Here's How Healthureum Wishes To Solve the Rising Labor Cost Issue in the Healthcare Industry

Many problems are hindering the delivery of quality healthcare across the globe, and rising labor cost is among the major ones.

Rising labor costs affects mostly the ratio of doctor to patient. In 2012, the proportion of doctor to a patient was 1:1000, which is quite disastrous. This problem is brought about by the inadequacy of resources both in private and public health sectors.

To fight the problem of rising labor costs, many world healthcare experts have turned their focus in technology-based solutions. There have been scientific inventions including 3D printing and AI as well as robotic surgeries. All these aimed at solving the issue of inadequate resources.

Digital monitoring wearables, digital pills as well online doctor consultations have also been invented in the hope of cutting down the cost of healthcare.

The fact that the world is counting on technology to help solve the rising labor cost in the healthcare industry leads to the focus of this article.

Will Healthureum, with the use of the blockchain technology be able to solve the problem of rising labor costs in the healthcare industry? Yes, and the following are how the blockchain-powered platform will help bring down this giant of a problem.

Human Resource Management

Human resource is an essential sector in any business setting which can land an institution into financial crisis if not well managed. The Healthureum platform uses the blockchain technology to monitor and keep track of the human resource departments in the healthcare sector. The system records all employee data and payments, minimizing the HR efforts and grievances.

Facilitating Interoperability

Interoperability enables two systems to connect seamlessly, share and use the shared data, which regards one patient at the same time in real-time. Healthureum allows connectivity of systems through a secure and immutable network.

Being able to share data in real-time helps medical facilities to cut their operation costs by getting rid of extra stuff, who otherwise could be handling data reconciliation. It also reduces data reproduction costs since to share information through the traditional means; it has to be duplicated. This helps to reduce the hospital's labor costs.

By Facilitating Fast Service Delivery

By availing patients’ medical data in a single distributed platform makes it possible for practitioners to go straight to treatment process or other relevant activities since there's no need for inquiries about the patient. This means that doctors will not work overtime as they will take a short time on one patient and move on to the next.  

The Healthureum platform also uses the smart contract technology to time stamp all activities by the doctors, and so there could be no cases of idling doctors while there are patients in line. Through the time stamp functionality, a medical institution can quickly determine the amount of labor force required in the hospital. Which eventually results in reduced labor costs.

Through Data Standardization and Systemization.

Healthureum avails a patient's longitudinal medical data at the ecosystem, which means that hospitals will not need extra stuff to do patient registration. With the traditional data harvesting methods, a new patient will need to register with a new hospital by issuing their current health status, previous illness and medication, prescriptions, family history and other relevant patient's information, all that require human labor to execute.

Using Healthureum will mean that registration and data collection clerks could be laid off, and their wages would be used in a more deserving and relevant activity.

Patients well-being follow up could be expensive, in the long run since the hospital uses resources to do it. With Healthureum, such costs that involve patients follow up, or tracking down a patient due to lost data will be eliminated. Patient's information is always available in the Healthureum ecosystem.

Through Disintermediation

Another primary cause of increased labor costs is the presence of middlemen in the healthcare supply chain. This makes the hospitals suspicious of being supplied with counterfeit supplies or even corned. Also, intermediaries make the supplies quite expensive. As of such, the medical facilities have to have an officer from the procurement department to follow up on purchases to ensure that what the hospital ordered is what is delivered.

Through Healthureum, all hospital equipment and drug suppliers are thoroughly vetted to confirm their legitimacy. This ensures that the procurement department doesn't need an inspection officer to validate a supplier, which leads to reduced labor costs at the hospital.