Apotheka Systems Inc. announced they have been awarded a critical Patent “Methods, Systems, and Storage Media For Managing Patient Information Using a Blockchain Network” by the U.S. Patent and Trademark Office (“USPTO”) U.S. Patent No. 10,885,170 issued on January 5th, 2021.
This marks another milestone in the Healthcare industry by making Apotheka’s Blockchain technology an integral part of patient data management in era of increased challenges around security, identification and integrity.
Apotheka’s patent facilitates capturing key patient identification data points like name, date of birth, social security number to include biometric information like fingerprints, iris scans and combines them to create unique encryption and master in turn creating hash confidentiality, integrity, and authenticity on the Blockchain.
The propriety technology uses Blockchain to validate patient identity using a unique six way match validation algorithm as an integral part of patients Biometric points and Protected Health Information (PHI).
Apotheka’s target clients and integration points include hospitals, clinics, physician groups, health insurances, ACOs, supply chain, biotech, research, clearing houses, Health Information Exchanges (HIEs), among others.
Our use cases include Patient Global IDs and Patient Validation (Six Way on Blockchain); Claims Adjudication (Revenue Cycle); Security and Encryption; Interoperability – APIs / Data Integration and Physician Credentialing.
INDUSTRY OUTLOOK: The Blockchain market in healthcare was valued at USD 2.12 billion in 2020, and is expected to reach USD 3.49 billion by 2026. In its current form and looking at one of the pain points, the healthcare industry continues to be plagued by data breaches involving sensitive patient information, with public reports of hacking and phishing incidents, reminding how vulnerable the patient data remains. According to the Breach Barometer report over 40 million patient records were breached in 2020 and in addition Covid-19 cyberattacks spiked by 400 percent during the pandemic based on FBI data.
About APOTHEKA SYSTEMS INC.
Apotheka Systems Inc. headquartered in Los Angeles, CA is a SaaS company that is leveraging Blockchain and AI technologies to build new age digital health solutions to elevate patient care experience in any given healthcare setting throughout their patient journey. For more information about Apotheka systems inc., visit its website at www.apotheka.co
SOURCE Apotheka Systems Inc.