11) SimplyVital Health
Katherine Kuzmeskas, Founder, and CEO of the Connecticut-based company told Medium that “the company is tackling the inefficiencies around value-based care, which is the transition of our healthcare system from reimbursement for quantity to reimbursement for quality.”
Their product, ConnectingCare brings together providers from different medical organizations onto the same platform, where they can view the same data for shared patients. In addition, financial and clinical algorithms powered by artificial intelligence provide actionable strategic opportunities for all users. The platform powered by blockchain enables users to follow-up on patients as well as to bring down the cost and duration of care. It drives healthcare providers to work together so that reimbursement depends on their ability to prove they worked together. SimplyVital Health is also working on their second product, Health Nexus, a blockchain protocol safely adoptable by healthcare and the first blockchain protocol that is HIPAA (Health Insurance Portability and Accountability Act) compatible.
12) Blockpharma
The French startup uses blockchain-based technologies to help fight drug counterfeiting, which is a worldwide challenge. In many developing countries in Asia, Africa, and South America, counterfeit drugs comprise between 10 percent and 30 percent of the total medicines on sale. As Blockpharma mentions on its website, every year around 800,000 people die due to the consequences of taking counterfeit drugs.
The use of blockchain improves the drug traceability. Not to mention that it also allows the participants in the supply chain to interact easily and alerts the labs if fake drugs are detected. Blockpharma developed an app with which the origins of the purchased medication could immediately be controlled. Moreover, smart algorithms augment their technology – to be able to recognize more and more counterfeit drugs with the increase in the usage of the app and thus the utilized dataset.
If you know about other companies disrupting healthcare through blockchain, please let me know; as there are plenty of other ventures out there and the market is constantly and rapidly changing. Moreover, if you are curious about the top companies in other areas of medicine, check out my work on the top VR ventures, my article about robotics’ companies or my piece about those working with artificial intelligence!