The cost of healthcare has always posed a challenge to access to quality medical care for the ordinary person across the globe. Healthcare expenditure is expected to increase between 2.4% and 7.5% globally, and this will affect the quality of services and access to drugs among others. With too much inefficiency in operations, data storage and supply chain in health management things may get out of hand for the larger population that is resource deprived.

With the use of blockchain technology, standardization of processes is the only way to make the cost of healthcare affordable to all. With the entry of Healthureum into the market, the current scenario is set to change for the better. The platform seeks to bring all the stakeholders together for fast access and sharing of medical information.

With the rising labor costs and dwindling resources, Healthureum offers an application that helps in population data tracking for improved disease screening. This gives practitioners, and patient share medical records form are central depository in a decentralized manner. The application brings together leading doctors from across the world to mitigate against the patient-doctor ratio which has been hindering the provision of high-quality healthcare, especially in the developing countries.

The platform brings together the private and public health facilities and practitioner in a bid to standardize all the processes through integrating the existing IT system to a central data point for ease of access. This is set to reduce the time it takes in doctor consulting and referrals which in turn reduces the cost of seeking treatment. When all the healthcare institutions are brought onboard the application, the patient will have access to the best industry expertise and the best care possible.

The ultimate Healthureum goal is to ensure all platform participants achieve more for less. When there is improved access, costs are drastically reduced; fewer resources are channeled to healthcare by patients, and the infrastructure and operational costs become affordable as well. Due to the increases internet penetration into the remotest parts of the world, patients and doctors are able to share information thus cutting down the cost of travel for consultation, medication, and referrals.

Patients and other healthcare stakeholders are budget conscious, and collaboration is critical to ensuring that fraud and information manipulation is a thing of the past. Once health institutions, suppliers and health insurance providers are brought together in a decentralized platform, monitoring of transactions and processes becomes transparent. This locks out middlemen who make healthcare processes expensive, a cost that is passed to the desperate and unsuspecting patient.

The Healthureum platform stores healthcare data in a centralized system, the EHR that can be easily customized depending on user preference. This enables seamless healthcare record sharing between affiliate systems. This interoperability allows users free access to their records which can also be shared with researchers, regulators, and practitioners across the entire network. Any records stored are standardized and protects users from fraud and manipulation whilst guaranteeing security and privacy.

Healthureum uses a decentralized model and data storage is not restricted to a single entity. Every user is responsible for data integrity and security maintenance. This cuts the administrative cost since time stamp technology is applied in the event that record needs to be changed or added. Every time a new entry is added to the system, it is tracked and broadcast to all users for enhanced transparency and accountability.

The beauty of this innovative application is that it allows participants access up-to-date information in terms of prescriptions, test results, the scope of services rendered, diagnosis and amounts billed. As a user, you have the ability to view, share and edit your healthcare records and the records are broadcast across the network in real time. These help patients spend less time seeking treatment and traveling abroad to seek specialized care.

Once there is a significant transition from the current resource-intensive processes in the healthcare sector to the innovative blockchain oriented systems, the cost of medical care will significantly go down. However, the rate of adoption remains a challenge; efforts are being put in place to create awareness of the benefits of adopting the Healthureum application.
Patient data is inherently sensitive and with Healthureum guarantees authentic patient identification and consent whilst providing service provider authenticity. This is a protective feature that eradicates billing fraud and manipulation of claims. All these bring down the overall cost of healthcare and allows for peer-to-peer transparency and accountability.