Blockchain (in Healthcare)….it it a craze?

Dr Michael Costello

GM Innovation, Strategy and Gateway Services

FOR OFFICIAL USE ONLY30/07/2018

Twitter: @Costello_M_Dr

LinkedIn: www.linkedin.com/in/michaelcostello1

Everybody is Talking About Blockchain

Is Blockchain a Craze?

CRAZE‘…an enthusiasm for a particular activity or object which appears

suddenly and achieves widespread popularity….is short-lived …’

Oxford Dictionaries @ Oxford University Press

What drives a Craze?

Simple (but

complex)

Stretching the

envelope

One Size Fits all

Prescriptive In tune with the

Zeitgeist

Legitimised by

Guru’s

Falsely

Encouraging

Novel, not Radical Easy to Cut and

Paste

• ‘…as a result of the behaviour being perceived as

popular by one's peers or being deemed "cool" by

social or other media / outlets…’

• Common Characteristics

What drives a Craze? (con’t)

Consensus 2018: Joe Lubin and Jimmy Song made a bet about the future of blockchain tech

The details of the bet -- which the pair shook on -- are still to be worked out, it seems, but Song should probably note that Lubin is worth between $1 billion and $5 billion, according to Forbes.

Competition…..

Belt and Road….

Social and International Challenges

Jane Thomason, CEO

Issue Challenge Blockchain Opportunity

Identity 1.5 Billion people are unable to

prove their identity

Prerequisite for financial inclusion and access to

services

Financial Inclusion Unbanked to not have access to

financial services

Digital Currencies and roll out of mobile money

systems would provide widespread access to

financial services

Lands and Assets

Registration

Unable to convert land to value

as insufficient records exist

People would be able to borrow to improve their

livelihoods and an immutable record means that

ownership is unambiguous

Donor Payments Donor payments often use

expensive intermediaries to

combat corruption in order to

reach their intended recipients

Smart contracts through digital transactions ensure

funds reach intended recipients in a transparent

manner

Social and International Challenges

Jane Thomason, CEO

Issue Challenge Blockchain Opportunity

Agriculture Farmers don’t receive fair deal from

products and middle men slow supply

chain and increase price. Lack of

transparency in provenance.

Improve traceability, transparency and efficiency

across supply chain from farmers to markets.

Democracy Lack of trust in government and

electoral processes.

Improve speed, transparency and cost of electoral

processes and communication with citizens.

Green Energy Need to move from carbon fuels to

green energy.

Micro grid solar energy trading.

Health Inaccurate records, lack of capacity to

target the poor.

Direct health incentive payments (antenatal

attendance, specific treatment attendance,

immunization).

Where is Blockchain heading – supply chain, government and healthcare?

• Supply chain

• Recently in NY the CEO (and founder) of Fed Ex stated

‘…Blockchain has the potential to completely

revolutionize what's across the border…’

• It will allow organisations to extend trust into areas

they do not control

• In the US the FDA passed the Drug Supply Chain

Security Act (DSCSA)

• Logical outcome….store to bedside…EMR to supply

Where is Blockchain heading – supply chain, government and healthcare? (con’t)

• Government

• Power of blockchain is that it allows a party of multiples

not just one….

• Ability by which disparate systems can operate within

in a trusted environment

• Within government it is not a lack of trust…its

competing outcomes which which require the

blockchain

Where is Blockchain heading – supply chain, government and healthcare? (con’t)

• Hyperledger initiative

• Interoperability across all sectors

• Hyperledger formed the Healthcare Working Group

• Public Health Coin

• …. to use blockchain in the support of information management during /

on the spread of contagious diseases, with the expectation that blockchain

will give a powerful method to guarantee the data from a disease outbreak

reaches the required individuals so as to control the spread of the infection

as fast as possible …..

Opportunities for Blockchain in healthcare

1. Funding – insurers, providers and payers2. Interoperability – unlocking information in currently siloed EHRs without giving up

ownership and privacy3. Master data management – assuring the provenance and veracity of changes and

propagating these to all participants in the network e.g. registrations4. Online patient access – allowing patients to more easily, effectively and securely

gain access to their health records (chain points to an encrypted file off chain)5. Consent management – tracking consent and delegations of consent e.g. advance

care directive6. Supply chain e.g. for vaccine protecting provenance 7. Research – providing researchers access to patient data based on specific criteria

with patients being rewarded8. Credentialing – assuring the validity of credentials for providers and keeping track of

specialties and professional credits9. Longitudinal healthcare records – securely linking patient records across non-

affiliated provider organisations to improve care coordination

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What is occurring in Healthdirect Australia?

• Reviewed ‘is there a problem’ which blockchain could

solve?

• Recognised that Government would be interested…. but

baby steps

• Investigating blockchain and involvement in government

supply chain (specifically in the funding models)

Is Blockchain (in Healthcare) a Craze?

• My verdict….the coin implementations work….the jury is

out……

Questions

30/07/2018 FOR OFFICIAL USE ONLY