In 2006 the Harvard Business School Press published a book — Redefining Health Care: Creating Value Based Competition on Results, by Michael Porter and Elizabeth Olmsted Teisberg — that offered a compelling critique of our healthcare system. However, the book also introduced a breakthrough framework for redefining how healthcare value is delivered through quality and efficiency.
Today, healthcare in the U.S. is more than a $3.5 trillion industry. It is projected to exceed GDP growth for at least the next decade. A significant portion of costs are tied to slowed processes due to intermediaries and legacy technology instruments (think paper filing).
But with the emerging innovations using blockchain technology, the present moment is ripe for opportunities to disrupt healthcare using the blockchain’s distributed ledger technology.
PokitDoc is in pursuit of some of these opportunities. Using an application program interface (API) platform, PokitDoc will untether critical healthcare business data for trouble-free integration with new and existing services. Its aim is to satisfy a patient’s desire for both access to and control over their healthcare data, thus enabling the healthcare system’s improved connectivity.
When talking about blockchain technology, there are a few buzz terms that seem to be imperative. What is one we hear again and again? Smart contracts.