Pharmeum

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Pharmeum is the world’s first Blockchain solution to transfer digital prescriptions and medical data, which can be used to purchase medication. Pharmeum is an award-winning, internationally recognised project, with a working product adopted and existing market traction, and currently working alongside the National Health Service (NHS) in the UK.

The innovative Blockchain medical platform will improve medicine affordability, minimise errors, and create frictionless, quality care for patients. Empowering patients’ ownership of their medication history, and enabling affordable access to healthcare globally. Medical errors and late diagnoses are minimised by using a permissioned blockchain integrated with artificial intelligence.

Pharmeum was chosen as a finalist for innovator of the year by Health Investor awards 2019 - a first for a Blockchain project to accomplish. Pharmeum is the world’s first Blockchain and AI solution to the Healthcare and Pharmacy industry - placing an $872 Billion-dollar industry on the Blockchain.

The purpose of Pharmeum is to enable affordable access to Healthcare globally, all simply through a smartphone. Pharmeum was chosen as a regional finalist in Dubai’s World Blockchain Summit, and also awarded a credibility badge by Crypto Potential.

Problem

Rapidly Increasing Medical Costs

The growing costs of medicine and treatment has been well acknowledged to be the biggest problem for patients in the healthcare industry today. Without a patient‐based platform for users to evaluate their options, and be digitally in control of their treatment, it’s unlikely that affordability will improve.

Inefficient Transfers

The current traditional, centralized, siloed data structures in place have multiple barriers, as well as friction involved in the transfer of data. This leads to a patient, having to waste time on exhausting steps such as waiting in lines, and chasing repeat prescriptions.

Accessibility to Healthcare Globally

There is a lack of interoperability of medical data and prescriptions. Medical data and prescription information that can be recognised as genuine is different in every region. This is due to the multiple different formats of data that are used within the centralised infrastructures.

Fatal Medical Errors

The incidence of life‐threatening consequences due to errors are excessively high and many cause deaths that can be prevented. Errors arise from different sources, due to an error‐prone, unsophisticated system, coupled with an unusually high dependency on one doctor. The ability for patients, to smoothly allow any healthcare professional to instantly, and digitally offer medical advice/review their treatment, is an urgent necessity.

Late Diagnosis of Conditions

The early detection and diagnosis of conditions is solely reliant on a healthcare professional to not make an error, and for them to analyze all your medical history accurately. Unfortunately, doctors are prone to errors, just like any human, and due to the overload of work they’re responsible for, it’s hard for them to offer preferential care.

Burdening Healthcare Budgets

The excessive funding for administrative costs is required in the current system due to the complicated audit trail, and paper‐based processes. This development of the healthcare system will not only reduce misused labour, it will minimise misdirected expenses, and help direct funding in areas which are desperately needed, such as the discovery of new medicines, and increasing the number of trained doctors.

Security of your Data

The protection of confidential patient data has been a substantial problem over the recent years. Today, medical data has been estimated to be even more valuable than credit card details and social security information.

Solution

Pharmeum’s cutting‐edge health platform efficiently streamlines the communication and trust between patients, doctors, and pharmacies. Pharmeum will be using a private, permissioned Blockchain to create a compliant, secure, private health network. The patient has the absolute ability to decide who they wish to share their information with, they are in complete control. Patients will be able to share their account with their doctor of choice through encrypted private channels. The doctor, who will have user ID access, can digitally sign and add tamper‐proof medical information (e.g. Prescriptions) to the patient’s ledger. The patients account records all their interactions with doctors in an immutable log, along with their core medical information (such as Blood Type). Patients will be able to see a selection of nearby pharmacies, and make their decision based on proximity, price of medication, and delivery services.

The patient benefits from a far more private, affordable, and digital system, ensuring that they are receiving the best healthcare at the fairest price. Patients will be able to access their medical information to receive healthcare globally, simply through the click of a button, because both doctors and pharmacies can recognize the information to be unalterable and genuine. The entire patient’s medication history will run over an intelligent neural network.

Pharmeum will be using fuzzy logic (AI) algorithms to analyse patterns in a patient’s health development. This innovative solution will create an artificial, focused track of your health development, identifying serious medical irregularities in your data at an earlier stage. It uses a constantly developing algorithm that tracks the progress of a patient’s health and will be able to identify unusual medical errors before it’s too late. This AI algorithm can be used by patients themselves, or by clinics/hospitals who can implement it on behalf of all their patients.

By digitising many of the current admin‐based work carried out by doctors and pharmacists, more time is available for patient‐focused care. Much of their roles will be augmented in a trust‐less manner. Potential signs and patterns in the medication history of the patient will be able to be flagged to the doctor, saving them time and minimizing a potential human‐based error. Less time spent on automated tasks, saves time and money. This leads to a ripple‐effect in which every segment of the industry will improve over time, due to better funding allocation. Where empowered patients fulfil medication at their own will, and hospitals are performing significantly less admin work.

Working Product: Blue Patient

The purpose of BluePatient, is to enhance a patients outcome, by artificially interpreting and predicting abnormalities in your health within seconds. The software has been created in early 2018 by the Pharmeum blockchain project.

BluePatient’s innovative solution improves :

  • Patients health outcome, by minimising the potential for a human error
  • Time wasted on data checks by healthcare professionals
  • Digitisation of outdated, paper-based processes

Crypto Badges

Pharmeum is promoting transparency in the crypto space and was awarded the competition-verified basic badge and Compliant badge by Crypto-Potential[1]:

Competition-verified (basic) badge, The project has done the internal competitive analysis Compliant badge, The project has the legal opinion (stating their token is either a utility or security) and the token audit report.

PHRM Tokens

PHRM Tokens are used as a payment method on Pharmeum platform. It is an ERC20 standard token.

PHRM Token will be a payment for various services within the network, and support the nodes of the blockchain.

IEO/ICO Token Sale

Users can get PHRM tokens by taking part as in Pharmeum IEO/ICO.

The IEO will start in June/July 2019 (exact date TBA). A total of 412.5 Million PHRM tokens will be issued at a price of 0.03 USD per piece.

Pharmeum is setting a low starting market cap, and only raising $9 Million, by allowing investors to obtain PHRM tokens - which act as a universal healthcare currency. Pharmeum’s low hard cap aims to differentiate from the overvalued starting market cap ICO’s - which benefits investors through scarcity and demand.

Pharmeum’s token distribution includes allocating 750 Million PHRM tokens, to be used across the Pharmeum healthcare eco‐system. The issuance of PHRM tokens will be via both pre‐sale and public sales. Currently the only way to invest in Pharmeum is to sign up for the in-demand waiting list for the Public ICO on the official website. Alternatively, you can contact the team via the website to see if you’re eligible for the Private pre-sale round.

The tokens will be generated and distributed once they are able to be used in a Pharmeum product, to ensure a solid utility of PHRM tokens.

Out of these 750 million tokens:

  • 55% will be offered in the pre‐sale and public ICO
  • 24% will be used for the adoption of the eco‐system (including supporting node holders)
  • 20% will be vested in the team for 2 years, and allocated to strategic partners
  • 1% will be used for marketing, including a bounty program

The industry that Pharmeum is tokenising is massive, and the existing market traction that Pharmeum has achieved – including a working analytics product adopted in the UK Healthcare Industry last year, demonstrate a tremendous amount of ambition.

External links

  • ↑ "Pharmeum's profile on Crypto-Potential", Switzerland, 29 January 2019. Retrieved on 7 May 2019.
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