Blockchain in Healthcare | Beginning of a Decentralize Healthcare

Blockchain in Healthcare

Blockchain technology is very revolutionary and it has the potential to change the way we store data, interact with one another, and how we treat patients. Yes, blockchain has great potential, especially for the healthcare world. With that in mind, here are some of the blockchain applications for healthcare and how this technology has the potential to really change the world.

Creating large scale databases with patient information

Since the blockchain system is very secure, creating large scale databases with patient information is very helpful. Patient data can be stored remotely or securely, and this brings in amazing potential. You’re eliminating the middleman such as health information exchanges. Instead, you keep all the databases within the blockchain and they can be accessed remotely at any given time. This speeds up the process and you can offer more customized solutions for every patient.

The posits blockchain can become the next big thing in healthcare innovation

This is mostly related to payer contracts and payments. If a healthcare company is dealing with a contract and health plan, the blockchain can be used to verify and also authorize the contract. That’s because the blockchain can help create or manage secure contracts. As a result, there’s no more hassle regarding health plans or what was paid. You get more transparency, small administration costs, and quick claims. It leads to less money being wasted and faster claims in general.

Connecting all healthcare work in a single place

There are numerous solutions in development that use the blockchain to connect patient ID software, EMRs, and even wellness apps in a single place. This has the potential to bring in more efficiency and value, all while providing users with very good experience in the long run.

Improved medical supply chain management

By using the blockchain, healthcare and pharma companies can decentralize the process and bring in full transparency. This way there’s no need to worry if medical products come from a legitimate supplier or if anything has tampered it. You can have a drug ledger in the blockchain, and this will show the point of origin. It will also store all data related to the product, who handled it, and so on. Getting this transparency is very important, and it will certainly help people quite a lot. You can go even further by monitoring waste emissions and labor costs.

Conclusion

Using the blockchain for healthcare companies is a very good idea. It seems like the perfect application since healthcare businesses process a lot of data and they do need as much transparency as possible. Information is easier to store and manage, not to mention you don’t have to worry about having someone access private information and content. It’s the best of both worlds and it certainly brings in front a lot of potentials. You just need to take that into consideration and the results themselves can be very impressive. There are already dozens of companies offering blockchain-focused services for healthcare, and things will continue to expand in the next few years!