TAIPEI, Taiwan, Nov. 14, 2017 /PRNewswire/ -- Taipei Medical University Hospital and Digital Treasury Corporation (DTCO) jointly unveiled blockchain based personal healthcare record operating system (phrOS) at Hyatt, Taipei on November 10, 2017. This officially marked the entry of blockchain technology in the healthcare sector. phrOS will enable the rise of patient-centric healthcare system, where an individual can carry their own medical information digitally. This would not only secure the data from external hacking threats but also enable seamless cross-hospital treatment and hassle-free online insurance claims by the individual, without having to face complicated procedure of applying for personal medical records. Fubon Financial Holding is actively involved in sponsoring the platform and exploring the benefits of blockchain based smart insurance claims.
The Healthcare Blockchain Forum held at Grand Hyatt Hotel was attended by luminaries from the medical and scientific community. Minister Chen Shizhong of the Ministry of Health and Welfare, President Lin Jianhuang of Taipei Medical University and Yu Wanru legislator, were some of the eminent dignitaries who witnessed and lauded the creation of medical blockchain alliance. DTCO CEO Jacob Lee opened his speech by emphasizing the benefits of blockchain application in healthcare sector and introduced the basic functions of the account, such as: opening of phrOS account for an individual, my health records, intelligent insurance claims, amongst others. Dr. Same Lo, Chief Information Officer of Taipei Medical University, also shared phrOS utilities, such as health checkreports, IoT of wearable devices and filing medical insurance claims.
Jacob Lee, CEO pointed out the acronym phrOS stands for Personal Health Record Operating System along with emphasizing the underlying blockchain technology, the integrated identity authentication, online authorization, distributed storage technology, Ethereum permissioned blockchain and many other technology developments which this platform brings to the fore. Hospitals can either open phrOS account for newly registered patients or open a new phrOS account for their existing patients, following which they can gradually export health check reports and medical information to these accounts to enable the individual to keep and accumulate their own medical information. In future the individual can authorize the data by circulating it within their trust list, which includes other doctors, healthcare providers and insurance providers, for automated insurance claims. They can even link personal lifestyle information, environmental information, etc., to form a cohesive personal healthcare record.
Ray Chen, Superintendent of the Taipei Medical University Hospital dedicated to promoting precision medicine, said that precision medicine is based on the circulation and accuracy of information. The current medical information of patients is kept by medical institutions so when it comes to exchange of medical data of patients a lot of factors influence the process which includes security, privacy and interoperability of different systems. The blockchain technology can significantly reduce the operational issues and enhance the transfer of personal medical data between cross-industrial platforms.
Ray Chen emphasized that the healthcare blockchain alliance is imperative for keeping up with the trends in digital medicine. In the future the alliance aims to follows the government's policy to promote, formulate and standardize the medical data transfer protocols. Along with it the alliance plans to work together for developing data driven medical novel applications and seek solutions to enhance the health and well-being of the general public. At the same time, will actively encourage the embracement of digital medical record keeping, internationally.
Fubon Financial Holdings is actively engaged in realising the goal of intelligent medical claims by partnering DTCO in development of blockchain based solution, so that the underlying process of filing of medical claims and claims handling procedures becomes smoother. In the past, people would have to apply for medical insurance claims, by filling out the application form and collecting paper documents supporting the claim. This will soon become part of history by employing blockchain based solution to achieve automated filing of insurance claim and automated review procedure. The automated process can significantly reduce the time and cost of review process along with elimination of fraud cases. Fubon Financial Holdings has joined the health care blockchain alliance to work together to standardize the process and create a benchmark for future reference.
Blockchain technology which is based on the encryption of algorithm and decentralized accounting model, is the key for innovations in the financial sector. It can be used in the medical industry to transmit and store medical records more than traditional methods, safe and fast.
Jacob Lee said that the world is beginning to realize the applications of blockchain in healthcare sector. In the past, the medical profession in Taiwan has made considerable achievements in electronic medical records. It has taken the lead in the area of blockchain and can lead the development of a white paper on the global medical blockchain standard. At the same time, because of the open-source nature of the blockchain, it is possible to speed up the IoT of medical equipment and medical systems by establishing a blockchain alliance by leveraging digital medical innovations, including big data and artificial intelligence.
DTCO also demonstrated the phrOS Super Node for large hospitals, the Light Node for clinics, and mini-nodes for wearables. Based on its capabilities and needs, the healthcare system can be connected to the phrOS blockchain network and set up a "people-centric" personalized medical service with accurate, timely and secure healthcare.
Digital Treasury Corporation (DTCO) was founded in 2014. The corporate management team consists of international blockchain scientists along with professionals from the fields of finance, ICT, and biopharma industries. DTCO serves as a bridge between business and blockchain for wide range of applications including biopharma, healthcare, e-identity and crypto finance. Through industry collaborations, we are confident blockchain technology can bring great value to society.