Written by Brandon Lee, originally published on KrASIA
A single hospital visit can generate a lot of paperwork, including medical records, prescriptions, invoices, and more. These printouts are often not organized well, and patients or their caretakers need to keep track of them in case they're needed in the future. While there are solutions that digitize these records and offer access through online portals, Indonesia-based startup Carevo is taking it a step further to utilize blockchain technology to store them.
By the nature of blockchain technology, the records stored by Carevo are immutable. Carevo operates on a private blockchain using proof-of-authority, an algorithm that delivers consensus based on the identity and reputation of validators. Only individuals who are approved to join the network can write data to the chain. This data is anonymized and encrypted, so no other entities are able to access it unless they have the permission of its owner.
This means each Carevo user can access and present their medical history to medical professionals when needed.
Carevo's service solves a crucial problem in Indonesia's healthcare sector. With no centralized medical record database in Indonesia, it can be difficult to aggregate information about a patient's medical history. Individuals are often required to file requests for health records and retrieve hard copies. The delays brought on by the wait to track a patient's medical history can exacerbate their condition and lead to elevated treatment costs, according to Fernando Wangsa, CEO of Carevo.
On a broader scale, the centralization of medical data on a single blockchain has another advantage—it can offer a quick overview of the entire country's medical situation. For example, during the onset of a viral outbreak, multiple clinics and hospitals may be responding to the same crisis. If all of the data is gathered by Carevo, which then offers access to the information, this may lead to a more robust, timely response.
To address these problems, Carevo adopts a patient-centric approach for its storage of personal health records. Specifically, Carevo gives patients the ability to access their own medical data at any time without relying on an external establishment. This means patients or their caretakers can present this information at hospitals or clinics, and their medical providers can offer diagnoses and treatment by referencing the most recent logs.
Until now, this centralization of patient data and the capability for any individual to present this information to medical specialists has been absent in Indonesia. Carevo monetizes this service in two ways. The first is a subscription model for individuals and businesses' healthcare coverage for employees. The second is a software-as-a-service (SaaS) telehealth platform for medical establishments to connect their medical professionals with patients who need consultations.
To date, Carevo has formed successful partnerships with a handful of organizations. It manages personal health records for more than 7,000 employees at Honda Prospect Motor, and its telehealth platform is already being utilized by Rumah Sakit Azra Bogor, an award-winning hospital established in West Java. Carevo has also engaged communities, such as autoimmune disease support group Komunitas AutoImun Indonesia and child cancer foundation Yayasan Kanker Anak Indonesia, to provide medical record tracking to their members.
Moving forward, Carevo plans to form even more partnerships as it advocates for a higher degree of control over one's own healthcare. The company aims to live up to its name—a portmanteau of "healthcare" and "revolution."
Carevo was among the finalists of the Alibaba Cloud x KrASIA Global Startup Accelerator Vietnam-Indonesia Demo Day that was held on February 10.
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