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Healthcare Industry Leads In Blockchain Deployment

Posted on January 19, 2017 I Written By

Anne Zieger is a healthcare journalist who has written about the industry for 30 years. Her work has appeared in all of the leading healthcare industry publications, and she's served as editor in chief of several healthcare B2B sites.

A new study by Deloitte concludes that healthcare and life sciences companies stand out as planning the most aggressive blockchain deployments of any industry. That being said, healthcare leaders are far from alone in paying close attention to blockchain, which seems to be coming into its own as corporate technology.

According to Deloitte, 39% of senior executives at large US companies had little or no knowledge of blockchain technology, but the other 61% reported their blockchain knowledge level as broad to expert. The execs who were well-informed about blockchain told Deloitte that it would be crucial for both their company and industry. In fact, 55% of the knowledgeable group said their company would be at a competitive disadvantage if they failed to adopt blockchain, and 42% believed it would disrupt their industry.

Given this level of enthusiasm, it’s not surprising that respondents have begun to invest in blockchain internally. Twenty-eight percent of respondents said their company had invested $5 million of more in blockchain tech to date, and 10% reported investing $10 million or more. Not only that,  25% of respondents expected to invest more than $5 million in blockchain technology this year.

While the level of blockchain interest seems to be pronounced across industries studied by Deloitte, healthcare and life science companies lead the pack when it came to deployment, with 35% of industry respondents saying that their company expects to put blockchain into production during 2017.

All that being said, aggressive deployment may or may not be a good thing just yet. According to research by cloud-based blockchain company Tierion, the majority of blockchain technology isn’t ready for deployment, though worthwhile experiments are underway.

Tierion argues that analysts and professional experts are overselling blockchain, and that most of blockchain technology is experimental and untested. Not only that, its research concludes that at least one healthcare application – giving patients the ability to manage their health data – is rather risky, as blockchain security is shaky.

It seems clear that health IT leaders will continue to explore blockchain options, given its tantalizing potential for sharing data securely and flexibly. And as the flurry of interest around ONC’s blockchain research challenge demonstrates, many industry thought leaders take this technology seriously. If the winning submissions are any indication, blockchain may support new approaches to health data interoperability, claims processing, medical records, physician-patient data sharing, data security, HIEs and even the growth of accountable care.

If nothing else, 2017 should see the development of some new and interesting healthcare blockchain applications, and probably the investment of record new amounts of capital to build them. In other words, whether blockchain is mature enough for real time deployment or not, it’s likely to offer an intriguing show.

Telemedicine A Critical New Approach To Primary Care

Posted on August 15, 2014 I Written By

Anne Zieger is a healthcare journalist who has written about the industry for 30 years. Her work has appeared in all of the leading healthcare industry publications, and she's served as editor in chief of several healthcare B2B sites.

Telemedical treatment has been a tantalizing possibility for many years, for reasons including a failure of health plans to pay for it and too little bandwidth to support it, but those reasons are quickly being trumped by the need for quick, cheap, convenient care.

In fact, according to research by Deloitte, 75 million of 600 million appointments with general practitioners will be via telemedicine channels this year alone.

While one might assume that this influx is coming from traditional primary care practices which are finding their way online, that doesn’t seem to be the case.

Instead,a growing number of entrepreneurial startups are delivering primary care via smart phone and tablet, including Doctor on Demand and HealthTap, which offers videoconferences with PCPs, and options like Healthcare Magic and JustAnswer, which offer consumers the opportunity to get written responses to their healthcare queries from doctors.

Primary care doctors going into direct primary care are also joining the primary care telemedicine revolution; a key part of their business is based on making themselves available for consultation through all channels, including Skype/Facetime/Google Hangout meetings.

To date, most of the thinking about telemedicine have been that it’s an add-on service which is far to one side of the standard provision of primary care. However,with so many consumers paying out of pocket for primary care — and virtual visits typically priced far more cheaply than on-site visits — we may see a new paradigm emerge in which victims of  high-deductible plans and the uninsured rely completely on telemedical PCPs.

Rather than being merely a new technical development, I believe that the delivery of primary care via telemedical channels is a new form of ongoing primary care delivery.

It will take some work on the part of the telemedicine companies to sustain long-term relationships with patients, notably the use of an EMR to track ongoing care. And telemedicine PCPs will need to develop new approaches to working with other providers smoothly, as coordination of care will remain important. Health IT companies would be wise to consider robust, unified platforms that allow all of this to happen smoothly.

Regardless, the bottom line is that primary care telemedicine isn’t an intriguing sideline, it’s the birth of a new way to think about financing and delivery of care. Let’s see if traditional providers jump in, or if they let the agile new virtual PCP companies take over.