Startup CoverUS has developed a blockchain-supported platform that allows patients to sell their medical information to providers, according to Forbes.
The business will use blockchain technology to time-stamp the data sale and will require approval from the patient and provider for the transaction to be completed.
CoverUS' said its blockchain technology aims to put control in the hands of patient. Patients download their information from their EHR into the platform and add more health information as they see fit. Providers and physicians can then buy it.
Providers can benefit from this system by receiving more in-depth data. Patients can get paid up to $1,500 annually for selling their information, according to CoverUS co-founder Christopher Sealey.
The company plans to launch a pilot program in the second quarter of this year. CoverUS will test the technology with 1.5 million patients with irritable bowel syndrome, linking them with people in the healthcare market who want their data.
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