By: Victor Ochieng
Teledactyl was founded by Alan Bottorff who’s now its CEO. It is the first healthcare facility in the U.S. to have a blockchain-based healthcare ecosystem.
For starters, a blockchain refers to a digital ledger with the capacity to store information. Its advantage is that it allows data to be distributed but not copied making it a secure means for financial transactions.
Teledactyl is now having its own cryptocurrency payment system which is highly effective when it comes to eliminating the potential compromise of sensitive information and also to ensure data integrity.
The company is on a mission to optimize and restore patient-provider relationships. Says Alan Bottorff, “The advent of blockchain technology has been all the buzz in the realm of healthcare IT and is proving to be much more than the backbone of encrypted, anonymous electronic fund transfers.”
Blockchain is known for its encrypted data transfer, immutable record keeping and security and now Teledactyl is taking advantage of these features with an aim of improving the flow of healthcare patient information so as to eradicate inefficiencies in the current healthcare system.
Dr Seth Crapp says: “The United States healthcare system is in dire need of an efficient method to preserve and protect personal health information, reduce healthcare costs, increase provider access and improve methods of payment– all while bettering patient outcomes. We want to eliminate the discrepancies in our healthcare system that disrupts patient and provider relationships. Everyone should have immediate access to their health records. Teledactyl isn’t going to wait for a healthcare revolution. We’re going to start one.” Dr Seth is the Co-Founder & Chief Medical Officer at Teledactyl.
The company will create digitized personal health records for its users that they will be able to share with healthcare providers. The advantage of this system is that any data that is deleted, changed or added by a health professional will automatically be reflected in the user’s blockchain. This will provide the much needed transparency and security in an industry that’s always susceptible to data breaches.
Blockchain allows patients to access/view their personal health records without having to contact or to travel to their doctor’s office.
The Teledactyl team believes the problem lies greatly in the redundancy, broken communication and the bureaucratic tendency that continue to plague the current healthcare system. The team is made up of a energetic group of professionals from finance, technology and healthcare industries. It also has experts in cryptocurrency drawn from top institutions such as Vanderbilt, Duke, Harvard and UPenn.