Pharma Blockchain Bootcamp was an attempt to summarize ideas by various Pharmaceutical and data management companies over the uses of blockchain technology. Much of the technology is still new and not fully understood by the industry. The conference (sponsored by DisruptiveRx) started with an outline of what blockchain technology is and where it has been successful.
Problem and Solution
Organized around the idea of patient centered control, blockchain technology is seen (by some) as a way for individuals to control their own healthcare needs by having their medical data stored digitally. This solves the problem of paper records being mailed to and from hospitals and the possibility of loss and wait time. Companies like Factom Inc. created a biometric id verification for patient recognition that ensures privacy for the individual (another big problem with paper records).
The technology could have applications for meeting the Drug Supply Chain Security Act of 2013 according to Dr. Gilot (a speaker) of Blockchain Health. The idea is to track the drug from manufacture to purchase passing every regulatory hurdle and signature through the process. Having a software like blockchain that the industry agrees to share data through could make regulatory burdens much easier. Most of the proposals require the health care industry to sign on to the idea of digital records for patients.
The conference was the first of its kind for the Pharmaceutical Industry that focused exclusively on blockchain technology. Ideas for Pharma applications and web security companies are working on future trends for the health care industry. Understanding blockchain will be important when the new US Congress convenes in January and decides what to do about the Affordable Care Act.
Review conference details: DisruptiveRx – PHARMA BLOCKCHAIN BOOTCAMP