User:Kumaresan Mohan/sandbox

Health Wallet
In today's technological world, a health wallet is a digital platform or application that allows individuals to store and manage their personal health information, such as medical records, prescriptions, vaccination records, medical insurance, etc. in a secure and accessible manner. Some health wallets also include features for tracking personal health metrics, such as exercise and sleep patterns, and for connecting with healthcare providers. The goal of a health wallet is to give individuals greater control and access to their health information and to facilitate communication and coordination between patients and healthcare providers.

Health wallets will be the future of the healthcare industry, as they can provide individuals with greater control and access to their health information, and can facilitate communication and coordination between patients and healthcare providers. Allowing patients to easily share their health information with doctors, hospitals, and other healthcare or medical service providers, health wallets can help to improve the quality and efficiency of healthcare, as well as reduce costs.

Increasingly, digital platforms and apps, and health wallets will be making use of basic medical financial transactions, which also need to authenticate patient credentials and hospitals or medical companies’ credentials in a secure manner. This system will gain more popularity in the digital world as a “Health Wallet”.

Role in Future
Health wallets can play a role in empowering patients to take a more active role in managing their health and wellness. It is important to note that there are challenges that need to be addressed before health wallets can be globally adopted. For example, standardization in the way that health information is stored and shared can make it easy or difficult for different health wallets to communicate with each other. In addition, they must be global acceptance and awareness about the security and privacy of personal health information stored in health wallets. These to be addressed to ensure that health wallets can be used safely and effectively.

Technology
A Health Wallet has both software and an information component, like any digital wallet. The software provides security and encryption for personal health care information and for every data transaction. Health Wallets are stored on the client side and are easily self-maintained and fully compatible with an organization that creates personal records and maintains them on its servers.

Server-side wallets are gaining popularity among major health care services providers such as a doctor of medicine, ayurveda, homeopathy, podiatrist, dentist, chiropractor, clinical psychologists, optometrists, nurse practitioners, etc. due to the security, efficiency, and added end-users, information component is basically a database of user information. This information consists of your residing address, billing address, bank accounts, payment methods chosen like a credit card, debit card, UPI, and other information in addition to all the medical records, any long-time illness, allergies, surgery records, etc.

Health information via any smartphone like Android, Apple, or BlackBerry or via laptops and computers using apps and websites respectively and will be accessed with 1-lever or 2-level security authentication. Health Wallets will use a variety of technologies to securely store and manage information like any digital wallet, such as:


 * 1) Biometric authentication - A technology that uses unique biological characteristics, such as fingerprints or facial recognition, to verify the identity of a user.
 * 2) Encryption - A method of securing data by converting it into a code that can only be read by authorized parties.
 * 3) Cloud-based infrastructure - Allows storing the data on remote servers and accessing them through the internet.
 * 4) Blockchain technology - Decentralized, distributed ledger technology that allows for secure, transparent, and tamper-proof transactions.
 * 5) Secure Element (SE) -  A small chip embedded in a mobile device that stores sensitive information, such as financial data, securely. It is isolated from the main processor to prevent unauthorized access.
 * 6) Near Field Communication (NFC) -  A short-range wireless communication technology that enables devices to exchange data when brought close to each other. It is used to make contactless payments and other transactions.
 * 7) Tokenization - A process of replacing sensitive information, such as a credit card number, with a unique token that can be used for transactions without exposing the actual data.

All these technologies are used to provide multiple layers of security for digital wallets and to ensure the protection of sensitive personal and financial information.

Size of Health Wallet Industry
The digital healthcare industry is projected to experience significant growth in the coming years and is expected to reach a global revenue of around $500 billion by 2030.

This growth is driven by a number of factors, including an aging population, an increasing prevalence of chronic diseases, and the expansion of digital technologies in the healthcare sector.

The use of telemedicine, remote patient monitoring, and mobile health apps is expected to increase, as well as the use of artificial intelligence and machine learning in medical treatments and diagnoses. Additionally, the integration of digital technologies in the pharmaceutical industry is also expected to drive growth in the industry. However, it's worth noting that predictions are subject to change due to various factors such as economic, political, and technological developments, so these numbers should be taken as an approximation rather than a definitive answer.