SimplyVital Health, the company behind the blockchain-based healthcare protocol Health Nexus, has announced a delay to its token offering to give further time for AML and KYC analysis. SimplyVital Health is dedicated to creating the best possible foundation for its Health Cash (HLTH) token that is critical to building out a new healthcare ecosystem and amid a climate of heightened interest in cryptocurrency offerings, SimplyVital Health is adhering to current best practices as closely as possible.
Kat Kuzmeskas, MPH CEO, SimplyVital Health said:
“While the AML/KYC process during the pre-sale is a significant bottleneck, we are happy to comply with this requirement as it not only helps us review our earliest supporters but even in some cases, we have the opportunity to connect personally with them.”
SimplyVital Health is responsible for one of the first working blockchain applications in healthcare called ConnectingCare, a solution for securing patient care data in accordance with the Health Insurance Portability and Accountancy Act (HIPAA). ConnectingCare integrates blockchain technology to allow users to securely access medical data, reducing friction in the system and improving outcomes.
Now, SimplyVital Health plans to scale out their operations with the introduction of the Health Nexus protocol, a healthcare-specific blockchain protocol fueled by HLTH. The unique design of Health Nexus allows users to securely share medical data across multiple care providers whilst still ensuring data storage meets stringent HIPAA compliance guidelines.
The Health Nexus protocol can bring huge benefits for the industry by connecting healthcare facilities with insurance agencies, pharmaceutical companies, and research institutions to significantly augment existing care pathways. In real terms this is accomplished via an executive governance system that carefully ensures node validation only takes place by compliant entities, forming an entirely new protocol for data integrity and security within healthcare.
According to Accenture miscommunication and waste in existing healthcare systems contributes to a loss of $12bn per year. SimplyVital Health’s CEO Kat Kuzmeskas has seen this first hand from her work in the industry in several roles including a strategic planner for Yale New Haven Health. Her experience within healthcare and vision to improve on the status quo earned her a place in Fortune magazine this year as ’34 Leaders Who Are Changing Healthcare’. The team includes blockchain experts and business leaders putting SimplyVital Health in a strong position to expand.