The importance of healthcare data
In the healthcare industry, all decision-making processes should follow a solid factual scheme. The collection and analysis of medical and scientific data leverage the healthcare sector to have a fast response to health trends, an accurate interpretation of what is happening on the ground, and take the right decisions that result in an effective solution.
In contrast to other industries, companies and public sectors in healthcare don’t have the luxury of trial and error in decision-making. Decisions should be sound and with minimal to no mistakes as it is sensitive and affects the well-being of people.
Healthcare systems leverage medical data to create advanced treatment approaches and personalized treatment guidelines. When the guidelines show more diverse options for different cases, doctors can choose the most appropriate treatment for a specific case, enhancing the treatment outcomes.
What is the problem with the current medical data collection?
1- Unorganized / Unstructured
The most obvious problem with medical data is that it is mainly hard to organize. Electronic Medical Records save extensive amounts of unstructured data that presents in unstandardized formats such as medical imaging, reports, diagnosis, and treatment. This untapped information often gets lost and is hard to find and organize after a long time, making it hard to collect big data from previous years for a specific research purpose.
2- Poor Data Security
Current medical data collection has a vast data security concern which exposes healthcare providers to considerable penalties from authorities. The reason behind this is the fact that data is collected and stored on computers and laptops with no tracking to digital security. Breaching patients’ data to third parties leave organizations with considerable fines.
The absence of data security also leads to exposing the personal information of the patients. Besides being unethical, the breachers could use the personal information for purposes that are not related to the medical research.
3- Undemocratic / Unfair distribution of profits
In developing countries, patients give their medical information to service providers and healthcare institutions without the awareness of its usage in medical research. Institutions and providers in developing countries bypass patients’ permission to use their data or don’t refer back to them to get consent in case of using the data for research purposes, leaving patients out of any profits generated by selling their data.
4- Lack Of Traceability
The current medical data collection system cannot track the data to its source. To make sure the data is not manipulated or changed, you should have a clear track of the data showing each milestone in which the data was collected or processed, following up to the source of the data. Any confidentiality in this track exposes the data to manipulation and weakens its credibility, which is the most valuable medical and scientific data asset.
DataXChange the first medical and scientific NFT marketplace.
Aimedis introduces the first medical and scientific NFT marketplace, offering a fair and secure way of acquiring and selling medical and scientific data for medical research and other purposes. Our NFT marketplace leverages data providers by providing them a sequence to productize and sell their data reasonably with pharmaceutical companies, healthcare institutions, and insurance companies.
The first DeFi case in the healthcare industry
Our medical and scientific NFT marketplace will allow a direct exchange of valuable goods represented in medical data from professional data providers with money from institutions in need for this data, paid in FIAT money or AIMx tokens. This exchange guarantees no intermediaries, as the whole process is driven by the blockchain and secured by smart contracts that show all the sequences and the commitments of the data exchange. Meaning the NFTs purchaser takes over the data exclusively, and the data source gets maximum profitability out of the sold NFTs.
What is the concept behind our medical and scientific NFTs?
Our medical and scientific NFTs are well-structured, credible, and traceable medical data collected by trusted healthcare providers. Smart contracts regulate a secure exchange on the blockchain for these NFTs, showing a transparent sequence of the data exchange and the commitment on each party, automatically executing the terms of contracts in any condition.
Who benefits from our medical and scientific NFTs?
First, patients around the world. (Indirectly)
Patients from all over the globe can benefit from our medical NFTs project. Patients could achieve this by cooperating with professional data providers while receiving their healthcare services from any service provider or institution. This means people can benefit from the data associated with their diagnosis and treatment processes and get profits after the data providers collect it and share it anonymously in the medical NFTs through the DataXChange marketplace. This is the first data collection model that ensures fair profit distribution. Patients will get profits by just receiving their medical service without directly participating in any programs.
Second, Contract Research Organizations and hospitals.
Medical data providers like research organizations can utilize the NFTs model to productize and share their data on our DataXChange marketplace. This could potentially generate considerable revenue, which helps these organizations continue their research contributions on the highest level.
Third, Pharmaceutical companies and insurance companies.
Pharmaceutical companies continuously need medical data to improve pharma products and make an optimal product-market fit decision for their launching products. While insurance companies inevitably need data about their target markets and their medical status. This makes our DataXChange NFT marketplace the perfect pool for them to find these vital need that keeps their business growth and helps them achieve business goals.
What makes our medical and scientific NFTs unique?
Highly credible data providers collect the medical data presented in the NFTs. You can always follow up on the data source and check the signatures of the medical doctors who approved the data when it was first issued.
The medical data present in the NFTs can’t be changed or manipulated. The blockchain protects data security from any breach or manipulation.
The medical data present in the NFTs have a clear track of its source. Making it easy to follow up on the source of the data.
4- Fair profitability
Smart contracts clarify how data providers and participants in data collections are getting paid for their data. Professional data providers can earn AIMX tokens to share their data with Aimedis. Professional data providers share their credible and structured data in medical NFTs. The profits generated from NFTs selling gets distributed to patients who were part of the data collection progress, ensuring a fair distribution of profits.
5- Predictability of price
We utilize the DataXChage marketplace database to know a predictable range for each category of medical data. This helps data providers set their budget for data collection to match it with the predicted price. We set clear, predictable price tags for each medical data category based on actual purchases from pharmaceutical and insurance companies to help data providers expect the return on the medical NFTs.
The medical data present in the NFTs are Anonymous. This means no actual names shared with the other parties and patients participating in the data collection have maximum confidentiality, and the anonymization always protects their personal information.