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Panel discussion on Blockchain’s Role in Healthcare | WCC 2019

blockchain in healthcare

Micheal Dershem finished his keynote and then turned to become a moderator of the Panel on how blockchain needs pragmatic approach to grow in healthcare. He invited Cindy Yang, Partner & Team Lead of FinTech and Blockchain Industry, Practice Group Duane Morris LLP; Alice Loveys, Managing Director of EY; Aman Quadri, PT, DPT, Cert. MDT and the CEO of Amchart + Amsys Blockchain and also, Rogelio Santos, the CEO of Aevolve.

The discussion started off with basics on data again plays a crucial role in upending the medical sector within the blockchain. It helps keep track of several aspects of a prognosis course such as maybe biomarkers etc.,

Rogelio Santos started off by quoting his work over the last decade on therapeutic effects to cure alzeimers. He also noted his spending of millions of dollars with no revenue because he pursues with pure perseverance. Before finishing introductions,He has announced the ICO launch and was applauded and congratulated. 

On asked on what is the new data frontier and how blockchain will help with it, the Alice Loveys agreed that supply chain in every space is a big challenge. Alice says that they are working on creating an individual cancer care platform. Here the patient’s own immune cells will work towards creating their own cure. The importance here is to get this right or the patient dies.

What later followed was a riveting discussion as to how the silhouetted and traditional the current healthcare blockchain system is and what the ways were to migrate it from legacy systems to disruptive blockchains that increase the bottom line revenue.

They also talked about how patients all over the world are responsible for their own health records but just in the US, we have a system where the institutions hold the health records. The key to solve this is to keep patients as the centre of such systems.

In order to have a patient centric system, we need to think what would the patient want? He or she needs to be at the centre of the system. They should be able to control the financial and decision making aspects of the system. That is what makes the system truly patient centric.

Patient awareness is the key that we need to look for if we are looking for ways to make a more inclusive blockchain in healthcare. But then, not a lot of patients feel encouraged or comfortable to share their data records with the chain. Citing the Facebook data issue, the consensus talked on how we need to help them protect their privacy. Patients are skeptical about sharing their data with us and we would need to educate them to get the better of this. 

The system is pretty much paralized because of a lot of people understanding data. The data insensitivity has got corporations and governments baffled. So much that CMS now has regulations for data blocking. 

All people want is choice, Alice adds. Someone may ask, “ Please take and manage my data for me” But someone may not. Some other may want to say “I want all my data to go to research” People just want transparency and choice. Nothing more.  It is our job to give people the choice to decide and then act on that. 

“If I can’t just pull data and be done with it. Data is very dynamic in healthcare”  Alice says. To this, aman adds that “ We are working with a health information exchange in Texas. There are 7 and a half million patients in the exchange and none of them have access to the data”. The ability to give them access to data is what CMS is trying to do and this is great.  

We need to first establish what is the data we have, what can be shared, what needs to be shared and who can access what.

Thank you for reading this article.

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