Emma Pham, Anna Cottone, Tailai Zhang, Scott Covington Medrec Cryptoventures Emma Pham, Anna Cottone, Tailai Zhang, Scott Covington 2/7/2017

$27B Electronic Medical/Health Records Market $27B market Source: https://www.kaloramainformation.com/EMR-Electronic-Medical-10009693/

Current State of Healthcare EMRs Provider maintains your data Today, patients have no control over their medical records and can wait up to 60 days to receive their records from providers Lack of Interoperability between providers The current lack of interoperability costs 150,000 lives and $18.6 billion per year2 2. http://www.healthcareitnews.com/news/data-sharing-initiative-reduces-deaths 3. http://arstechnica.com/security/2016/03/two-more-healthcare-networks-caught-up-in-outbreak-of-hospital-ransomware/ Insecure medical records Hospitals are facing increasing crypto-ransomware attacks3

What is MedRec? Prototype developed by MIT media lab Decentralized record management system for EMRs Uses blockchain technology to manage authentication, confidentiality, accountability, and data sharing 3 types of “smart contracts” on Ethereum blockchain Registrar Contract (RC) Summary Contract (SC) Patient-Provider Relationship Contract (PPR)

How does it work? Patient’s medical record is not be stored on the blockchain, instead data is “kept securely in providers’ existing data storage infrastructure.” Identity confirmation via public key cryptography Allows the use of already existing form of ID (e.g., SSN) Contracts contain metadata about the record ownership, permissions and data integrity

Business Model Paid in data, not currency Miners incentivized by census-level data Average Iron levels for 20-40 year old males Enables greater clarity in research Not driven by data power Large agencies (CDC, NIH) are incentivized as are small, individual researchers Not for monetary profit

What are the benefits? Decentralized, single interface to allow patients to choose when/whom they share their data Fast access to data for patients Interoperability between healthcare providers – integrates with existing medical data storage infrastructure Integrates personal health/fitness data (Fitbit, 23andMe, Apple HealthKit)

Next Steps From big idea to practical application Aside from all risks associated with blockchain technology…(ex: bad actors, education) High implementation barriers Medical records are invaluable assets to hospital institutions, payers, etc. EMR is still ‘new’ technology Evolving health care ecosystem Alignment of incentives The best case scenario: major health systems + payers + set of ready-to-engage patients all come together to collaborate MEDREC Prototype Additional research User testings Partner with local health care institution

Acknowledgements & Sources MedRec created by Ariel Ekblaw, Asaf Azaria, Thiago Vieira, Joe Paradiso, Andrew Lippman https://www.pubpub.org/pub/medrec