Categoria: Cryptocurrency service

CASE STUDY: PTOYMatrix A Healthcare Peer-to-Peer EMR Storage Network

In April 2023, Patientory CEO Chrissa McFarlane said that healthcare providers must be held to a higher standard compared to organizations in other industries. Her admonition came as no surprise, seeing that our health data went up for grabs among data brokers during the COVID-19 pandemic and the years following it. More than 1,700 purchasers from around the world bought 70 million PTOY tokens, the company’s cryptocurrency.

Mobile App (built on the blockchain)

• Combining cutting-edge technology, personalized coaching, and medication management.
• As a CCM & RPM Physician, you will oversee chronic disease management and remote patient monitoring, leveraging cutting-edge AI and blockchain technology to improve patient outcomes.
• In an age where healthcare data is often fragmented and inaccessible, Patientory is revolutionizing the landscape by providing a centralized platform that empowers patients and healthcare providers alike.
• Notably, the platform is already highly interoperable, allowing for seamless integration with other tools and facilitating data sharing among users, and we only expect the service to improve in the near future.
• Seamlessly integrate your health data using cutting-edge wearable tech and lab results to monitor your progress.
• These are well documented, with one of the most pressing problems being a lack of access to startup capital.

To wrap things up, we’ll offer a list of some of the pros and cons of the platform and give you a few words of advice on how you can get on board with the platform. The purchasers will be able to trade the PTOY tokens on the Bittrex, TokenMarket, HitBTC, ICObazaar and Liqui exchanges. StartUp Health is a global, entrepreneur-led company focusing on organizing and investing in new platforms, firms and projects. Need support managing cholesterol and lipid levels through comprehensive monitoring. Focus on sustainable habits that boost your cardiovascular health, energy levels, and overall well-being. Moreover, most information providers often are reluctant to share the data as they fear that the information being shared might give others a competitive edge.

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One of the core goals of the platform is to make accessing patientory roadmap healthcare data intuitive and straightforward on all levels, accommodating the needs of patients, doctors, and health providers all at once. PTOYMatrix is blockchain powered health information exchange (HIE) platform that uncovers the true value of interoperability and cybersecurity. This system intends to eliminate the friction and costs of current third-party intermediaries when considering population health management.

Want to improve blood pressure control and overall heart health with professional guidance. Take control of your cardiovascular health with Patientory’s all-inclusive Heart Health Program. Combining cutting-edge technology, personalized coaching, and medication management. Cross-institutional sharing of this critical patient information allows the care providers to avoid usual medication errors which result in decreased duplicate testing. Blockchain technology is effective to track and timestamp all the activities related to the Health Information Data and provides an immutable audit trail whilst ensuring the updated version of the record is put to use.

The Patientory Association, a global nonprofit healthcare member organization facilitates the adoption of emerging technologies in the healthcare industry. Such standards are necessary for interoperability and audibility and for transparency purposes. The Patientory Association, a global nonprofit healthcare member organization, facilitates the adoption of emerging technologies in the healthcare industry. Currently, the foundation connects healthcare industry adopters of the PTOYMatrix blockchain network which comprise the PTOYMatrix consortium.

Medicalchain

Notably, the platform is already highly interoperable, allowing for seamless integration with other tools and facilitating data sharing among users, and we only expect the service to improve in the near future. The value proposition of PTOY is intrinsically tied to the success and adoption of the Patientory platform. As more healthcare providers, patients, and stakeholders join the network, the demand for PTOY is likely to increase. This demand is driven by the need for secure data management, efficient transaction processing, and access to advanced healthcare services.

• With a unique data wallet system and a comprehensive analytics platform, Patientory is bridging the gap between patients, healthcare providers, and pharmaceutical companies, ensuring that everyone benefits from a more connected and efficient healthcare ecosystem.
• Patientory is more than a reliable solution for introducing blockchain technology to health data and analytics, which the steady user growth in eight years since its release has shown.
• Patientory laid out a roadmap of milestones that it will accomplish using the funds raised from the sale of the tokens.

Patientory is the brainchild of its African-American founder and CEO Chrissa McFarlane, who foresaw blockchain’s disruptive potential in the healthcare industry as early as 2011, a time when Bitcoin itself was still in its infancy. As mentioned earlier, Patientory uses blockchain technology not only to ensure digital safety but also as a way to monetize information, and it all revolves around the native PTOYMatrix network token — $PTOY. Another argument, however, is the similarities Patientory shares with existing electronic medical record (EMR) systems, namely its features that allow the user to create a personalized profile with their complete medical history. These similarities make switching to a blockchain-based solution easier and more attractive in itself, while the extra cybersecurity is merely an extra touch, a digital cherry on top.

Understanding the tokenomics of PTOY  provides valuable insights into its role within the Patientory ecosystem and its potential impact on the healthcare industry. By focusing on security, privacy, and interoperability, Patientory aims to transform how healthcare data is managed and shared. As the platform grows, PTOY will play a pivotal role in driving this transformation, offering a secure, efficient, and decentralized solution for healthcare data management. This is the basis of Patientory’s smart health data wallet application, which allows users to securely store their health data on its specialized blockchain network, PTOYMatrix. The HIPAA-compliant Patientory app enables health data, including medical records and wearable fitness device data, to be synced across its blockchain and accessed by users at any time they wish.

A patient-centered protocol supported by blockchain technology, patientory direct the healthcare stakeholders to manage electronic medical data and interact with clinical care teams. McFarlane founded Patientory back in 2015 and the launch of its app underscores an incredible achievement. Traditionally, sharing healthcare data has been seen as a major challenge that prohibited innovation in the industry.

The PTOYMatrix blockchain network securely stores and manages health information in real time, and such storage and management is facilitated by a blockchain based token (called “PTOY”). PTOY Token is the native cryptocurrency of Patientory, a decentralized platform focused on improving healthcare data management. Patientory aims to enhance the security, privacy, and interoperability of healthcare information through blockchain technology. By leveraging a decentralized network, Patientory provides a secure, transparent, and efficient way to manage patient data, thus transforming the healthcare industry.

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LexaTrade Review: Key Insights, Platform Performance & Is It Right for You?

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LexaTrade Broker Positive Reviews

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Advantages of Absorption Costing and Why It Matters for Businesses

This results in a higher reported net income compared to variable costing, where fixed costs are deducted in full during the period they occur. For businesses with significant inventory, such as automotive manufacturers or retail chains, this difference can impact profitability assessments. Absorption costing takes into account all of the costs of production, not just the direct costs, as is the case with variable costing. Absorption costing includes a company’s fixed costs of operation, such as salaries, facility rental, and utility bills. Having a more complete picture of cost per unit for a product line can help company management evaluate profitability and determine prices for products.

Skewed Profit and Loss

This guide will show you what’s included, how to calculate it, and the advantages or disadvantages of using this accounting method. Under generally accepted accounting principles (GAAP), absorption costing is required for external reporting. All normal manufacturing costs must be treated as product costs and subsequently included as inventory gaap, absorption costing in the financial statements. GAAP requires that direct materials, direct labor, and both fixed and variable factory overhead be listed as product costs.

• However, these opportunities can only be noticed if the information is communicated effectively to the production department.
• With such understanding, steering a business towards success becomes a more precise science than ever before.
• It’s legally required for financial reporting and paints a broad picture of long-term costs.
• Although any company can use both methods for different reasons, public companies are required to use absorption costing due to their GAAP accounting obligations.
• Because absorption costing includes fixed overhead costs in the cost of its products, it is unfavorable compared with variable costing when management is making internal incremental pricing decisions.
• This insight is also valuable input for demand planning, helping align production forecasts with cost structures.

How are fixed costs treated in cost accounting?

• These number of units are essential components when breaking down expenses into manageable categories.
• Standard costing facilitates budgeting, cost control, and performance evaluation by providing a consistent basis for measuring cost efficiency and identifying variances.
• By using automated processes, businesses reduce manual errors and improve the accuracy of inventory costs and external reporting.

In the competitive realm of the service industry, absorption costing shines as a robust tool for financial management. This method mandates including all manufacturing costs in the product’s price – direct materials, labour, and both fixed and variable overheads are essential components of absorption costing. Having explored the different cost components, let’s delve into how these figures come together in the absorption costing formula. This method involves meticulously adding direct labor costs, direct material costs, and both variable and the fixed manufacturing overhead and overheads for each unit produced. Knowing how much it costs to make your products is key to running a profitable manufacturing business.

We’ll explore real-world examples, contrast it with variable costing, and explain why absorption costing isn’t just a reporting requirement—it’s a powerful lens for operational and financial insight. Overestimating or underestimating units produced can skew unit costs, leading to inaccurate product pricing and profit calculations. Regularly reviewing production data ensures that overhead allocation aligns with real-time operations, maintaining cost accuracy and supporting informed financial decision-making.

Integrating absorption costing into an ERP system simplifies financial tracking and cost allocation. ERP systems help streamline the management of manufacturing overhead and track direct and indirect costs with precision. This characteristic of absorption costing can lead to differences in reported profits compared to variable costing, especially when there are changes in production levels and inventory levels. Handling absorption costing means you need to accurately track all your manufacturing costs and allocate overhead correctly.