3 Ways Blockchain Is Helping Healthcare


3 Ways Blockchain Is Helping Healthcare

Beyond a means for securely sharing patient health records, blockchain has impressive applications in other areas in healthcare.

Healthcare, like so many other services and industries, relies on secure and efficient data-keeping and distribution. Blockchain technology has become one of the new solutions to help the healthcare sector in this way. At its core, blockchain facilitates the confidential exchange of information, and it acts as a record of all who access and adds new information to a shared ledger. The recordkeeping capabilities of blockchain yield abundant practical applications to the patient-centric or physician-patient relationship aspect of healthcare. However, that’s just a small fraction of the potential help blockchain can offer to other healthcare-related sectors.

Administrative Accuracy

Beyond physicians, pharmacies, and other specialists collaborating to manage the care of a patient, there is a lot of administrative work that needs processing to facilitate this care, as well. Hospital administrative staff, the payer (often the patient), and the health insurance representatives also rely on the quick and accurate exchange of information to work in conjunction with the care and treatment plans set out by the medical professionals. Implementing blockchain technology works to improve coordinated efforts between all stakeholders. In turn, there are fewer delays in critical communication and more accurate records of patient information.

Drug Development and Distribution

Another benefit of blockchain is that the nature of a shared ledger keeps all stakeholders accountable for changes and transactions. Drug development and distribution, in particular, need this type of transparency when managing the vast supply chain of pharmaceutical products. When it comes to pharmaceuticals, the industry is wary of counterfeit drugs and false distribution reports. The decentralized recordkeeping system, which relies on concurrent data “agreements,” makes committing fraudulent acts not only difficult but traceable.

Reporting Research

The healthcare industry has come far due to the breakthroughs and discoveries medical research has given them. Unreported findings, along with falsified data or other unethical manners of research reporting, create gaps in knowledge for healthcare professionals. Not to mention, it also puts patients at risk. A secure database of clinical and medical trials and results can address these issues. Findings and patient outcomes would be logged correctly, made unchangeable, and made accessible to more researchers — with the appropriate measures taken to uphold patient consent. As a result, medical research is conducted more ethically, and more people can use research findings to advance the healthcare field.

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This entry was posted on Friday, January 10th, 2020 at 4:47 pm. Responses are currently closed, but you can trackback from your own site.