The time has finally come for us to announce what Data Lake has been working on for the past months: brace yourself as the company introduces Consentify, the first blockchain-based patient recruitment & consent management platform that will democratize medical research!
Background and context
Unlocking the potential of medical data is crucial, yet the current landscape of patient recruitment and data access is plagued by inefficiencies, is intransparent or even unethical. The fragmentation within research organizations, each building its own hermetic referral network, leaves the majority of healthcare providers excluded.
Researchers grapple with friction in tracking referrals, compensation, and ensuring participant engagement, leading to a scarcity of participants in research projects. Fear, fueled by compliance and data privacy concerns, deters many providers from participating in patient recruitment programs for data acquisition.
As a consequence, nearly 80% of clinical studies experience delays, and the cost of patient recruitment comprises a staggering 40% of overall clinical trial expenses. With recruitment costs ranging up to $5,000 per patient, the global challenge of patient recruitment for clinical trials and data acquisition has surged to a $100 billion problem.