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CIO/CTO Opportunity Knocking: The New Era of Healthcare

CIO/CTO Opportunity Knocking: The New Era of Healthcare

I recall just a few years ago reading numerous blogs and posts indicating that the role of the CIO (Chief Information Officer) and CTO (Chief Technology Officer) are dead. For those of you who have survived or who have been reborn, I am confident that it is because you transitioned your role and focus from Information and Technology to Innovation and Transformation.  There is no doubt in mind that you adopted an enterprise architecture approach and invested in the necessary people, process and technology to optimize existing business capabilities or to introduce new business capabilities.

The healthcare industry has been lagging behind other industries in most cases and has been very slow to implement and adopt new technology. Healthcare CIOs and CTOs are in luck, as healthcare is in desperate need of undergoing a complete transformation. Personal health data is currently not used efficiently or effectively.Information has historically been created independently and is isolated throughout hospitals, physician practices, pharmacies, and laboratories. Sharing healthcare data from one institution to another has been an overly complex task plagued with privacy concerns and in some cases a fear that sharing information will give other entities a competitive advantage.

The old era of IT in healthcare has been focused on transitioning toelectronic medical records (EMRs) solution offerings, but these alone have fallen short of addressing the real problem and opportunity. EMRs were designed to solve a point problem rather than large-scale industry transformation. Each EMR is developed leveraging different data standards and these data standards inhibit interoperability since records are not compatible between systems. If we don’t consider the bigger picture and continue to leverage a duct tape approach such as traditional Health Information Exchange (HIE), we will be unable to innovate fast enough to meet the demands of the industry.

You are more than likely evaluating how in your role as an innovative and transformative leader in healthcare, you can empower your organization to eliminate waste and to provide quality access to care.You are also probably questioning what the real tipping point is in reducing healthcare costs.Innovative and transformative IT leaders do not use security or other constraints as excuses that prevent them from taking part in the development of the necessary strategyand detailed execution plans required to realize the vision. Innovative and transformative leaders in IT run towards the visionand leverage their unique talent and experience to ensure that the introduction of new innovative capabilities lead to enhanced security and compliance.

Technology innovation is moving at a speed like never before and continues to accelerate us into a new digital era. As IT thought leaders, we must start by leveraging our unique skillset and talent to analyze, inform and educate. There is no one in a better position within your organization to perform the necessary due diligence required to see beyond marketing pitchesand to truly qualify, validate and verify relevant solution offerings. We must quickly learn how to take advantage of proven innovation to optimizestakeholder experiences, cut costs and to address security and compliance considerations. CIOs and CTOs must earn a seat at the executive table and be conscious of behaviors that feed common IT leader stereotypes.

Regardless of where you are on the journey in terms of exploring new innovation that has a potential for wide scale impact, it is obvious that there are some key technologies that are at the forefront of the digital revolution. Blockchain, crypto and artificial intelligence (AI) are defining new standards and turning industries on their heads. People are suggesting that the impact of blockchain in particular will be as significant as that of the Internet. Imagine if you were able to take advantage of a working blockchain solution to decentralize and secure healthcare information in this new era. With such a solution in place, the notion of a traditional HIE becomes obsolete

We cannot afford to start with a technology focused lens; however we must understand the technology and be prepared to explain the benefits that a given technology hasin terms of impacting business capabilities. We must leveragea top down design approach where requirements live at the highest layer and lead us to a set of relevant design considerations. As part of the design phase we need to evaluate how the solution capabilities will provide the necessary performance, scale, and security to address existing challenges in a sustainable manner. Only after we have explored all possibilities that an innovation has on impacting the business and realizing the vision, should we begin looking at constraints.

Not all blockchain solutions are created equally and some are far more suitable in terms of being able to effectively address the need to deliver patient records in a consistent, real-time and secure HIPPA compliant manner. Here are some questions that you should be asking:

  • Is the blockchain network public or permissioned?
  • How does the blockchain solution offering specifically address data privacy considerations?
  • Does the blockchain solution offering only allow health information to be accessed via a smart contract after patient authorization?
  • What is the overall scalability of the blockchain solution offering in terms of its ability to process a certain number of transactions per second?
  • How is data stored and what impact does this have on scaling and transaction delays?
  • How are utility tokens leveraged to process data requests for patients, providers and consumer organizations?
  • May I see a demonstration of the working data request and management portal?
  • May I see a demonstration of the working patient facing application?
  • May I see a demonstration of the wallet application used for trading tokens?
  • Is the blockchain solution pilot ready?

CIOs and CTOs that have transitioned your focus from Information and Technology to Innovation and Transformation,opportunity is knocking. I highly encourage you to explore how Timicoin/TimiHealth is defining the new era of healthcare by visiting https://www.timicoin.io/ and by following the Companies on Twitter https://twitter.com/TimiHealth.The time has come to deliver an optimized environment where health data is structured, secured, and leads to better data utility as well as improved patient care outcomes.

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