Reward loyalty points to customers for saving their health — Why not?
Using loyalty points is a tool that targets the collection of credentials from customers and accelerates patients’ participation.
Today’s information databases are vaguely disseminated. It requires people a considerable amount of time and money to collate and analyze these databases with others continuously. Information, which is retrieved mainly indirectly or being purchased from third parties, is not always authentic.
A long-term fix to this problem could be the direct procurement of credentials from targeted customers/organizations. Using loyalty points is a tool that targets to encourage the collection of credentials from customers. Rewarding customers with redeemable points every time they take the time to comment/review/feedback is a method of delivering positive results for the loyalty strategy.
Designing a customer-centric loyalty points system will help drive the health care industry’s robust information systems globally. As a result, experts choose blockchain as the underlying technology to build a loyalty program for its transparency, security, and geographic flexibility.
Determine loyalty points from a blockchain-backed loyalty program in the healthcare industry
Encouraging people to contribute credentials to healthcare databases represents a successful use case of the blockchain loyalty program. This shared data system assumes the expectation of storing and connecting all patient health data regardless of its origin. Reward points are what patients receive for sharing their health reports, diagnoses, or feedback on medications, prescriptions, and treatment history.
This solution will help achieve more significant synergies in terms of comprehensive diagnostics, more customized treatment, assist researchers in medical discovery and testing, and make it more transparent and distributed by how to put patient records on a shared, secured, immutable data platform:
- A sharing database: A patient can securely log in on the blockchain network and get rewarded every time they share information in the network. Additionally, patients may be rewarded for participating in an online survey or study. These rewards can then be redeemed for partner services on the blockchain network and to medical stakeholders such as doctors, retailers, diagnostic centers, and path laboratories.
- A secure database using encryption: Persuading patients to share their sensitive health information is a significant challenge in devising such a health data center system. Service providers must ensure the confidentiality of this information. Records are encrypted and can never be decrypted without authorization addresses a patient’s concerns about privacy, allowing that person to share in control whenever he needs and earns some bonus points.
- Transparent rewards system with timestamp: Patients need to trust and participate in building the system to create transparency. A customer-centric blockchain loyalty program system provides information about the services, details of the rewards they receive (based on five questions: Who? What? When? Why? How?). This system will also become a stepping stone for doctors and the scientific community to research patient health records, serve projects to develop medical solutions, and improve public health.
- Authorized System: The blockchain-powered patient health record system gives the patient full authority to provide and revoke access to his/her records from doctors, researchers, and others. Neither party on the blockchain network can access a patient’s health records without their permission.
Blockchain provides a unique opportunity and connection for clinical research companies, medical companies, pharmaceuticals, and entire health operations systems.
Healthereum LLC — An use case of a healthcare loyalty program on blockchain
Healthereum LLC, a startup in the healthcare industry, offers a blockchain-based loyalty program to assert health care is a joint effort from two sides: healthcare providers and patients.
The fact that the large number (20%) of patients were absent from their physical exams or the lack of patient interaction with insurance companies caused a failure to incorrectly identifying health information, coverage, payments, and deductions.
The Healthereum solution is expected to create incentives for patients to actively coordinate and contribute to their health data and the community. Clients will be rewarded with loyalty points for attending health check-ups, endorsement of insurance, and medical services ahead of time. These bonus points are essentially encrypted tokens, can accumulate over time, not altered and lost. Customers can redeem these tokens for other medical services and insurance, depending on the provider.
As a result, providers in the network see higher attendance rates for appointments, significantly higher survey response rates, and faster insurance payout times with less fraud risk. The project can operate globally, at medical centers, pharmacies, and pharmaceutical companies within the network.
akaChain — a trusted partner to implement a blockchain loyalty program solution
According to the Global Market Insights forecast, blockchain applications will contribute $1.65 billion to the healthcare market by 2025. Blockchain technology in the healthcare industry is predicted to bring rapid development and advancement, thereby transforming the healthcare industry.
akaChain’s goal is to build blockchain loyalty program solutions that healthcare organizations can easily manage and operate. The solution that we deliver to our business customers is the blockchain technology platform itself and a complete solution that takes into account business problems.
We always hope that our customers can have a full-stack solution, easy to integrate, and synchronize to save development time and costs.
akaChain is backed by FPT Software, a globally leading technology, and IT services provider. It is an end-to-end, permissioned, multi-chain network based on the Hyperledger Fabric. Since its Establishment in September 2018, akaChain’s product has assisted many enterprises, from SMEs to Fortune 500 firms, to transform with distributed ledger technology. The company provides a broad range of permissioned blockchain-based products and services in multiple sectors, including retail, supply chain, banking and finance, insurance, shopping mall management, etc. to transform with its distributed ledger technology. For more information, please visit https://blog.akachain.io/.
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