even occur, prevent downtime, develop new functionalities and much more.

The digital twin concept has the widest coverage in such projects as smart cities, real-time navigable models, or health care  – with virtualization of hospital systems for work safety and continuity.

As web & mobile developers, we can also observe that digital twin technology is spreading to the user experience field. Service providers try to get clients to attend their events, for example trades or fashion shows and let customers build their visual twin to become a part of an event. This way they create an extraordinary user experience.

augmented reality
 

3. Distributed cloud

Distributed cloud systems promise to bring about a new era of cloud computing. These systems distribute public cloud services to several locations outside a provider’s data centers, but the provider still controls them. Cloud providers take care of cloud service architecture, governance, operations, updates, and delivery.

Since data centers can be anywhere, latency and data sovereignty challenges are reduced. Distributed cloud services offer the benefit of a public cloud service with those of a private cloud.

event driven appa
 

 4. Event-Driven Applications

Gartner predicts that through the 2020s a real-time, event-based approach will be a core required demand for 80% of all digital solutions. It’s crucial for business application development companies to apply “event thinking” to their solution strategy.

Event programming is not a type of technology or programming language. It represents an approach that should be implemented in a product development process. An event-driven application responds to actions generated by the user or the system, for example, mouse clicks or loading a program. From a programming point of view, it’s important to separate event-processing logic from the rest of the coding work.

Technologies like AI or IoT speed up event-driven coding as a useful product development strategy. In general, event-driven apps can improve responsiveness, flexibility and give a better understanding of user experience.

blockchain
 

5. Blockchain

2017 was the year of blockchain hype. Now that the hype has died down, it’s time for practical blockchian applications. Gartner was hesitant in its predictions for blockchain but stressed that in specific cases, firms can leverage blockchain technology to improve internal processes and ensure data security. 

Find out more: Espeo Blockchain – blockchain services that can address different business problems

Blockchain is a network of interconnected peer-to-peer devices. This technology provides for the absence of central databases, as well as the lack of clearly defined locations where all data is stored. Use cases here are especially useful to the supply chain and real estate asset management sectors as well as in healthcare data management. Throughout the 2020s, advanced in blockchain technology will improve its usability and enterprise applications. 

software technologies
 

6. Progressive web Apps

We have to add progressive web applications to Gartner’s software technologies. The growth of web-based solutions is a solid trend we could observe during the current year. It’s no reason to think it’s going to change in the coming decade.

On the contrary, in the long term, it’s more probable that web apps will take a significant slice of market cake from mobile apps, and not vice versa. We believe it, even more, when we hear Google reps talking about focusing on expanding the features of the current browsers to let web applications achieve the same UX level as mobile apps.

Moreover, progressive web apps are easier to develop and maintain than native applications. They combine the best features of the web and mobile apps. What’s more, they make use of the vast web ecosystem, plugins, and community.

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