After taking the finance and business segment by storm, Blockchain is now all set to transform the healthcare industry. Ever since its establishment, there has been a tremendous buzz around the idea of Blockchain and after witnessing exceptional results that Blockchain Technology has achieved for the Finance sector, healthcare giants cannot resist but consider approaches to incorporate Blockchain tech within the healthcare sector. In fact, Blockchain has already introduced in the healthcare industry, and there are various Blockchain applications to consider for this statement.
According to Statista, about 55% of healthcare applications and organizations will have combined the Blockchain tech within their infrastructure by 2025.
The healthcare sector generates a huge amount of critical data that most of the time remains dissipated and disorganized across various systems. The absence of appropriate and suitable infrastructure further aggravates this issue, because of which, healthcare providers are not being able to access significant information at the times of need. The unavailability of a centrally monitored and administered system makes the healthcare data open to violation and fraudulence. If data is stored inside a specific physical machine, then anyone who has access to it can change the data and misuse it or even manipulate it.
Healthcare Blockchain Solutions can be divided into five major modules:
To blend Blockchain in healthcare, first, we need to recognize the scope of the data and where and how it is being produced.
At each phase of medical treatment, whether it is a consultation, diagnosis, or surgery, healthcare companies generate delicate and critical medical data.
Data Enhancement is a process to add value to strengthen the data quality. Patient’s health records ought to be perfect, secure, easy to understand, time-stamped, and organized. Storing unorganized data could lead to instabilities, delays in the treatment process, and inefficiencies.
Blockchain can eliminate the risks related to the centralization of data by storing the digital health records over multiple nodes within the network. Once the data is stored, it can be consumed by various healthcare Blockchain vendors using smart contracts.
Smart contracts confirm the implementation of the business rules, consistency necessity, and the user’s will before the data is shared or retrieved.
Stakeholders involved in the patient’s treatment can utilize the stored data with the patient’s permission. Smart contracts will assure a transparent, consistent exchange of the information. If, the user refuses to exchange the information; no one could get the access to patient’s health records.
Nowadays, Healthcare data is generated using different technologies like AI, IoT, or ML. The generated data can be used for various reasons, including disease prevention and cure, drug development, and clinical experiments. But the centralized strategy for maintaining the data could hamper the patient’s privacy. Blockchain could be utilized to bring trust in the clinical experiments and medical research process.
For instance, if a research company wants to get the analytics for HIV disease, smart contracts would allow them to access details like HIV type, most-affected city or country, gender, and age group while keeping the personal information of patients unrevealed.
Personal Health Wallet:
The Blockchain itself can deal with the overall security, flexibility, and versatility of the medical data. In recent healthcare scheme, patient’s reports are spread over various systems which are controlled by various IT divisions. A personal Health wallet helps patient to own and effortlessly deal with the health records. A patient can share his or her data with anybody with the assistance of personal health wallet, generally, the clinicians to look at and alter the data. Also, this wallet can be connected with wearable devices for easy recording and sharing health records with clinicians.
The medical researchers get the chance to study data from worldwide medicine and patients. It makes information sharing effortless following all safety and privacy standards so that medical researchers can take a shot at medicine and health reports. It is helpful for uncommon illness or drug side effects that impact a small number of people. Blockchain Technology enables better data circulation which provides better diagnosis, care, and research.
Transparency in Telemedicine:
Blockchain opens up numerous opportunities for the patient to connect faster with doctors across geological boundaries to offer better healthcare services and promote awareness about diseases and treatments. It is anticipated by 2020 the vast majority of the interactions in the healthcare industry will occur on mobile devices. The transparency in the telemedicine market working towards bringing closer the initiatives in the value-based connected care.
Clinical experiments discover the effectiveness of specific drugs which cure specific diseases. During such experiments, researchers collect and record huge information about statistics, test results, reports, etc. Blockchain Technology enables health practitioner to confirm the validity of any data recorded in the system. It offers proof-of-existence by including data in the form of transaction and approving the data by all connected computers. This allows storage of data in a secure way, making it impossible to manipulate the data. The decentralized feature enables the patients to have exceptional control over critical clinical data.
Population Solutions for Government:
Blockchain Technology assists the government in understanding what is happening with the current patient population so that they can proactively control the future population needs and trends by arranging medical care and services in a precise manner. It will support any government in achieving three major goals of reducing healthcare costs, enhancing the standard of care, and accompanying the overall patient experience.
Patient Engagement & Experience Management:
The Patient Engagement & Experience Management connects healthcare decision-makers, clinicians, and IT experts together for a deep-dive on how technology is helping to make patient care better through patient fulfillment, empowerment, commitment, and experiences.
Care Coordination System:
Care coordination includes intentionally systemizing patient care activities and sharing data among all of the member concerned with a patient's care to attain safer and more effective care. This implies that the patient's needs and preferences are known early and communicated at the right time to the right people and that this information is used to give a secure, suitable, and effective care to the patient. Simplify and accelerate payments to healthcare providers worldwide using Blockchain Technology.
Being one of the leading Blockchain Development Companies in India, Softlabs Group lends a helping hand to healthcare companies develop innovative software solutions. We use cutting-edge technology such as virtual reality and artificial intelligence to revolutionize the healthcare industry. Our experts deliver Healthcare Software Solutions that improve the efficiency of hospital operations and the effectiveness of treatments.
We offer a strong track record of Web Application, Mobile Application, Software Application Development, and complex System Integrations.
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