Kavingali, Corp. announces the launch of a brand new, secure platform called Engage DMR™ that will democratize payment for personal health data. It will allow users (patient/healthcare consumer) to control access to their personal medical records and provide the opportunity to sell their de-identified data in a secure marketplace. Engage DMR™ (digital medical record) uniquely offers, secure medical record storage that permits the user to share and directly sell their de-identified data. De-identified data is data that has been stripped of all personal information that could be traced back to an individual.
Engage DMR™ works easily via downloading an app that will collect your medical records and de-identify them (so no one knows it is your data), then you opt in and get paid in a fairly short period of time. The platform is user (patient/healthcare consumer) centric and offers the opportunity for users to control and monetize their own medical data. The platform will democratize the current revenue model of healthcare providers and other companies who sell data to pharmaceutical companies, commercial insurers, and others by switching the control over to the individual users.
Such de-identified data typically also includes real world evidence (RWE) and patient reported outcomes (PRO). This user reported data that gets collected along with the de-identified data from medical records when combined have a rough market value between $1,000 and $18,000 annually. This depends on medical conditions, per patient, per company that is buying the data. Large pharmaceutical companies are now paying tens of millions of dollars for de-identified data.
The marketplace for de-identified data has greatly expanded in the past decade, to include the U.S. Federal Drug Administration (FDA) placing additional focus on RWE and PRO with the 21st Century Cures Act, passed in 2016. In addition, pharmaceutical companies along with medical device companies have found that this data offers key insights into how effectively a drug or device works after it has been released to the market. As a result, such new access to mass data may also offer new insights into dosages and the efficacy of current treatments at a much faster and efficient pace. The market demand for this data is growing, but most private individuals never see a dime from any of these transactions that utilizes their own personal data.
The technology has already performed well in the HHS/FDA regulated space. Engage DMR™ is designed to collect and store full gene sequences, traditional medical histories, images, lab data and direct data collected from the user’s wearable devices. Interoperability has been accomplished by a proprietary method to easily migrate any EHR data easily into the platform. Additionally, Engage DMR™ users will have an opportunity to opt in to be considered for clinical trials, in which they meet the inclusion and exclusion criteria. Fitness, medical and wellness devices can easily be linked allowing users to opt in and share ongoing medical data with a pharmaceutical, medical device or insurance companies.
Kavingali, Corp. will disrupt the healthcare data industry by being the first to split revenues with individual patients. They will do so by providing a HIPAA compliant, secure platform that employs blockchain technology along with robotic process automation and microservices with users that allows the retention of 50% of the revenue. User payments will be paid via electronic payment and users can additionally opt in to have deposits made to health savings accounts. Kavingali, Corp. estimates that users, depending on medical conditions and data shared, could expect between $1,000 and $4,000 per year in payments.
Dr. Leigh Mack the CEO of Kavingali, Corp. had this to say about it, “This is one of the most disruptive healthcare technology innovations in the last 50 years. This will allow the masses to take personal control over their medical records.”
For more details about Engage DMR™ email [email protected]