5 Ways Healthcare Blockchain Is Transforming Medical Care
Blockchain technology has emerged as a revolutionary aspect that is changing different sectors significantly. These sectors include financial services, insurance, music, voting, smart appliances, etc. The entrance of Blockchain in healthcareis the new change. Yes, the future of Blockchain in healthcare is undeniable.
Blockchain has transformed different industries with its amazing data management & exchange features especially in the financial sector. With its contribution to different industries, healthcare is also looking at the scope of Blockchain in healthcare and how it is going to transform the entire industry.
So, let us understand what Blockchain is and then move on to learn how it is transforming the healthcare industry.
What Is Blockchain Technology?
It can be defined as the technology that could easily bring in tremendous changes in the healthcare industry as far as patient management is concerned. The technology would assist in the enhancement of patient care at an affordable cost. The technology can eliminate all the challenges and obstacles that are related to authentication at different levels.
Why Should Blockchain Technology Be Integrated Into Healthcare?
Talking about the integration of Blockchain in healthcare, the healthcare industry lacks a central administrator wherein Blockchain can be beneficial. Well, why do we need to do so? This is because a single database is capable of being identified easily and comprises bits & bytes. In case the information of the database is saved in the physical memory of a specific system, a person having the access to the system may corrupt the data inside.
With the help of Blockchain technology, a central administrator will not be required and it will be taken over by clever cryptography. Also, the users can manage their transactions and other information.
As healthcare handles the confidential data of the patients and needs faster access to the details, Blockchain makes the process easier. The healthcare professionals can access medical records and allow their sharing securely. In short, Blockchain provides data privacy, scalability, and access security.
So, the idea of Blockchain in healthcare will take care of the problems related to data management.
Five Ways In Which Blockchain Technology Can Be Applied In Healthcare
1. Connectivity
It develops a centralized database that is synchronized through the internet and recognizes flawless data exchange among the users & stakeholders.
2. Data Integrity
The technology helps record data and encrypts it so that it cannot be deleted or changed by anyone. Blockchain technology stores the data securely and connects it to a distributed public ledger. This process brings in a data integrity test for the user to verify the timestamp of the information (data). It means the dependency on 3rd parties is eliminated.
3. Helps in Medical Research
The scope of blockchain in healthcare is vast and it will ensure reliable and secure data exchange. So, data anonymization can be performed for the patient data existing on the Blockchain platform. This means only trusted people can access the medical data information. It will help the researchers to analyze unidentified information and request patient access to utilize their details in medical research.
4. Drug Identification
When it comes to product distribution, it requires complex unpacking, packaging, and re-packaging procedures. It makes the entire process of drug identification and procurement complex. Here Blockchain offers an efficient solution that comprises functions that helps multiple drug identification and processes to identify precise identification, traceability & source.
5. Improved Supply Chain
Health care supply chain management is a vital aspect that cannot be overlooked. Now, Blockchain transactions need to be embedded into the process related to medical devices as the transactions are stored in a public ledger. Also, each node records the transactions promptly apart from checking the sources, distributors, and suppliers of medicines. Also, the distributed Blockchain ledger helps the health care officials as well as doctors to check and verify the credentials of the supplier.
Challenges Faced By Healthcare Industry And solutions Offered By Blockchain Technology
Undoubtedly, the Blockchain revolution has brought major changes in the healthcare industry. Hence the future of Blockchain in the healthcare industry is bright. Let us look at different ways in which Blockchain offers the solutions to the challenges faced by the industry before the introduction of blockchain.
On-Time Access To Patient Data
- Here distributed ledger system helps secure and distributed access to patient health information
- Real-time updates to patient’s shared data
Fragmented Data
- The computer networks enable precise patient data via decentralized storage
- Data is accessible across shared nodes and networks
- Decentralized source of internet
Data Security
- Secure digital transaction assured which safeguards patient identity
Patient-Generated Data
- Comprehensive patient data gathered via data from wearable IoT
System Interoperability
- Decentralized Internet & computer networks across boundaries
- High-grade authenticity
Cost-Effectiveness
- The system becomes efficient with real-time processing and affordable transaction cost
- No delays in accessing data as there is no third-party app involvement.
Access & Data Inconsistency
- Access & analyze patient data via Smart Contracts
Conclusion
The future of Blockchain in healthcare will bring in considerable changes. The use of this technology is increasing among health care institutes, health care providers, and medical researchers to share large chunks of data released related to every element of life. It comes with data security and protection.
The technology can also result in the accuracy and advancement of medical research to create a path for enhanced healthcare and the prevention of diseases.
If you want to understand more details about Blockchain and how this technology can be integrated to reap its benefits into your health care app, then get in touch with Apps on Demand to build an app with Blockchain features.
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