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05/22/16 8:35 PM

#416 RE: Penny Stocks 2.0 #403

More hospitals using fingerprint scans for patient ID

by Jess White November 27, 2015Comments (0)

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To identify patients, some hospitals are exploring the use of biometric technology – specifically fingerprint recognition. The approach has both benefits and drawbacks. 

?Biometric technology is growing in popularity. At first, it was only seen in sci-fi movies. But now, this technology is common in several aspects of modern life.

For example, many companies use biometric timekeeping systems for payroll purposes. And some of the newest smartphones come equipped with the ability to identify users based on their fingerprints.

Now hospitals are jumping on the bandwagon, too.

Reasons for trend

Healthcare blog Future of You, published by KQED Science, discussed the trend in a recent post.

In the absence of a national healthcare identifier, which is used in many other countries to distinguish patients from each other, hospitals are scrambling to find an easier way to identify their patients.

It’s especially confusing to keep track of patients when they have multiple last names or change residences frequently.

To make identifying patients easier, facilities have started partnering with companies specializing in biometric fingerprint identity recognition. Specifically, the blog post mentions hospitals working with SafeChx, a system designed for the healthcare industry.

SafeChx links patients’ fingerprints to the personal information a hospital has on file for them, including their health records. The system is free of charge for hospitals to use. CrossChx, the company that created SafeChx, also sells various healthcare apps facilities can integrate with the system to enhance it.

Right now, 178 hospitals are using the SafeChx system, and most are small and medium-sized facilities. CrossChx plans to start marketing its system to larger, teaching hospitals soon.

Both sides of systems

Because biometrics are becoming more common, other systems besides SafeChx are sure to spring up soon.

Not only do they make it easier for hospitals to identify patients, supporters say biometric fingerprint identification is also an excellent way to guard against patient identity theft, as well as the “doctor shopping” that often happens with prescription pill addicts.

However, critics think biometric fingerprint identification systems can create more problems than they solve. Here’s why: Although it’s true that fingerprints are unique to each person, there’s still a possibility the system can be compromised.

If hackers figure out how to simulate a patient’s fingerprint, they’d have access to all the person’s protected health information. In that regard, it’s just like any method where a single factor is used for identification, such as password protection.

But unlike a password, which can be quickly changed if it’s stolen, a person’s fingerprint can’t be altered.

Protecting data

With that in mind, hospitals would need to make sure the information stored in their systems is effectively protected with methods such as encryption in case a data breach occurs. And facilities would need to have a different protocol in place to identify patients should their biometric identifying data be stolen.

There are alternatives to identifying patients via biometrics or through standard demographic information if this need arises. One example from the Future of You post: Kaiser Permanente is starting to keep a photograph of each patient on file in the medical record.

Whatever strategy your hospital uses to identify patients, internal security is still of utmost importance. Biometric fingerprint scanning technology means nothing if your network and IT infrastructure aren’t secure from outside threats.

Penny Stocks 2.0

05/22/16 8:36 PM

#417 RE: Penny Stocks 2.0 #403

Importance of biometrics in healthcare

 March 16, 2015  iritech_admin

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The healthcare system, in the process of transformation to enhance safe, quality and cost contained care, is facing many challenges. The most serious problems that healthcare system is experiencing are medical identity theft, other types of fraud in healthcare services and healthcare insurances. According to Financial Cost of Healthcare Fraud report 2014, the current global average loss rate increased from 5.99% in 2007 to 6.99% in 2011 equal to $487 billion. The recent report from FBI stated that “Health care fraud costs the country tens of billions of dollars a year. It’s a rising threat, with national health care expenditures estimated to exceed $3 trillion in 2014 and spending continuing to outpace inflation”.

The most effective solution to prevent fraud and medical identity theft in healthcare is to strengthen the authentication and minimize the risks of security breaches with the use of biometrics. Biometrics has been becoming the best choice for the healthcare provider to solve fraudulent issues. In recent years, biometrics has been being adopted by various healthcare organizations worldwide to protect health records, facilitate easier access to medical information, and defend health care consumers against frauds. Besides, the rise of interoperable health information databases using biometrics can enable services to simply and regularly administrate the access to medical identity by authorizing access to patient’s records using biometric identity. By linking such information, the patients can be easily identified and connected with their personal medical records providing for specific healthcare services. Hence, the linking between biometrics and electronic health records allows the health organizations to provide more accurate and efficient healthcare services. Since April 2009, the US requires the physicians and healthcare professionals who used electronic health record should check carefully the accessing to the patient’s record. Biometrics allows the physicians to do this easily. By making the records only accessible to someone who is identified by fingerprint, vein or iris, a record can be kept of identity and time accessing the file, and it can be ensured that the person who accessed the file is definitely the one has the right to see a patient’s record. If they mismatch, the appropriate authorities can be notified that unauthorized person is trying to access secure data.

Healthcare biometric market has envisioned a tremendous growth in the past few years. According to ‘Healthcare biometrics market’ report from Transparent Market Research published on September 2013, the fingerprint recognition technology is the most prominently used biometric technology and will make up more than 50% percent of biometrics demand in healthcare industry through 2019. Besides, face and iris recognition are also expected to have rapid growth in term of the demand for logical access control in healthcare services. Currently, North America along with Europe captures more than 75% of the market share. The global healthcare biometrics market which was cost $1.2 billion in 2012 is predicted to rise by 25.9% from 2013 to 2019 with the estimated market value of $5.8 billion in 2019. Healthcare has become one the most attractive markets that many biometrics companies aim to penetrate in including 3M Cogent, Inc., Bio-Key International, Inc., DigitalPersona, Inc., NEC Corporation, M2SYS LLC.

There is no doubt that biometrics has significant potential in health care, in facilitating cost reductions, enhancing information security, increasing the services quality, improving accessibility, and even greater geographic equity of delivery. To push biometric technology into the mainstream identification market, it is important to encourage its evaluation in realistic contexts and foster innovation of inexpensive and user-friendly implementations.

Penny Stocks 2.0

05/22/16 8:44 PM

#421 RE: Penny Stocks 2.0 #403

Healthcare Biometrics Market offers High Patient Data Protection through Advanced Biometric Technologies

SEPTEMBER 10TH, 2015? TRANSPARENCY MARKET RESEARCHRELEASES

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Biometrics technology is increasingly being used in various healthcare organizations to provide patient and medical staff the required privacy, verification, and access control.

Worldwide, law enforcement, healthcare, and government agencies are constantly leveraging standard laws for biometric devices to support all aspects of patient protection in hospitals and clinics. The healthcare biometrics market is growing competitive based on the different compelling technologies such as facial recognition and fingerprinting getting introduced into this market. Biometrics is a fast-growing and promising market segment within the healthcare IT industry and is rapidly changing the entire perception and outlook of the healthcare industry with respect to patient security and privacy solutions.

Browse Full Article:http://www.transparencymarketresearch.com/article/healthcare-biometrics-market.htm

Scope of the Biometrics Market in the field of Healthcare and Medicine

Several healthcare facilities are shifting their focus on implementing biometric security solutions for patient identification and privacy of patients’ healthcare information. These systems provide patients and professionals the opportunity to secure their private and business information and keep it confidential to the extent required.

Moreover, to reduce the cost and complexity of biometric devices, the technology used in biometric systems is largely driven by improved accuracy and performance levels and technological advancements in the overall healthcare infrastructure. Growing security concerns among medical insurance providers and patients in a given medical environment have sparked a global demand for biometrics solutions within the healthcare facilities, hence fueling high growth in the global healthcare biometrics market.

Reasons to Invest in Healthcare Biometrics Market

A biometric identification system is made up of a reader or scanning device – software to convert the essential scanned data into a digital form – and a database to store the biometric data and compare it with existing biometric information. Such advanced security features validate high security protection and accuracy in a repeatable manner.

Biometric systems also replace the need to use photographs, PIN codes, and passwords, and instead use physiological characteristics that commonly include fingerprints, DNA, face, or behavioral characteristics such as digital signature, walk, and his or her voiceprint. The replacement of advanced identification technology over traditional passwords/PINs methods has prevented theft, fraudulent activities, and terrorist threats across the globe. Today, with the help of biometrics, information is stored in the form of a digital record making it hard to decrypt, reconstruct, or manipulate.

All these advanced functions and market trends witnessed in this industry work as growth drivers. Mergers and acquisitions are further contributing to the healthcare biometrics market.

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Various Biometric Technologies Generating Revenue in Healthcare Industry

The healthcare biometrics market is broken down by the type of biometric modality being employed. Use of biometrics with the help of physical characteristics such as hand, signature, fingerprint, iris, face, voice, and vein provides immense potential attributes for biometric authentication.

Fingerprint Recognition Technology Market will lead until 2019

Amongst all biometric technology types, the fingerprint recognition technology is widely used and is the most prominent biometric modality across different industry verticals. This market segment is expected to comprise more than 50% of all healthcare biometrics applications by the end of 2019. The introduction of portable fingerprint scanners and a wide range of many other fingerprint recognition devices have demonstrated high growth in the healthcare biometrics market.

The automated fingerprint identification systems market segment is also anticipated to continue its dominance in the global fingerprint market. In terms of revenues, the market is expected to grow at a CAGR of more than 20% over the forecast period 2013-2019.

Current Market Statistics

Analysts at a leading market intelligence firm in the U.S. state that the healthcare biometrics market is growing at a compound annual growth rate of 25.9% (from 2013 to 2019) and is en route to reach an approximated value of US$5.8 billion by the end of 2019.

Browse Full Global Healthcare Biometrics Market Report With Complete TOC @http://www.transparencymarketresearch.com/healthcare-biometrics-market.html

About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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