The transactions that occur between patients, doctors, pharmacies, insurance companies and all other members of the healthcare community are very complex, and a blockchain network is able to coordinate these transactions much more efficiently than other types of networks. Now, offices and hospitals which could not previously communicate with each other, or share information, can do so easily and safely. A blockchain uses encrypted data, without the use of a central server, and the information stored on it is practically impossible to change or view without permission.
The key to the nextwork’s efficiency is the Smart Contract. There are many of these within the blockchain, and they control the flow of information through the network – when and where it should be sent and for how long it should be available. Systems using only a program and application require tremendous amounts of code, limiting the functionality and increasing the risk of errors. The use of Smart Contracts reduces the amount of code that needs to be written, which improves the speed and flexibility of the system.
With de-centralization, transactions are stored in multiple, identical copies on each node of the network, which could be a patient, doctor or any other participant. This data is encrypted, placed in unchangeable blocks and added to a continual chain based on the time and date the transaction occurred. However, only the record of the transaction, the information related to the passage of information through the network, is stored on the blockchain, not the data itself. The actual medical information transferred remains stored in the place it was created, such as the doctor’s office, hospital or pharmacy. No unauthorized person has access to your medical records.
Because multiple copies of the transaction are stored on many different computers, a person trying to steal that information would have to hack into the same exact block on every single computer it was stored, in a matter of minutes, in order to view the information within a closed block. Even if that were possible, the information that person would see would be a string of letters and numbers which could not be identified as your specific medical records.
Artificial intelligence (AI) represents another layer of the NovoPlexus network that can analyze the large amount of data collected through the network to better serve the people who are using it. For example, the network can learn a doctor’s preferences, so that the most relevant information is placed at the top when a large medical record file is sent over from another hospital. AI can also detect patterns in a person’s health and their utilization of healthcare, even before the person notices them, and can make appropriate suggestions. This is preventative medicine at its best!
Just like with your personal financial records, you are in total control of your healthcare information. The most important principle of this network is that you make the decisions about how your information is used, by indicating your preferences to the blockchain Smart Contracts. All your information that passes through the network is linked to your unique NovoPlexus blockchain ID, or digital wallet, which can also be used on other blockchain networks as well. You may want to give your regular doctor full access to your entire medical record at all times, but only grant your new fitness trainer access to blood pressure and heart rate data for the 3 months you will be working with him?
For an individual user, the program can be downloaded to your desktop, laptop or tablet. An application is also available so that you can access the NovoPlexus network from your phone. Logging into the program and application only requires a username and password. Once you are logged in, you will need your NovoPlexus blockchain ID to enjoy all the benefits and functions of the network and Healthcare Marketplace. We can store your blockchain ID for you, or you can choose to store it yourself, but it must be kept in a safe place. In the future, additional methods to keep this ID secure may include fingerprint, face and retina scanning.
No, you don’t have to change a thing in your office. You can continue to use the same computers and software you are currently using. With more complicated systems, such as the electronic medical record (EMR), we may have to work with you to establish the proper linkage with NovoPlexus. It’s important to note that, although the information moving through the network is extremely secure, the records in your office are still vulnerable to data breaches and proper firewalls and security software should be in place.
Tokens are representations of the value of a company, but do not actually represent part ownership of the company, like stocks do. In many of the financial blockchain networks, like Bitcoin, individuals on the network are assigned the job of verifying the movement of money between two other parties on the network, and receive tokens for doing this job. With NovoPlexus, if individuals had to verify the movement of every bit of healthcare information from one place to another, the network would move very slowly. Instead, the Smart Contracts do the work of deciding whether a transaction is valid or not.
It is possible that NovoPlexus may issue tokens in the future, when it is beneficial to the company and to the people using the network.
This is a common situation. Maybe you are in an Emergency Room at midnight and the doctor wants to see your last chest x-ray and some other records. Your internist’s office is closed, so what do you do? On our network, you log into NovoPlexus and, using your blockchain ID, you grant permission for a copy of the requested records to transfer from your internist’s server, through the NovoPlexus network and into the server connected to the ER doctor’s computer. These records will be viewable for 48 hours, based on your preference. For this entire transaction to be possible, you, your internist’s office and the ER doctor need to be connected to the NovoPlexus network. A record of what was transferred during this transaction is generated into a block, encrypted and time-stamped. A copy of this block is added in sequence to the end of the identical chain of blocks stored in the computer of each member of the network.
Because many of the interactions with pharmacies and insurance companies can be accomplished in real-time, your staff will not have to waste as much time on phone calls, copying records and faxing forms. This will make the office more efficient, and should also help save money. Using the matching application for appointments, your office can reduce empty slots in the schedule and assure that the types of patients coming into your office align well with your skills and practice patterns. The artificial intelligence component to NovoPlexus can also help spot areas of inefficiency and make suggestions on how to improve workflow.
Absolutely! It is very time consuming to call or travel from office to office, requesting price quotes from each doctor. For some offices, it can be hard to get a specific estimate, adding to the frustration. With the NovoPlexus matchmaking application, you can enter a request for the service, including some information about your child, how close you would like the office to be and even how much you wish to pay. On the same day, you will receive offers from several orthodontists who feel that they would be a good match for your child. You get convenience as well as price transparency.
True, but as we all saw with networks like Facebook, we also don’t always know what is happening to the tens of thousands of points of data we put there. When one group, such as advertisers or physicians, pay for access to a network, while others do not, there is an inherent imbalance of power. This can quickly lead to problems, where people utilize the network solely for their own benefit. We feel very strongly that in order for our Healthcare Marketplace to be a fair and sustainable destination, everyone who participates and enjoys the benefits should pay a small, equal monthly access fee.
We expect a tremendous variety of healthcare professionals and services on the network, which will expand in directions nobody might have anticipated. As science and medicine advances, people will continue to use their skills and imagination to search for better solutions to the problems we face in healthcare. We will work with those creative individuals to get their applications up and running on the network, with benefits to those applications which are successful. There may be an application in the future where people can request quotes from different insurance companies, and those companies will compete for their business by providing the most comprehensive health coverage at the best value.
Because the transactions across the network can occur in real-time between multiple parties, it’s possible to avoid the frustrating back and forth phone calls. With the help of a pharmacy application, when a medication is prescribed for a patient, the doctor can see if a requested pharmacy has that medication in stock, and even how much the patient will pay out of pocket. Everyone is on the same page, and if the patient gives the approval, the medication can be ordered, paid for on the spot and delivered right to the patient’s home. This saves the patient from being stuck in a pharmacy without the medication, and it saves the pharmacist from having to track down the doctor and request another medication, or a less expensive one.
A White Paper is an authoritative report put out by a company, explaining their position and discussing why their solution to a particular problem is better than what is currently done. It is often used as a marketing tool as well. We will most likely publish one or more White Papers in the future, because we feel that we have a unique approach to the problems facing the healthcare industry. However, we realized that many people had similar questions, so rather than having them search through a 10-page paper, we would just list them all and provide concise and honest answers.