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MintHealth Launches Blockchain Powered Personalized Health Record

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On October 26th, MintHealth announced the launch of its blockchain-powered personalized health record (PHR). The company will incentivize patients’ usage of its platform by rewarding healthy behaviors with cryptocurrency tokens that patients can use toward their healthcare costs. While the company’s initial focus is on preventing and coping with chronic conditions, their larger vision is to help improve health outcomes and reduce healthcare costs globally.

minthealth logoThe MintHealth Personalized Health Record Platform

According to MintHealth, 90 percent of today’s healthcare costs address chronic health conditions, where they have focused their initial efforts. MintHealth’s platform addresses both patients that currently have chronic conditions, as well as those at risk of developing them.

The personalized health record

The MintHealth platform includes a “self-sovereign” personal health record (PHR) that patients will use to gain direct access to their healthcare data, while controlling others’ access to it. Patients can restrict or allow access by changing permissions in real time on the blockchain. This empowers patients, according to MintHealth, “to be the CEO of their own health.”

Secure, free-flowing health data

MintHealth emphasizes the importance of secure, blockchain-enabled “data liquidity” in their model. According to the healthcare startup, patients’ medical data is currently locked away in institutional silos. However, with the help of the MintHealth’s PHR, patients can take control of their health records while supplying providers and other healthcare stakeholders with the information they need to make more informed healthcare decisions.

Incentives: VIDA tokens

Just as car insurance companies often reward drivers that engage in safe driving behavior that help the drivers avoid accidents, MintHealth’s system will have participating health insurance providers, or payers, reward patients that engage in healthy behaviors that help patients avoid developing chronic health conditions (or complications associated with chronic conditions they already have).

Specifically, payers will reward patients with VIDA tokens, the MintHealth’s cryptocurrency, when they engage in particular, healthy behaviors and activities. The company refers to this process as “gamification” and hopes to make engaging in healthy activities fun for participating patients. According to MintHealth, patients can then use their VIDA tokens to pay for a variety of healthcare expenses, such as premiums and co-pays.

On the other side of the equation, the incentive for participating healthcare payers is an overall reduction in healthcare claims as their customers get healthier.

The MintHealth Team

MintHealth has a large team of professionals with extensive experience as both business leaders and healthcare providers. The company describes their founders as “a cross-section of healthcare ecosystem industry leaders.” The team has an emphasis at the executive level on health data management and “personalized healthcare.” 

CEO Dr. Samir Damani is the  founder of leading healthcare technology platform provider MD Revolution.

President Dr. Vishal Verma is the CEO of Nucleus Health, a leading health data management firm.

CIO Dr. Jean Balgrosky is the former CIO of two leading healthcare organizations: Scripps Health and Holy Cross Health System (later renamed Trinity Health System). She also founded Bootstrap Incubation LLC, which invested in startups in the life sciences.

Larger vision

The MintHealth team hopes to address the larger issue of rapidly rising global healthcare costs and poor health outcomes, especially in the U.S. In order to reverse these negative healthcare trends, MintHealth aims to help shift the industry toward greater sustainability and value-based care. The company maintains that rewarding patients for engaging in healthy activities, while giving them control over their own health record, will help make the transition possible.

As part of their mission to achieve improved patient outcomes, advocate for patient rights, and establish greater trust between all parties in the emerging healthcare ecosystem, the founders have also launched a non-profit organization: MintHealth Trust.