Javascript is disabled. Please enable Javascript to continue browsing

Reminder: Once you’ve hit your HBAR earnings cap, you’ll still be charged per view but won’t earn.

Unsupported device or screen size

Oops! It looks like you’re trying to access DailyTimestamp.com on an unsupported device or screen size.

To use DailyTimestamp.com, you'll need to visit us on a desktop or laptop using the Chrome Web Browser with the Hedera Browser Extension installed. If you are on a desktop browser, please maximize the size of your browser window.

You can learn more about DailyTimestamp.com at help.hedera.com

Tracking Drug Shortages with Open APIs and Hedera Hashgraph

Written by: Hedera Hashgraph

Abstract

This session delves into the practical considerations and approaches taken to develop a public ledger for tracking drug shortages in the pharma industry, using open API technologies and Hedera Hashgraph. Jim Nasr, VP of Technology and Innovation at Synchrogenix, addresses complementary use cases, the rationale for their design, architectural components, lessons learned, and the roadmap going forward.

Speaker

Jim Nasr | VP of Technology and Innovation | Synchrogenix: A Certara Company

Tracking Drug Shortages with Open APIs and Hedera Hashgraph | Hedera18

Slides https://www.slideshare.net/HederaHashgraph/tracking-drug-shortages-with-open-apis-and-hedera-hashgraph-hedera18 Speaker Jim Nasr | VP of Technology and Innovation | Synchrogenix: A Certara Company Abstract This session will develop into the practical considerations and approach taken to develop a large scale distributed ledger technology implementation for tracking drug shortage in the pharma industry, using open API technologies and Hedera Hashgraph.

Tracking Drug Shortages with Open APIs and Hedera Hashgraph

Representing about eighteen percent of the United States’ gross domestic product, the American healthcare system is a massive industry with a myriad of quantifiable issues: hundreds of millions of dollars are wasted annually, the cost of healthcare increases roughly every eighteen months, and there are frequent shortages of generic drugs across the country. Unfortunately, regulations have found little success in curbing these issues. Focusing on the drug shortage problem, Jim Nasr, VP of Technology and Innovation at Synchrogenix, describes a solution founded on transparency and innovation. Using Hedera Hashgraph and open API technologies, he demonstrates how a large-scale distributed ledger technology (DLT) can combat the generic drug shortage problem with real-time and transparent data exchange.

Decentralizing Healthcare Informatics

In the United States, healthcare data is scattered across a multitude of independent systems. Without standardized records, accounts, and patient IDs, these systems are unable to communicate or share data. As a result, the healthcare industry cannot leverage this information to solve its overwhelming problems; the data exists, but it is not currently accessible on a wide scale.

At first glance, centralizing this data seems like a positive solution. In fact, companies are already participating in a “land grab” for data, hoping to gain possession of this information to generate profitable solutions. However, these centralized solutions prevent patients from having access to and ownership over their own data. In response, Jim Nasr proposes a large-scale decentralized network which allows members of the healthcare industry to securely share data and collaborate while still letting patients control their own information.

Hedera Hashgraph and Open APIs

The Hedera Hashgraph Platform powers the foundation of Nasr’s solution. Due to its high security and cryptographic trust, Hedera allows for information to be exchanged between untrusted parties. From drug manufacturers to patients, all facets of the healthcare industry can securely collaborate with each other through Hedera Hashgraph.

tracking-drug-shortages-with-open-apis-and-hedera-hashgraph-hedera18-19-638

Each division of the healthcare system can interact with the Hedera network through an application program interface (API). Rather than providing a single API through which every participant must collaborate, Jim Nasr envisions a system with a multitude of single-function, open APIs. Every participant, whether they are an FDA regulator or a pharmaceutical distributor, would have access to an API specifically suited to their needs. While all participants would collaborate on the Hedera network, they would do so via their own, personalized APIs.

Jim Nasr finishes his talk with a demonstration, showing how Hedera Hashgraph can help provide solutions to the generic drug shortage problem. The demonstration video begins at timestamp: [17:01].

More stories