SOURCE: Hemcare Health Services Inc

October 03, 2017 08:00 ET

HemCare Health Services unveils plans to develop innovative global Blockchain solution for Electronic Health Records Management

LAS VEGAS, NV--(Marketwired - Oct 3, 2017) -  HemCare Health Services Inc. (OTC PINK: HCRE) is pleased to announce its program for the development of a new blockchain based EHR system for the secure storage and sharing of electronic health records. The HHS system plans to solve many of the shortcomings of current EHR systems. 

Health records include data on medical history, medical conditions and procedures, allergies, immunization status, medications, laboratory test results, radiology images, personal statistics like age and weight, physicians' observations and billing information.

The market size of the global Electronic Health Records (EHR) market is currently estimated at US$18 billion. Government initiatives mandating or promoting EHR have only increased the demand for electronic systems which is expected to grow at a compound annual growth rate of 6.4%.

Electronic health records provide for the collection and digital storage of patient health information on networked computer databases and the sharing of these records between various health care providers, researchers, pharmacies, payment facilities and lawyers.

EHR offers a number of valuable advantages to healthcare providers and patients, however the systems are not yet ideal. Current systems tend to silo records in disparate, proprietary databases which causes the timely sharing of health records to be problematic. In addition, the privacy and security of electronic health records have been proven to be a concern. Industry analysis estimates that over 100 million patient records have been hacked, in the US alone, since 2015.

HemCare's development team is working to solve the major problems of the health records industry through the introduction of a blockchain solution. Blockchain presents a new paradigm. A universal set of tools based on cryptography to provide immutable assurance of data integrity with programmed "contracts" to control data access. The character of the blockchain as a decentralized immutable ledger provides the potential to standardize information exchange, access control and auditing capability without the need for a central trusted authority.

"We believe the HHS system, based on the Ethereum network and other emerging blockchain technologies, will position the company in the forefront of the EHR industry. Our Whitepaper and proposed initial coin offering (ICO) details will be released shortly," stated John Wilkes, President & CEO of HemCare. Follow our rollout at www.hemcarehealth.com.

About HemCare Health Services Inc.
HemCare Health Services ("HHS") is a Health Information Exchange company. HHS operates a single unified platform providing the ability to request and retrieve medical information & records while meeting all of today's Security & Compliance demands for HIPAA, PIPEDA and PHIPA. Through RecordsBank.org, the Company offers an easy to use online portal to its centralized System for Patients, Lawyers & Insurers to Retrieve and Access Medical Records. The company also offers a discount for savings of up to 87% on pharmacy drugs and services throughout the USA. To get your free card now click here.

Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publically update or revise any forward-looking statement.

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