The main principle of the healthcare industry is the provision of high-quality medical services to patients. However, the bureaucracy and federal regulations make health management fairly inefficient and lengthy. There is a big gap between providers of healthcare services and receivers, and every year, this gap becomes more immense due to the constant increase in the number of patients.
This tendency leads to obstacles when healthcare providers are unable to store and manage large amounts of medical data, especially taking into account personal health data are scattered over different institutions and departments. As a result, required information is not accessible and available in case of emergency.
The Benefits of Blockchain Technology For Healthcare
The Blockchain era in the healthcare sector has already begun. It has enough power to improve patient care quality and maintain the price of medical services at a reasonable rate. Blockchain opportunities for healthcare are abundant, and below, we cover the potential (and real) ways of using this technology both by healthcare providers and patients.
Data security and integrity
The ongoing amount of medical data increases every day. Information managed by medical organizations includes patient health information (PHI), electronic health records, data collected from monitoring systems and medical insurance. Blockchain allows medical organizations to verify the correctness of data and store it safely. Due to the integrity property, the written information cannot be changed or removed. No other party has access to individual patient data.
Health data of the population
Population health data refers to the medical information on a particular demographic. To understand the risks of certain diseases, it’s necessary to conduct an investigations where the numbers are usually received in an anonymized form. In many cases, personal health information is isolated and stored on multiple platforms. Due to this, the population health data becomes inaccurate or scattered. Blockchain solves this problem through operability, secure storage, data integrity, and it helps people monetize provided information via tokens.
Cryptocurrencies as a payment method
In the future, patients can forget about paying with cash or by credit cards since the use of cryptocurrencies as payments is real with Blockchain. This not only simplifies the way of payment, but also increases the security level by eliminating frauds and expelling third parties from transactions.
Traceability system for medicines
As we mentioned above, healthcare organizations pay high costs for drug counterfeiting. According to a Health Research Funding Organization (HRFO) investigation, from 10 to 30 percent of drugs in developing countries are fake, causing serious consequences, including hundreds of deaths.
The unique features of Blockchain help to ensure information in blocks is true and cannot be changed. The way of tracking drugs becomes easier and more trustworthy. However, the question of the reliability of the pharmaceutical products the companies provide is still open.
Patient health information management
According to the regulations of the Health Insurance Portability and Accountability Act, patients’ data should be private. Obviously, patients continue providing their personal information to doctors and pharmacists, but with the Blockchain apps, this process is more secure and convenient.
Theoretically, a Blockchain system can create a patient ID. Undoubtedly, all information is safe, and at the same time, in case of emergency, doctors, patients and pharmacists have access to it. What is more, a patient can provide his/her personal information to third parties, keeping it unrevealed by controlling access permissions and duration.
These are the main but not all of the revolutionary benefits of using Blockchain in the healthcare industry. This technology is becoming more popular and widespread within different business sectors, and healthcare has just started moving toward blockchain revolution. As the practice shows, its steps are extremely firm and confident, and who knows, maybe Blockchain is our true hope for immortality and unshakable health. In the near future, we’ll also experience all the benefits the ClinicAll project provides to us via the blockchain implementations.
Visit https://clinicall.io/ to learn more about the project.submitted by /u/cluecluefinder
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