Addressing the Financial Impact of Medication Non-Adherence
Chronic illnesses affect nearly 50% of all adults and 8% of children (aged 5–17 years) worldwide. When you add to that an aging population, it’s easy to see why global healthcare resources are under stress. For many health services, prescribing medications is a cost-effective way for caregivers to manage and treat these conditions but with estimates of 50% non-adherence to long-term therapy for chronic illnesses, intentional and unintentional medication non-adherence signifies a prevalent and persistent healthcare problem.
Research indicates that 10% of hospitalizations in older adults are because of medicine non-adherence – a typical non-adherent patient uses an extra three days of medical visits to the hospital or health center – costing an additional $2,000 each year. Non-adherence, therefore, represents a critical clinical and fiscal problem. With such a large proportion of patients not adhering to their prescribed medication, solutions that help increase adherence present an opportunity for health services to enhance health outcomes and health system efficiency.
Curaizon is a London based healthcare technology company that is using the blockchain to deliver technologies that can increase adherence, save lives and money. Its enhanced and standardized data analysis can be effective in areas such as predictive medicine, patient relationship management, management of healthcare and measuring the effectiveness of certain treatments. Using big data, artificial intelligence, and machine learning tools, Curaizon’s solutions can reach out to patients in real-time to remind them about taking medicines as well as harness the resulting patient data to help caregivers and medical researchers treat many illnesses quicker and more efficiently.
As the amount of data grows, health sciences will have better resources available to them to understand the precise nature of diseases and open pathways to develop personalized treatments. Use of these new technologies will place a greater emphasis on preventive health solutions and patient-centric care both of which are critical to improving healthcare provision. Researchers can use Curaizon’s data, along with their own to develop better medicines, with fewer side effects for example, and ultimately drive up adherence rates.
Up to 8th September 2018, Curaizon is offering potential stakeholders the opportunity to buy into its technologies via its blockchain initial coin offering (ICO). The token, referred to as CTKN, allows holders access the unique CuraData platform and the valuable and unique patient adherence data.
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Images courtesy of Curaizon.