MedChain is proud to be presenting our Regulation D offering on RedCrow for accredited investors, a platform focused on healthcare startups!
As you all know MedChain is bringing health record storage into the 21st century. Traditionally, patients’ medical records are siloed in various centralized data centers. “This means a lack of interoperability between systems,” explains our Chief Technology Officer, Steve Wishstar. “Physicians essentially have to start their patient’s entire history all over. Even if a record transfer is requested, it is reported that as many as fifty percent of patient records are mismatched during the data transfer process.”
That’s where MedChain steps in. The MedChain Network offers a globally compliant, secure blockchain storage solution for protected health information. “Each patient has a wealth of health data distributed across all of the care providers they have ever seen," Wishstar says. "With the adoption of MedChain, patients’ health records are reunited, and the physician has access to a complete history upon the first visit. Authorized hospitals, doctors, laboratories, pharmacists, and other medical professionals will be able to easily transfer data amongst themselves, and MedChain keeps track of where everything is stored and logs each and every access to that data.”
Wishstar also adds: “With data breaches costing the healthcare industry $6.2 billion per year, MedChain's application of blockchain technology minimizes the exposure of ePHI. With the recent surge of data breaches affecting hospitals world wide, MedChain technology can alleviate data concerns.” “This solution is more convenient and more secure. All aspects of healthcare rely on medical records, including how MedChain will assist with AI and machine learning on population analyses. We are improving the records themselves — we’re bettering healthcare at its source.”
MedChain is Democratizing data storage. “We understand that the current data silos do not want to give up their data — they make money monopolizing it,” Wishstar says. That’s why, he adds, MedChain recognizes itself in RedCrow’s mission to disrupt healthcare in the name of the patient: “We’re creating and incentivizing a common layer of data where everyone has access. MedChain puts the medical records back into the hands of the patient and the providers who need it, and not locked away in some corporation’s database.”
Follow us as we get ready to launch our next offering at RedCrow.