Transforming Healthcare by Leveraging Blockchain Based Solution

One of the primary areas where Blockchain is expected to play a major role is healthcare. Currently, Healthcare in India and across the world is beset with several problems, dealing with lack of security, trust issues and the existence of middlemen. Also, several players such as doctors and pharmacies, to insurers and end consumer are involved in the healthcare supply chain ecosystem. Each has its own disparate data base, and in many instances, it is a major challenge to share accurate information in secure way. The lack of interoperability is therefore considered as the biggest pain point of the healthcare industry.

How Blockchain solutions can be of help?

Blockchain in healthcare has the potential to transform the healthcare landscape, by making the healthcare system more patient centric. Using Blockchain, it could be possible to provision a new model of health information exchanges (HIE) altogether, by providing equal access of electronic medical records to the parties involved, while ensuring transparency.

Enabling security and trust

Today, when a patient with a critical illness, enters a hospital, the first thing that a doctor in every hospital does is run a battery of expensive tests on him. This, irrespective of the fact that the patient might have got the same tests conducted in some other hospital. The lack of interoperability, or the ability to retrieve information from another hospital, results in loss of time and money. And, in certain critical instances even the loss of life. With a Blockchain-enabled solution in place, issues related to data security and interoperability are resolved.

Data Provenance and Integrity

With the number of patients queuing up hospitals exponentially, it is increasingly getting harder for hospitals, and other health care providers, etc., to store and process information related to patient health records, medical insurance claims, data collected from IoT, and other monitoring devices. By providing a secure information sharing mechanism, Blockchain provides both the healthcare providers and the entities a means to verify the authentication of data.

Drug Traceability

Preventing counterfeit drugs from entering the value chain is a major challenge for the healthcare sector which can effectively be tackled by Blockchain.

Conclusion:

Despite several advantages offered by this technology, healthcare providers are reluctant to implement Blockchain in their organization due to the lack of knowledge. This is where the services of a Blockchain development company could be enlisted. Blockchain-enabled solutions are the order of the day. These not only prevent data breaches, but also are the most efficient, and reliable way for storing and recording sensitive data.