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26 August 2018
In order to significantly reduce the cost of purchasing healthcare products and services that will be driven by big data technology, a collaborative research laboratory and the National Group Purchasing of Healthcare Resources Platform otherwise known as “the Platform” was established.
The Platform was also established by three organizations namely; the Social Medical Insurance Bureau of Heilongjiang Province, the China Association of Social Security (CAOSS) and also THEKEY. At the moment the Platform is currently co-chaired by a Professor of Renmin University of China and an active member of the standing committee of The Thirteenth National People’s Congress (NPC) – Senior Senator Sir Zheng Gongcheng.
THEKEY which exclusively serves as a technical provider for the aforementioned organisations hosted the maiden meeting in Beijing, China on the 19th of August, 2018. The meeting was attended by officials of social enterprises, the National Healthcare Security Bureau as well as from those departments of relevance in the Human Resources, Social Security and Social Insurance sector.
Dying to Survive is a movie about Lu Yong a Leukemia sufferer from China who smuggled cancer drugs from India not just for himself, but for 1,000 sufferers of cancer in China back in 2004. This movie has raised concerns about the high costs of healthcare products and services in China. It must be said that the Premier of China, Li Keqiang used the movie as a point of reference in urging regulators to expedite action in reducing the cost of cancer drugs in particular.
The world’s largest health insurance program is the China Basic Medical Insurance System which caters for more than 1.4 billion Chinese nationals. It must be mentioned that in 2017 the total Basic Medical Insurance expenditure in China was $220 billion. This expenditure has been steadily growing and is the principal reason why the Platform was established to help achieve two primary purpose;
At the maiden meeting of the Platform, Dr. Yidong King of THEKEY introduced the logic and rationale behind the establishment of the Platform. Dr. Yidong King stated in his speech that the Platform was created as an E-commerce structure that will be supported by every of the healthcare related data collated from all the Basic Medical Insurance agencies in China for the purpose of improving China’s medical insurance fund overall effectiveness and efficiency as well as enhancing the health of China’s populace.
Dr. Yidong King also said that the Platform has been created to resolve those problems associated with the procurement of healthcare related resources. It has also be designed to provide effective real-time appraisal and regulation of the entire process of purchasing healthcare products and services. Furthermore, Dr. King stated that the Platform will ensure both an integral and complete support to healthcare resource purchase including important knowledge, medical services and products. The Platform will be used by hospitals, enterprises, medical insurance agencies, individuals and pharmacies.
Blockchain technology will be adopted by the Platform in stages for the purpose of tracing as well as tracking medical consumables and drugs. Blockchain technology will also be used in implementing the transmission of data between stakeholders and in executing highly effective P2P money transactions. THEKEY will provide it’s proprietary Dynamic Multi-Dimensional Identification (BDMI) a blockchain-based identity verification technology utilised for both enterprises and individuals. BDMI will be utilised to ensure patients’ data safety and also to secure the payment of their medical healthcare insurance fund.
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