Blockchain, the Metaverse and Medtech
The Metaverse Doctors Alliance (MDA), a new effort to provide virtual healthcare globally, is turning to blockchain to increase access and ensure privacy. Blockchain technology can also help medical technologies to get involved.
The alliance was launched in December in South Korea. During the launch ceremony, Solve Care introduced its networking portal Care.Labs, which would provide a Korean offering in the local language to support the MDA.
“We are honored to be the only blockchain company invited to this groundbreaking launch,” Pradeep Goel, CEO of Solve.Care, said in a press release at the time. “The world is preparing for the Metaverse, and the benefits it can provide extend to the healthcare sector. It will bring a greater chance of accessible, global, and equitable healthcare. As blockchain allows us to solve the underlying root causes of health issues, such as sovereign identity, data security and health records management, fraud, consent, management, etc., it must be the core technology used to solve the global management challenges faced by healthcare today.
DM+DI asked Solve.Care about the potential role medical technology could play in the Metaverse Doctors Alliance. “The global healthcare industry is under increasing pressure from the explosive growth of data in the form of electronic health records, clinical trials, mobile apps, wearable devices, health, etc Physicians are on the front lines and are most aware of urgent health care needs and current gaps,” Goel said. DM+DI. “Artificial intelligence has emerged as a possible innovation for medical use, but some say the resources are still insufficient, the technology can be complicated and may be doomed to failure due to the expense and investment involved.”
Solve.Care hopes to address these challenges. “We believe the metaverse has the potential to be the best platform to protect the ideal that patients should be able to easily connect with physicians and vice versa,” Goel explained. “Now, it is not true that all medical treatment and consultation should be done on the metaverse. What the metaverse can do is help solve the demand/supply problem that practitioners are currently facing. and patients.We want to create options, an efficient meeting place and, in turn, remove the stages in which the consultation and diagnosis process is slowed down.
That’s where blockchain comes in. “Integration of blockchain into these medical devices and the communication systems between the device and healthcare professionals may be key to the success of this shift,” a- he declared. “The security provided by blockchain can help prevent intrusions into personal data and help medical device companies comply with regulations, such as HIPAA, that would serve to protect the patient.”
And, when it comes to medical devices, “advances in creating smaller, more precise devices for home use will be a boon to improving healthcare. These devices could enable the collection of vital patient data. But this data is only useful if it can be used easily, efficiently and safely,” he said. DM+DI.
According to Goel, blockchain technology “simplifies consent processes for patients and healthcare organizations. Smart contracts can improve the efficiency of the healthcare system as they reduce the workload of healthcare providers. For example, a patient making an appointment will automatically generate a reservation on the healthcare provider’s side, based on availability. »
Blockchain also has the potential to make administrative, care delivery and payment processes “transparent,” Goel explained. “This reduces fraud and administrative burdens for the doctor and for the insurer, and even for the patient to make a co-payment. Blockchain technology eliminates time-consuming and unnecessary processes that are currently in place in any given centralized system in place across the globe. The auditability, immutability, transparency, and encryption of blockchain enable more efficient, secure, and transparent credential management processes. Similarly, blockchain technology allows the user or patient complete autonomy over their data.