Proof Work is an Israel based technology company, founded on May 2017. Their vision is decentralized Healthcare data using technology. They are looking to leverage blockchain to bring in patient-centricity in the healthcare ecosystem. David Suter and Guy Aharonovsky are the co-founders.
Proof Work’s announcement from Berlin:
On 4th December 2017, David Suter presented their plan to build two tools, at the Disrupt Berlin Start-up Battlefield . One will enable the healthcare companies to put their apps and services on blockchain. The other tool will likely be a mobile app. It will allow patients to upload their own medical data. This is also powered by blockchain.
Proof Work aims to bring patient-centricity in the healthcare systems:
Current healthcare system has a significant gap, as far as the patients are concerned. Only doctors and hospitals can access patient’s medical record. Patients need to make special request, if they want a copy of their own medical record.
Patients also lack decision-making ability about what happens to their medical record. The doctors ask patients to sign agreement, allowing the doctors to share their medical data. This agreement may also allow the healthcare companies to sell anonymized medical data to pharmaceutical companies.
The current system does not serve the doctors that well, either. They can’t share the data with the other doctors. When a patient visits a new doctor, he or she needs to explain current illness to the new doctor, and repeat the entire medical history.
Proof Work’s planned offering will allow the patient to carry all of their medical records on their phone when they visit a doctor.
This will also enable the patients to contribute their data towards medical research, or sell it, through transparent transitions.
Proof Work is alive to the potential challenges in this transformation:
There were earlier attempts at bringing in greater patient-centricity in the healthcare system, using technology. Other players had tried to centralize medical records for easier access. Microsoft HealthVault was an example.
However, the healthcare companies weren’t interested in enabling patients to easily access their own medical records. Suter explains, that the companies thought that patients could easily switch provider, if they have easy access to their own medical records. This was a key challenge in getting the prior efforts to bear fruit.
Suter is aware that the transformation will be an uphill challenge, but is certain that bringing in patient-centricity is the right goal to pursue.
Suter thinks that the healthcare companies will participate in the planned system willingly. This is because the companies will have access to more data, which they are always looking for. This is because the users of Proof Work’s system can choose to sell and share data with the companies. They will be paid for such transactions in Proof Work’s coin.
Proof Work’s concrete plans:
The company first plans to launch a mobile app focused on non-adherence. This means that the app will remind users to take their prescribed medication, through push notifications.
Proof Work is planning an ICO in six months. This is to create their own coin, which will allow the users to trade their data. Insurance companies will get more data, and by offering to pay the users with Proof Work’s coin, the companies will incentivize the patients to take their medications.
The longer term plan to monetize this model consists of taking a small percentage of the transactions in Proof Work’s platform, whether they are data transfers, or incentives.
Proof Work could potentially bring in large transformation:
The ambitious plan intends to put the patient right at the centre of the healthcare ecosystem. Suter is clear about the magnitude of the transformation: “It’s a big undertaking; it’s not going to happen overnight.” Watch Proof Work’s progress in the coming months. It’s worth watching