Blockchain as Panacea to Healthcare Pitfalls

Blockchain as Panacea to Healthcare Pitfalls

Healthcare Tech Outlook | Monday, February 11, 2019

Advancements in the healthcare sector have a clear and direct impact on the patients and their health. Keeping the same in mind developers stride towards embedding new technologies in health tech which will improve clinical operations, patient record maintenance, diagnosis, and various other operations. The blockchain is one such technology in which lies the potential to take the sector a step ahead in automation and digitalization. The distributed ledger gained popularity because of bitcoin and other cryptocurrencies and now is being embraced for its features—immutability, authentication, encryption, and decentralization—in various verticals.

EHR Automation

Electronic health records (EHR) are a digital database of patients’ health data stored in ledger accessible by doctors, surgeons, and clinical staff to comprehend their medical history for better treatment. Blockchain ledgers can be a boon to automate the EHR maintenance system. The distributed ledger allows authorized entities of EHR to access the data from around any corner of the world and automatically forms a chain of data blocks giving track of all transactions. Immutability disables tampering the data ensuring its complete authenticity. Such distributed and authentic EHR will facilitate patients to get medical assistance remotely from the best surgeons or doctors across the globe.  

Check out Healthcare Tech Outlook's Top EMR/EHR Solution Providers - eClinicalWorksGEMMSLin Software,... 

Agile Medical Insurance Claims

Smart contracts of the blockchain network can be optimized for agile and automated insurance claim procedure. Terms of agreement of the insurance can be programmed into algorithms of smart contracts that will get executed only when a specific condition is met. This automated claim handling process will save the time of both involved entities and injects transparency at the same. Smart contracts can also be applied in medical payments such as automated payment transaction in the pharmaceutical supply chain. 

Validation of Drug Provenance

Healthcare sector has always strived to validate the authenticity of drugs. IoT devices combined with blockchain seems like a panacea to the same. Distributed ledger will store data directly from IoT devices in real-time that cannot be tampered during the supply chain allowing the end-point entity to validate the provenance of drugs. Optimizing blockchain for drug authenticity will make it a weapon against drug frauds.

Weekly Brief