Patientory and UK-based IrisGuard announced a collaboration to combine leading iris biometric technology and healthcare focused PTOYNet blockchain network for enhanced security measures. The HIPAA-compliant Patientory App, which already adheres to strict security requirements, will utilize the benefits of iris-recognition software to add another layer of authorization on the blockchain to help eliminate healthcare inefficiencies.
Terms of the deal were not disclosed.
IrisGuard’s proprietary EyePay mobile technology has been used by the United Nations Agencies, for preventing human trafficking by registering refugees and orphans through the High Commissioner for Refugees (UNHCR), and for the World Food Programme (WFP) providing iris-based registration and e-payment solutions to increase financial inclusion to millions of forcibly displaced refugees in the Middle-East.
Because EyePay Phone is blockchain-ready to authenticate and authorize patient identification and information in under 3 seconds, there’s great potential to expand the technology into healthcare on the Patientory software, which is powered by the PTOYNet blockchain.
“Patient identification is a growing problem in today’s healthcare system,” Chrissa McFarlane, CEO and founder of Patientory, said in a company news release. “This technology can help providers identify an individual with unparalleled accuracy, through iris-recognition and data matching. And because it’s verified on the blockchain, it’s scalable without sacrificing data security – which is one of the main problems with our current healthcare-data infrastructure.”
According to statistics cited by Pew Research Center, up to 20% of patient records are not matched accurately within the same healthcare system, driving up costs, creating inefficiency, and risking patient safety.
Iris recognition can reduce the amount of fraud and abuse occurring within the pharmaceutical and insurance industries by ensuring patients are who they say they are. Coupled with a blockchain network, data management such as keeping a detailed log of information, patient histories, prescriptions and transactions will be more efficient and streamlined. Patientory plans to roll out the technology first in pharmaceutical clinical trials this year.
“The innovative iris enabled EyePay Phone significantly improves patient privacy and confidence when sharing their online Electronic Medical Records (EMR) with healthcare stakeholders (i.e. physicians, hospitals, insurance companies, pharmacies and government etc.). The EyePay Phone and PTOYNet proactively enhances patient’s peace of mind knowing that healthcare providers are deploying the most accurate biometric/blockchain identification technology available today in an effort to ensure efficiencies of scale, privacy and trust in the healthcare authentication and authorization processes. This is particularly important given that one out of three Americans had their health care data stolen or hacked recently,” Mr. Imad Malhas, CEO IrisGuard UK, said in the news release.