With the Covid-19 pandemic, blockchain use cases in healthcare have rapidly emerged. An example of this are digital health passports which have seen a rapid ascension from idea to real high demand product.
Here at Gokhshtein Media, we had the opportunity to speak with Chrissa McFarlane, CEO of Patientory, a health data management and analytics company which democratizes individual ownership of the world’s health data and incentives to improve health outcomes.
The Patientory mobile app and enterprise software tool Neith provides patients with ownership, insights, and intelligence around their healthcare data. This is achieved through the integration of a blockchain enabled network that gathers and analyzes siloed healthcare data, including daily lifestyle metrics, and in turn, reduces the cost of care.
Here’s what McFarlane had to share:
Can you tell us little about your background and how you got involved in blockchain space?
Sure. I founded Patientory after working more than a decade in the healthcare technology industry and realizing there was a need for more personalized, secure and consumer-driven health information management solutions. From conducting microbiology research to pharmaceutical operations consulting, and working with health insurance providers and hospitals, I accumulated professional experience in an array of sectors in the healthcare technology industry and learned about blockchain.
You launched Patientory in 2015 to address significant issues that patients were facing with their health information. Where are you in terms of the evolution of your company and what have you learned over the past five years?
We have seen the challenges to adoption of blockchain in the healthcare space but we have forged ahead as pioneers as bringing this innovation to healthcare. We have a global association that hosts an annual BlockHealth Summit in Dubai that highlights innovative use cases for blockchain in healthcare. Specifically, for Patientory, we were able to prove our use case of blockchain in fighting the COVID-19 pandemic by helping companies such as Moderna recruit and find underrepresented individuals for the vaccine trials.
There has been a lot of talk about health information data breaches and the role of blockchain in helping to address these issues. Can you talk a little about what sort of solutions are emerging in this space?
Patientory! We have seen many solutions try to tackle this (especially Palantir) – but we do see digital ledger technology as a solution to this problem.
The Covid-19 pandemic has among other things exposed glaring health disparity gaps around race in our nation. How do you believe that blockchain-centric digital solutions can advance new innovations around this prevailing issue?
We improve the democratization of data, which in turn improves access and overall care in under-served groups. Our solutions integrate the social determinants of health into the care continuum, ensuring that every patient receives equitable care.
You are also busy addressing issues pertaining to minority women entrepreneurship. What’s currently happening in that space at present? And what is your greatest hope moving forward?
At this time, there is a greater push for more women and minority-lead companies in tech as well as leadership in Fortune 500 companies. According to USA TODAY and the ProjectDiane research report companies founded by Black women raised about $700 million in funding from 2018-2019, a major surge from the previous two-year period. This has helped to bring awareness to this issue as minority women receive less than 1% of VC funding. My hope is to see numbers increase and that we will see more successful minority women leaders.