HLTH Matters Blog features Hashed Health CEO John Bass on how technology and collaboration can reduce costs and improve resilience.
It’s been almost four weeks since the end of Devcon V, and it’s safe to say I’m still adjusting back to normal life stateside after an amazing experience in Osaka. While I’ve finally recovered from the 14-hour time difference, I am still thinking about all of the incredible people I met, informative presentations I attended, and thought-provoking conversations I experienced in those 4 days.
Some of you may be wondering who I am and why this post is featured here. For background, my name is Porter Geer, and I am an intern this semester at Hashed Health. I’m vetting the role of blockchain and supporting research for social determinants of health use cases, while also working with Professional Credentials Exchange (ProCredEx) as the design partnership program ramps up.I developed an interest in blockchain technology in the last year or so, and found myself at Hashed Health this fall eager to continue diving into the blockchain ecosystem. Enter Devcon V, and the opportunity of a lifetime. Now, I’m back in Nashville and am excited to report back on this amazing experience.
I arrived in Osaka on October 6th eager to begin the week at the world’s largest annual event for blockchain, at what some would call an Ethereum community “family reunion”. DevCon V ran October 8th through 11th, gathered 3,000 attendees, and was jam packed with presenters, lightning speakers, workshops, and breakout sessions. As DevCon is put on by the Ethereum Foundation, many of the events were highly technical, and much of the conference was dedicated to open discussion and presentations on the Ethereum Road Map, Eth2.0, infrastructure, scalability and security, and DApps. Sprinkled in the mix were showcases of companies and the work they’re doing with blockchain, use case examples, and social impact presentations. While neither an engineer nor a developer, there was still a great deal I was able to learn from even the most technical of discussions, because almost every single event came back to the core struggles with, but also the purpose of, Ethereum and blockchain technologies as a whole.
The star of the week was easily Vitalik Buterin, co-founder of Ethereum, who delivered a keynote address on day 2 of DevCon V to a conference hall filled to the brim. In his keynote, Buterin, who focused a lot of the discussion on the progression and development of Eth2.0, explained that after the proof-of-stake (PoS) consensus algorithm is implemented in Ethereum’s blockchain, it would become more secure and costly to attack than Bitcoin. Buterin stated, “What about attackers who have a really large, extra protocol incentive, or just want to watch the world burn? Could be a government. Or hackers that want to have some fun. The critique here says we’re assuming we have these participants motivated by economic incentives. What if there are people who just want to break the thing regardless?” The current implementation of Ethereum is built on Proof of Work, wherein the network is stabilized by hashrate, or computing power. With Proof of Work, an attack on the network requires 51% of the network to act maliciously in order for the network to be compromised. The new Proof of Stake would involve Ether being locked in smart contracts to validate new blocks; the stake, or locked coins, would be slashed if the stakers act up. Proof of Stake is inherently more secure than the Proof of Work. In Proof of State there’s a period of time after a block is validated in which it can be challenged by others. If a validator is dishonest and cannot prove that the data is not malicious, his stake would be taken away. Overall, a successful attack on the network will require a substantial amount of ether, and even then, if an attacker is continuously challenged and proven malicious his stake will be taken. Over time the attacker will not have a sufficient stake of ether to compromise the network.
Other prominent members of the Ethereum community who were in attendance included “Bitcoin Jesus” and angel investor Roger Ver, Joseph Lubin of Consensys, and Summa co-founder James Prestwich.
With upwards of 60 events each day, it’s impossible to recap on everything that I was able to experience. Below, I have discussed a few presentations and events that I attended while at DevCon which I found particularly interesting, relevant, or thought-provoking. To see a list of the full agenda and speaker biographies, please click here.
“What do we do about Libra?”
In recent months, lots of talk has been circulating about Libra, Facebook’s cryptocurrency, and Devcon was no exception. Lucas Geiger of Wireline gave a talk entitled “What do we do about Libra?” in which he discussed key background information, such as the fact that Libra is incredibly attractive to people in countries and/or under governments with either corrupt or poor financial and economic systems, and brought up big questions like if Libra is too big to fail. Geiger used his platform to introduce Open Libra during his presentation, an “alternative to Facebook’s Libra, that places emphasis on open governance and economic decentralization.” Like most blockchain projects, Geiger emphasized that governance will be the biggest focus moving forward. His big point? That he thinks Libra will inherit the legacy of bitcoin and smart contracts, but challenges us to ask ourselves if we’re going to keep doing the same thing with new tools. Check out www.github.com/open-libra/movemint for more information.
We Come in Peace: Why VC Matters to Ethereum (and vice versa)
Jehan Chu of Kenetic Capital presented on day 2 of DevCon on the place of venture capital in the Ethereum community. Chu discusses how “Ethereum has achieved incredible technical innovation and user growth, forging a new path of user-based funding and open governance that has impacted the fundraising landscape” without the assistance of venture capital. This talk raised the question of whether the cultural and decentralization mission risks of engaging VC’s and large institutional holders of Eth outweigh the potential benefits that VC’s could provide. Chu emphasizes that the old model of venture capital needs to be updated to fit today’s focus on decentralization, and that the common ground between VC’s and key players in the Ethereum space is the belief in the mission and the project, as many within the VC space have been long term holders and maintain long term interest. VC’s, he argues, are really good at building stories and relationships which could be leveraged by this technology. The question, then, is how can we improve venture capital in the age of decentralization. His answer? By helping to grow the communities, and not just allocating, but participating as well.
Living on Defi: How I Survive Argentina’s 50% Inflation
Mariano Conti, the head of Smart Contracts at MakerDAO, lives in Argentina and is paid entirely in Dai. The goal of his presentation was to display how Ethereum’s DeFi movement has changed the financial reality for individuals in developing economies by leveraging Dai and secondary lending platforms. Conti highlights that those in Argentina and other parts of South America who are paid in crypto are able to access more stable currencies than their local ones, with better interest rates. The access to these kinds of systems are necessary due to the fact that there is corruption among governments and local financial institutions, limited access to foreign currencies, and extreme and fluctuating inflation. There is such a great risk in holding onto physical cash in Argentina that Conti believes the risk from interest on DAI to be lesser. Conti argues that if people truly want to see the impact that crypto can have, then they should look south to those like himself and to communities like Argentina. His big call for help lay in the fact that Dai is a stable form of Ether, and so a strong Eth inherently equals a strong Dai. The stability of Dai, in turn, relies on the Ethereum community.
Money At The Edge: How People Stay Afloat in Venezuela
Humming similar tunes to Mariano Conti, Alejandro Machado of Open Money Initiative (OMI) presented on the effects of crypto for the financial situation of individuals in Venezuela. OMI researches how people use money in collapsing economic systems, specifically within Venezuela to understand how citizens survive in the midst of heavy capital controls, criminalization of free markets, and hyperinflation. Machado shared various stories of the Bolivar being used to create art and home goods and of individuals fighting to save exclusively in bitcoin and only use local currency in dire situations. He discussed the effects of the Venezuelan government’s tight grip on society, particularly that Venezuelan banks are not permitted to interact with banks outside of the country, making money exchanges feel shady and like “drug deals”. Similar to Argentina, hyperinflation and the fluctuating nature of the currency is extremely dangerous for those living in these countries. Yet Machado sees an opportunity in learning how to leverage trust instead of avoiding having trust. The key takeaway for builders will be making products that are not just usable but are useful, and products that (some) people really need, rather than looking to fit mass adoption. Check out @makeopenmoney for more information.
Joseph Lubin’s DevCon Call-to-Action: OneMillionDevs.com
Consenys’ Joseph Lubin praised the success the Ethereum ecosystem has had in the last year with respect to core development, adoption, defi, and improving scalability. As evidenced by the thousands of eager individuals present at DevCon, the main advantage that Ethereum holds in the blockchain sphere is its community, specifically those developers that are dedicated to grow and build the network. Lubin’s talk discussed the state of development on the Ethereum blockchain and set some benchmarks for the next year but the biggest part of his presentation was the proposition of a common goal: “When 1 Million ETH Devs?” Lubin’s call to action to grow the Ethereum developer community will be offset by the OneMillionDevs initiative, intended to inspire one million blockchain developers, technologists, and hackers to see how they can contribute to writing smart contracts and developing applications on the Ethereum network.With an estimated 30 million software developers worldwide, the number of blockchain developers is much lower at only several hundred thousand. The largest part of this community develop on Ethereum, and Lubin urged these individuals to grow Ethereum’s “mindshare” to one million within the next year.
Coming into DevCon on my own as a student with little background in the technical workings of Ethereum was intimidating, but coming out on the other side I feel incredibly fortunate to have had the opportunity to learn and grow in such a unique environment. While there was little discussion at the conference that directly concerned the healthcare practice, there were many lessons that could be taken home with me to Hashed Health. The following are four things I took home with me from DevCon V:
1. Importance of effectively educating the target market.
Blockchain technology as a whole can be intimidating because of its apparent complexity. From increasing the amount of people who exchange cryptocurrencies to connecting different players in the healthcare field to consortia, it has never been more important to educate our target audiences. By itself, blockchain technology serves little purpose; it is when it is connected to suppliers and consumers of a service that it becomes a business. It is incredibly important to recognize the role customers and other audiences play in maintaining these businesses, and as such those who develop and work on blockchain products must know how to effectively connect the technology to business and communicate it in such a way that makes it accessible, appealing, and approachable for customers. Otherwise, organizations risk falling into a stalemate. Flipside Crypto put it well in stating, “As the crypto market matures, so does the requirement to understand customers, drivers of revenue, and measures of success.”
2. Collaboration is key.
As I conduct my research here at Hashed Health around use cases for blockchain and social determinants of health data, I couldn’t help but be struck by UNICEF’s DevCon presentation on bringing broadband connectivity to all schools. The potential to use crypto donations to connect to local internet service providers and bring internet access to underserved institutions is huge. What lessons and inspiration can be drawn from their work in this area that will be valuable to connecting hospital patients with SDOH indicators to the appropriate social resources? What would happen if we all became more collaborative with our solutions and looked into other areas they could easily apply or be better suited to serve? What’s more, as Lubin noted in his challenge to reach 1 million developers, the number of blockchain developers is low relative to overall software developers. What greater success and development would be possible of thousands more dedicated minds were involved in this community? As great minds are drawn in, the strength and volume of the ideas will lead to more successful products and shorter production times.
3. Iteration is inherent to development.
Just as DevCon attendees indicated understanding that Ethereum as it was originally built is not scalable and requires reworking, so should those in the blockchain and healthcare arena. It was clear from every presentation that I attended that those in the Ethereum community have committed themselves to working towards better versions of the technology they’re building. In fact, even the nature of the discussions themselves, which allowed for many differing opinions to speak up, were great examples of the iterative process Ethereum is undergoing. The same can be said for any modern technology – likely these technologies have gone through multiple stages of development, and their capacities continue to grow and evolve with feedback and iteration. It is understanding that if blockchain manifests something different than what was written in the original white paper, that doesn’t make it a scam, but rather should be welcomed. As we focus on the role of blockchain in healthcare, the same can be said for the products, systems, and consortia we’re trying to develop – how can this new technologies allow us to approach and address old and previously unsolvable problems.
4. Passionate, creative, rule breakers create change.
If there’s one thing that stuck out to me more than anything at DevCon, it was the energy, dedication, and commitment to Ethereum that radiated out of every room in the ATC Conference Hall. Regardless of how you or I feel about Ethereum and its champions, there’s no question that there is innovation in the air. It is important that we continue to question existing systems and develop the unconventional. The work we’re doing at Hashed Health is the perfect example of this – we’re taking a 50 year-old, slow, expensive process and creating an entirely new way to exchange information in a marketplace. Change occurs when rules are broken. I encourage the community to continue to push boundaries and do something no one’s ever done before, regardless of the resistance that may exist at first.
Porter is a senior at Vanderbilt University, studying Human & Organizational Development and French. She can be reached email@example.com.
Excerpts below – Read the full Article here: http://protomag.com/articles/what-blockchain-could-do
WHAT BLOCKCHAIN COULD DO
Beneath the hype is a technology that could solve many logistical problems that plague medicine.
EVERY YEAR IN THE UNITED STATES, billions of dollars’ worth of unopened, unexpired prescription drugs are destroyed or tossed in the garbage—at a time when a quarter of the U.S. population says it can’t afford prescribed medicines and sometimes goes without. Many states have set up donation and reuse programs through pharmacies, charitable clinics and hospitals, but such programs have done little to solve the big problem of wasting perfectly good, desperately needed medications.
Good Shepherd Pharmacy, a nonprofit in Memphis, has been part of an effort to collect unsold medicine from drug manufacturers and wholesalers, with the goal of dispensing it to uninsured and low-income patients. But the initiative has gotten bogged down by the hands-on work it demands from participants, according to Phil Baker, founder and CEO of Good Shepherd. “There’s a lot of paperwork and phone calls,” he says. So his pharmacy, along with Lipscomb University’s College of Pharmacy in Nashville and the University of Memphis, recently announced the first steps in an effort to track prescription waste more easily and link needy patients with prescription drugs. The backbone of this global network is blockchain.
SOME BLOCKCHAIN IDEAS ARE already in motion, demonstrations of what John Bass, founder and CEO of a blockchain startup in Nashville (Hashed Health), calls “low-hanging fruit” that demonstrate how the technology can deliver real value.
For the past two years, for example, U.S.-based Spiritus Partners has worked on a pilot project with National Health Services Scotland and other participants to test how blockchain might be used to track medical devices. “We’re interested in whether a device is safe at the point of care—in an acute care setting, outpatient facility, or at home, or as an implant,” says Susan Ramonat, CEO of Spiritus Partners.
Read the full Article here: http://protomag.com/articles/what-blockchain-could-do
Find the original and full article here: https://www.hpnonline.com/sourcing-logistics/article/21105835/inverting-supply-chain-mindsets-with-futureready-thinking
Inverting Supply Chain mindsets with future-ready thinking
Techniques, technologies may give standard practices a new look by 2030
Executives and professionals in healthcare supply chain gaze somewhat longingly at other industries for glimpses at what might emerge within their realm of influence in the coming years but maybe that’s a distraction and not the feared disintermediation that some fathom might occur. At best, it would foment disruption of the status quo.
During his popular educational session at AHRMM in late July, titled, “NextGen Supply Chain and Leadership Capabilities: Digital, Innovative and Disruptive,” Randy Bradley, PhD, Associate Professor of Information Systems & Supply Chain Management, Haslam College of Business at The University of Tennessee, Knoxville, said something rather profound and thought-provoking. Paraphrasing, he detonated this idea: What if [insert disruptor here] really isn’t looking to do what healthcare currently does, only better? What if [insert disruptor here] actually is looking to do what healthcare doesn’t?
Yikes. Talk about flipping the stereotype.
So, for example, if an organization such as Amazon (which was cited specifically) wasn’t really in the market to replace/supplant distributors, dot-coms, GPOs, shippers, supply chain management expertise within hospital settings, then what’s with all the hullabaloo the last few years? That’s the point. Instead of holding up Amazon as the paragon of the future-ready supply chain in healthcare — and rest assured, most people agree that Amazon does what it does fairly well — why not explore the gaps in current healthcare supply chain operational continuity that need to be filled, and by whom?
For some, new and emerging techniques and technologies will shape how the future of healthcare supply chain shakes out. For others, new and emerging mindsets and creative thinking will drive it first. And for others, it may be a combination of all of that against the backdrop of economic warfare where the desire for revenue generation and profit growth battles against the dread of reimbursement reductions and budget cuts.
Of course none of this supersedes mastery of the fundamentals of supply chain operations; that is, ensuring the right products in the right quantities are in the right places at the right times and for the right prices so that clinicians (e.g., nurses, etc.) don’t have to embark on a “vision quest” to locate them.
Among the variety of techniques and technologies that may or will redefine and reinvigorate healthcare supply chain operations within the next 10 years, which will emerge as a “need to have” versus a “nice to have?”
16 areas of advancement
Healthcare Purchasing News selected 16 of the trendy and true topics that have been tapping into the mindsets and operations of supply chain and garnered roughly the same number of industry experts and observers from the healthcare provider and supplier communities to weigh in with their impressions.
Neil Olderman, President, Innovative Health Strategies, and Partner, Drinker Biddle & Reath LLP, looked at the list of 16 and agreed that all of the processes and products contribute to the future-ready healthcare supply chain because they all have a home or roots in the consumer world, used by consumers to enhance capabilities and efficiencies.
“In my view, this is the focus in healthcare’s next transformation, and the supply chain will not escape the scrutiny and the task,” Olderman noted. “How has the healthcare supply chain been designed to impact the patient experience in a positive way (driving lower cost, better outcomes and user experience, and enhancing the care and easing the consumer’s burden in accessing quality care)?
“All of these technologies and processes will be used in the next 10 years in healthcare and in the supply chain — and many are being deployed today,” he continued. “The driver will be the need to compete in a consumer-driven environment where patients are armed with price and quality information and the ability to seek care remotely through telemedicine and other similar capabilities. All of these processes and technologies become essential to addressing the needs of the patient/consumer in this context.”
Joe Pleshek, President and CEO, Terso Solutions, sees beyond real-time location and tracking.
“What does success look like? Success is the creation of a Real-Time Healthcare System (RTHS),” Pleshek told HPN. “This system uses situational intelligence to improve decision making around patient care and healthcare operations. It is able to sense the need for a change proactively and has the means to execute that change. It works to eliminate waste and latency, accelerate business processes, balance resources versus demand, improve care quality and the patient experience.”
Innovative Health Strategy’s Olderman insists that future-ready anything in healthcare will hinge on consumer demand and their demands.
“Every aspect of the healthcare provider business will be forced to answer the question: What have you done to better serve the consumer knowing that the consumer wants high-quality, affordable healthcare close to home that is easy to access? Every component of the provider enterprise will need to consider the question,” Olderman indicated.
“New products and technology or those used today in other industries will need to be developed or adopted where the consumer makes that same technology part of his/her routine or daily expectation,” he noted. “Being able to access your medical record today from a portal accessible on your phone is a perfect example of how something commonly used in non-health care settings (like banking) influences the standard healthcare needs to meet in a consumer-driven market. Therefore, avoiding eco-minded sourcing or failure to reduce the carbon footprint within health systems will be measured and evaluated by consumers over time.
“Being able to make a specific part or device needed to perform a procedure for a specific patient will lend itself to adoption of 3-D printing (putting aside the FDA approval issues for a moment). Needing to drive down the cost of certain functions while maintaining certain high standards applicable to infection control and cleanliness will dictate the deployment of certain robotic technology, and so on,” Olderman said. “The supply chain will be the source, in many cases, for the evaluation, cost-benefit analytics, testing, sourcing, contracting and deployment of many of these technologies both within the supply chain operation (e.g., blockchain for efficient contracting) and within clinical operations tied into the supply chain (e.g., robotic central supply or centralized sterilization). My expectation is that supply chain leadership that is well versed in what technology and processes can enhance operations and the consumer experience will be the vanguard for the adoption of many consumer-driven improvements deployed by healthcare providers.”
1. Artificial intelligence (AI)
This topic represents computers equipped with software programming that can learn from and react to staff searching and tasks. They can be instructed to recognize what you are doing and also decide what you need next or even what you’re overlooking based on recorded behaviors, searches and tasks. It’s decision support 2.0 in that machines not only learn from each other but also from the end users. Many experts and observers think AI is a “need to have” technology for the healthcare supply chain.
Karen ConwayKaren Conway, Vice President, Healthcare Value, Global Healthcare Exchange (GHX)
“We’re already seeing AI being used to predict future patient needs through analysis of multiple kinds of data from genomics to lab tests to information about the social, economic, environmental and behavioral factors that impact a person’s health. Through the power of AI, healthcare providers can predict which patients are more likely to develop certain disease states or will benefit from different therapies. This enables providers and payors to proactively suggest different kinds of behavior changes, diagnostic tests or other interventions. Healthcare systems can also ensure they have staffed appropriately to handle demand.
“From a supply chain perspective, this kind of data could also help better plan for the what kinds of products and services that will be required to support patient care and where they will be needed. That’s a pretty exciting prospect for an industry that has not yet been able to generate good demand signals from the actual utilization of products.
“Another exciting area for AI is the ability to assess and predict risks to supply continuity. AI could help predict potential shortages or backorders and enable the industry to take proactive steps before the lack of product creates a negative impact on patient care. “
Steve KiewietSteve Kiewiet, Chief Commercial Officer, Intalere
“Current supply chain processes are rampant with routine processes that can and should be automated. The amount of time wasted, and errors created by humans moving data from websites to spreadsheets or from one sheet to another or from one place into an EMR, etc. is beyond embarrassing. With so much critical work that these people could be performing in the support of better healthcare at lower cost. We must automate all appropriate repetitive tasks. Additionally, Intelligent Automation can make decision support systems more effective and improve decision making capabilities for all those involved in healthcare delivery and supporting healthcare delivery.
“The use of AI has been shown to significantly improve the capability and effectiveness of human decision making and performance. We don’t achieve the future without this enhancement.”
Keep Reading, find the full article here: https://www.hpnonline.com/sourcing-logistics/article/21105835/inverting-supply-chain-mindsets-with-futureready-thinking
See the full story and Original Post at: https://www.disruptordaily.com/blockchain-in-healthcare-use-case-hashed-health/
This interview is part of our new Blockchain In Healthcare series, where we interview the world’s leading thought leaders on the front lines of the intersections between blockchain and healthcare.
In this interview we speak with John Bass, CEO of Hashed Health, to understand how his company is using blockchain to transform the healthcare business, and what the future of the industry holds.
1. What’s the story behind Hashed Health? Why and how did you begin?
JB: Hashed was born out of my experiences at two other healthcare technology startups. Both focused on using technology to solve complex multi-party network challenges in supply chain, registries, patient engagement and value-based care.
My experiences at these companies taught me that the delivery and payment of healthcare is a team sport. I came to understand the importance of collaboration and how technology can be used to facilitate concepts of shared value, which I feel is the future of healthcare. It became clear that today’s healthcare delivery systems are flawed at a foundational level. Healthcare value chains are working as designed, which is why healthcare costs are approaching 20% of gross domestic product. I believe value-based payments and other attempts to realize the “quadruple aim” (better outcomes, lower cost, improved patient experience, improved clinician experience) don’t scale well because of fundamental issues related to trust, transparency and incentive alignment.
In 2015, I took notice of what was happening in the Ethereum community and in the fintech space. I realized blockchain is purpose-built to solve issues of trust, transparency and incentive alignment. It was not hard to connect the potential of the technology to the business problems I’d been struggling with. So, in 2016, I founded Hashed Health, the first healthcare-focused blockchain company.
2. Please describe your use case and how Hashed Health uses blockchain:
JB: Because of our origins, Hashed Health started with a protocol and use case agnostic approach. We believe that the early meaningful work is B2B, so we focused on developing the B2B market with a number of enterprise partners on a number of enterprise solutions. This work has given us a front row seat in terms of real-world design patterns and networks.
The majority of our work falls in two areas: asset exchanges and multi-party business process automation.
Perhaps the project we are most known for is the Professional Credentials Exchange (“ProCredEx” or “PCX”), which is an asset exchange for verified credentials data.
ProCredEx represents a new business model for credentialing physicians and other practitioners. It’s a great example of how a distributed ledger can solve a trust problem (primary source verified data) while enabling an incredible new business model (a data market) that is dramatically different and better than the way credentialing is performed today. Using this construct, any entity who has gone through the process of curating this data can offer those primary source verified data artifacts to those who need them. It’s a new, more effective way of solving an old, painful problem in healthcare.
3. Could you share a specific customer/user that benefits from what you offer? What has your service done for them?
JB: Like most projects in the healthcare blockchain space, Professional Credentials Exchange is not yet operating at scale. This solution has the potential to reduce a lot of cost in the system while improving access for patients and decreasing headaches for physicians.
Today’s issue is primarily a revenue cycle challenge. Credentialing takes months of manual processes in today’s world. Generally speaking, during that time physicians and practitioners are unable to treat patients or be paid for that treatment, resulting in lost revenue of up to $9000 per day according to recent studies. The headaches are even worse for telemedicine programs and the military.
Over time we see it as a gateway to a range of future physician identity concepts, but we feel it is important to solve today’s issues first and use an iterative approach towards the future of practitioner identity management. We believe we can create a lot of value for the buyers and sellers of these non-sensitive assets (no protected health information, etc) and we already have a sophisticated network of name brand insurance companies, health systems, and data partners committed to the project. These companies have tremendous upside through the first mover advantages of the network. The added bonus is they get to learn about the realities of a jointly operated system in real time.
4. What other blockchain use cases in healthcare are you excited about?
JB: I am most excited about two design patterns: asset exchanges and multi-party business model innovation. There are a number of use cases that we are actively exploring in each of these areas.
For new asset exchanges, we are taking the pattern of ProCredEx and applying it to other use case areas in supply chain, data management, and rational markets. For business process automation, we are excited about the response we are receiving in our efforts to improve the adjudication of contracts, care delivery workflows, and clinical trials. As we continue to iterate on these solutions, Hashed Health improves its ability to create tools that enable their meaningful use.
Because of my background, I have a personal affinity for value-based care initiatives. I fully support a transition from volume-based care to value-based care, but the underlying infrastructure limits our ability to scale these multi-party efforts and align the teams delivering coordinated care to patients. The trust and transparency issues result in tremendous administrative burden and failures in providing care teams with the operational intelligence they need to take on risk. We’ve been at it for over ten years now and I believe we need to question the wisdom of continuing to build value-based solutions atop infrastructure that cares only about transactions. Our team at Hashed is working on this problem.
Outside of Hashed, I am probably most intrigued by the MELLODDY federated learning project out of Europe. In this project, fiercely competitive pharma companies are running AI on their chemical libraries and collaborating around the results for improved drug discovery.
That’s the cool thing not many people recognize… These consortia are bringing together big competitive companies to solve big problems that none can solve alone. I don’t think anything like this has ever happened before.
5. Where will Hashed Health be in 5 years?
JB: In five years, I believe we will have at least five use cases that will have proven their value in production across a network of brand-name enterprises. I don’t think our website or any of our marketing language will mention blockchain. I think you’ll see us applying blockchain, derivatives of blockchain, and hybrid cloud solutions to problems where the business characteristics will drive our technical solution and our business model innovation. In five years, I think we will be learning a lot about the relationship between blockchain and AI, ML, IoT, and precision medicine. In five years, I think we will begin to understand how blockchain can begin to empower the patient. I think that’s when the real disruption can begin.
About Emilia Picco
Emilia is the Managing Editor of Disruptor Daily and has been with the team for over two years now. She has a deep passion for technologies that will reshape our world and has interviewed many of the world’s leading thought leaders. She lives in Argentina and as expected, is a wine lover.