What do doctors spend the majority of their time working on? Answer: Documentation, otherwise known as paperwork.
“That’s one thing they don’t tell you in medical school,” he says with a grin. “The amount of paperwork that’s involved!”
Of course, in the 21st century, papers aren’t as involved in the process as computers. But that’s not entirely the case, especially for physicians that are set in their ways.
“When the electronic medical record was implemented, a lot of doctors struggled with it,” said Dr. Ilyes. “They comply with the requirement, but in many cases haven’t learned how to make technology work for them. That’s very detrimental to their efficiency and ultimately for their patients.”
The pain felt by patients by this situation can be serious.
In the floods that came with Hurricane Harvey, some Houston area doctors lost a major portion of their patients’ medical records, which were still in paper form. That loss hurts the ability for doctors to accurately diagnose.
“The treatments can’t really be the same for different people,” Dr. Ilyes says. “Every situation is different and medical records are crucial to knowing and tracking those differences.”
Giving patients control over their own medical records enables them to keep their records safe, taking a major burden off of doctors in the process.
“I am excited by the prospect of having easy access to my patient’s medical records, the possibility of talking to an artifically intelligent chat bot instead of having to write them down and keep them safe,” said Dr. Ilyes. “I could then focus more on patient care and less on the paperwork.”
Making the process easier speeds it up, enabling doctors to see more patients and earn more money.
Dr. Ilyes thinks of it differently.
“The more patients I can see, the cheaper my costs per patient could be,” he said. “That’s a virtuous cycle which could really benefit everyone I work with.”
Besides securing medical records for patients, the CareX Platform also serves as a marketplace for doctors to get new patients.
“That is one of the great pain points for medical providers, sourcing new patients,” explains CareX Blockchain Platform CEO Mike Bishop. “Many just give up entirely by joining big networks that bring the traffic to them, but this limits their income and puts a strain on their costs.”
By being able to see what a doctor charges anywhere in the country for a given procedure is a form of free advertisement bringing traffic from around the world.
“Of course my practice would love to see more medical tourism patients who pay upfront,” said Dr. Ilyes. “It would transform our business for the better.”
Accepting CARE tokens also enables providers to diversify their assets, which can be converted into cash at any time on cryptocurrency exchanges or by CareX itself.
Dr. Ilyes is excited to start using the CARE Tokens.
“For a while I’ve been watching Bitcoin and the others — it’s certainly a very new world and a new way to do things, but I don’t think it will be difficult for more and more people to catch on to the concepts,” he said.
“If you think about it, we use tokens all the time — be it points at a grocery store, airline miles or hotel points to travel. It’s almost amazing nobody has done this for healthcare yet,” said Bishop.
Providers are already signing up for the new Platform. By February, CareX will have several providers around the country accepting token payments.
Providers can begin signing up to join the network here.
Patients can sign up for the platform by making a CARE Wallet account here.
Learn more about the CareX Blockchain Platform at https://carex.tech