The Healthcare industry, in general, has advanced exponentially in the past few decades. The credit of this advancement mostly goes to the inclusion of the latest technological innovations in the industry.
In the past, medical records from visiting different healthcare professionals used to get stored differently, which made it difficult to get an overview of the complete health of an individual. But with the introduction of blockchain technology in the healthcare space, it has now become possible to store all the health-related information of an individual in one centralized place.
Patientory, Inc. is one such company that is providing these vital services to both patients and enterprises to better manage their health. The company is spearheaded by Chrissa McFarlane, its Founder, and CEO.
In the following interview, Chrissa elaborates on how the company is transforming the healthcare space with cutting-edge technology.
Below are the highlights from the interview:
Please brief our audience about Patientory, Inc., its USPs, and the key aspects of its stronghold within the healthcare supply chain niche.
Patientory, Inc. is a population health data management and analytics company that empowers patients to manage their healthcare data while also providing enterprises with holistic data points to help them develop more comprehensive care plans. We are one of the three HIPAA compliant platforms that combines blockchain, big data, and machine learning to help enterprises better understand consumer health data.
We are the only company that provides on-chain healthcare population analytics on top of a specific healthcare blockchain, and we have done so with a fraction of the funding that our competitors have received. Being one of the first movers using Blockchain technology in the Health IT market, we provide a solution for both patients and providers.
Tell us more about the solutions that you offer, giving Patientory, Inc. a distinctive edge to stand out from the competition.
We are all aware that patients and providers still face challenges managing health data on a daily basis, as healthcare is generalized, not personalized, and data aggregation is limited. Both providers and patients lack the comprehensive data to make the most efficient decisions.
Due to a lack of interoperability and access across current management systems, providers, employers, and pharmaceutical companies are unable to see the whole picture; they are unable to create efficient care plans for patients without access to all patient data. So, we came up with a solution that fills these gaps and gives patients an opportunity to own their health data, where Patientory democratizes individual ownership of the world’s health data and incentives to improve health outcomes.
Patientory Inc. provides patients with access and insights, comprehensive healthcare data, risk management analytics, and AI-driven clinical trial recruitment management systems through its two decentralized applications, the Patientory mobile app and enterprise software tool Neith.
This is achieved by integrating a blockchain-enabled network to gather and analyze siloed healthcare data, which includes daily lifestyle factors, and in turn, reduce the cost of care. Our increased interoperability improves care coordination while ensuring data security, minimizing health breaches and penalties, and decreasing IT expenditures.
As a seasoned business leader, what is your opinion about the effects of the pandemic on the healthcare supply chain sector, and what were the challenges that Patientory, Inc. came across?
The COVID-19 pandemic has impacted every nation, business, and supply chain all over the world. The pandemic highlighted the inadequacies and weaknesses in the health care supply chains. It brought to light previously unseen vulnerabilities and many organizations have suffered staff shortages and losses due to the COVID-19 crisis.
One of the most difficult aspects of managing this public health crisis has been the manufacturing and distribution of medical devices, surgical supplies, and medicines to those on the clinical frontlines. However, for our company, we didn’t really face any challenge, and I would say the pandemic really brought to light the nest, the means for supply chain in healthcare and tracking, which brought our solutions to the forefront.
With continuous development in technologies such as AI and ML, what is your prediction about the future of the supply chain solutions niche?
I see the promising future of the supply chain solutions niche with continuous development in technologies such as AI and ML. There is no doubt that AI and ML are becoming essential to innovative supply chain transformation as AI and ML can deliver unprecedented value to supply chain and logistics operations.
We all know that the COVID-19 pandemic put a tremendous amount of pressure and stress on many supply chain industries. Many organizations are increasingly pressed to work smarter to fulfill customer’s needs and expectations.
Some organizations are starting to use AI technologies across the end-to-end supply chain to help make predictive and prescriptive decisions. So, I believe having advanced technologies like AI and ML will definitely add value and help to normalize the current situation facilitating both consumers and providers.
What would be your advice to the entrepreneurs aspiring to venture into the healthcare supply chain solutions space?
I have always believed in a future when healthcare is no longer defined by the large expenses that currently plague the economic systems and the general people. The most important thing we need to do is continue to raise awareness, be a voice for the others coming behind us, and learn to step outside of your comfort zones in order to create an industry that looks and performs quite differently in the future.
Especially for new entrepreneurs, it is always crucial to network and connect with others to explore your expertise and opportunities. I would say networking is the most important part to explore and attract different opportunities.
How do you envision scaling your company’s operations and offerings in 2021?
In 2021, we envision scaling our company’s operations and offering through partnerships and campaigns.
About the Leader
Chrissa McFarlane is the Founder and CEO of Patientory, Inc., based in Atlanta, and a Forbes contributor on healthcare and blockchain topics. She was named as one of the top women ‘leaving their mark on the MedTech field in health IT’, by Becker’s Hospital Review. Chrissa McFarlane founded Patientory after working more than a decade in the healthcare technology industry and realizing there was a need for more personalized, secure, and consumer-driven health information management solutions.
Chrissa has worked in a variety of sectors in the healthcare technology industry, from microbiological research to pharmaceutical operations consulting, as well as working with health insurance providers and hospitals. She has devoted her career to healthcare and blockchain, and she believes that blockchain has the potential to improve healthcare by integrating socioeconomic determinants of health into care.
Chrissa is a Digital Health Influencer for HIMSS and an influencer/ambassador for the Metro Atlanta Chamber of Commerce. She is passionate about fostering digital innovation in the healthcare industry. Chrissa is also a published author and her debut book ‘Future Women: Minority Female Entrepreneurship and the Fourth Industrial Revolution in the Era of Blockchain and Cryptocurrency’ was published in 2019. She is a pioneer with influence in the areas of both blockchain and healthcare.
Awards and Recognition
Patientory has received many accolades, including
- ‘The 10 Most Innovative Digital Healthcare Solution Providers 2018’ by Insightscare
- The 2018 ‘Globe Award Winner’ in International Trade by the U.S. State of Georgia
- ‘Technology Pioneers 2021’ cohort by World Economic Forum
- ‘Top 100 Start-up of the Year’
- Recently, Patientory was nominated for ‘Best Digital Health Solution 2021’ for the 2021 Prix Galien USA Award by Galien Foundation.
- Patientory is on the top 10 list of successful blockchain companies that are thriving today.