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- W2996141334 abstract "The ownership of PHRs has recently been the subject of considerable debate. Technically, under federal and state law, patients have legal privacy, security and accuracy rights related to their health information. But once that information is documented in written or electronic form, since the health care provider owns the media in which the information is recorded and stored, the health care provider gains the property right of possession of data. Recently, a blockchain-based platform has been developed to help patients resume ownership of their data, manage its use, and capture some of the downstream value of their own information. In so doing, this platform solves at least five heretofore vexing PHR-related problems, each of which is associated with some degree of economic value. We calculate the following: added value of ownership; added value of markets; added value of privacy; added value of quality and; added value of innovation. We calculate the net impact on individuals, life sciences companies, and local economies. Using reasonable assumptions and the best available data we show that each PHR owner generates $620 in value to the owners, $343 in value to the life sciences companies that become their customers, and $1,144 in value to the local economies in which PHR transactions take place. The total impact across all three stakeholders is substantial at $2,107 per capita. There are many indirect benefits of blockchain technology, covered in greater detail elsewhere. But it is worthwhile noting that such technical advantages are likely to become more efficiency-enhancing and can likely add significant additional functional capabilities in the longer run." @default.
- W2996141334 created "2019-12-26" @default.
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- W2996141334 date "2019-11-01" @default.
- W2996141334 modified "2023-09-30" @default.
- W2996141334 title "PNS160 ESTIMATING THE MARKET VALUE OF PERSONAL HEALTH RECORDS: THE CASE OF INDIVIDUAL DATA OWNERSHIP" @default.
- W2996141334 doi "https://doi.org/10.1016/j.jval.2019.09.2061" @default.
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