Blockchain in healthcare today has not yet been fully deployed to its maximum potential, but it is already starting to generate great expectations among businesses and health care providers alike. It is expected that in the near future, this distributed ledger technology will impact an even greater number of healthcare-related topics.
If you are in the health care sector, it might be time to analyze how Blockchain technology will impact your company. Different aspects like digital health, health information, and even the medical supply chain are prone to disruption as a result of this technology. At the center of them is medical data, the glue that holds Blockchain technology together.
Data, when used correctly, has the power to transform entire industries, healthcare included. Through the use of Blockchain and data, there is great potential to transform how healthcare works. Some of the most important of these developments are occurring in the field of MedTech software development.
Although many Blockchain-based innovations are still in a stage of proof of concept, it is important to take notice of them in order to avoid being taken by surprise. Others are already showing how they are impacting healthcare. In this post, we discuss some of the most important use cases of Blockchain in healthcare today and the impact this technology can have.
Can Blockchain Be Used in Healthcare Today?
Let’s start from the beginning. Blockchain is a distributed ledger technology. This means that information isn’t centralized in a single place but rather throughout different devices. This network of devices is known as a Blockchain. One of its most important properties is that no single user can alter the chain, making it very secure. A Blockchain can be developed to follow certain protocols, making it an interesting alternative to manage health-related data.
The results of Blockchain technology can be seen across a number of industries. Healthcare is one of them. Today, many companies are implementing innovative and experimental Blockchain-based solutions that will benefit different healthcare stakeholders in various ways. Most of these Blockchain healthcare solutions are data-centric and rely heavily on software. This poses certain challenges.
For a start, companies that implement Blockchain-based solutions in the healthcare industry will have to make sure that patient data is managed properly. It is necessary to adhere strictly to HIPAA and HITECH acts. Additionally, Blockchain in healthcare needs to guarantee the right Cloud security protocols in order to safeguard against potential digital threats. This will pose a new set of challenges for healthcare providers.
Although health issues have historically been addressed mostly through traditional medical equipment, Blockchain offers the possibility to impact the sector through better processes thanks to digital health solutions and the use of data. Building powerful Blockchain-based health information networks can benefit the entire healthcare industry.
What Is Healthcare Blockchain?
Blockchain in healthcare refers to the use of this distributed ledger technology for MedTech solutions. By implementing Blockchain in healthcare, health processes can be automated and improved, helping them become more efficient and less prone to errors.
In a time when health costs seem to surge and medical professionals cannot keep up with the needs of patients, this technology has a great potential to help solve some of the healthcare industry’s most pressing problems.
How Is Blockchain Technology Used in Healthcare?
There are many different ways in which Blockchain technology is helping address the healthcare industry’s problems. These are some of the companies using Blockchain in healthcare to lead this process.
The following are some of the most important uses of Blockchain in healthcare:
- Health information sharing
- Wearables
- Medical records and data
- Clinical trials
- Consent management
- Supply chain management
Health Information Sharing
Blockchain technology opens up the possibility for patients to grant medical professionals and service providers open access to their data in order to track important information that may help improve a specific treatment or monitor a given medical condition.
MedTech Wearables
The use of health-tracking wearables allows patients to monitor real-time information that can be uploaded to the Blockchain and used to improve their health without having to consult the doctor directly.
Medical Records and Health Data
Just like it is possible to share patient information with this technology, it is also possible for patients to store their data in a healthcare Blockchain with open access to specific health professionals. This makes the process of requesting records easier and more secure.
Clinical Trials
The data of trials can be easily stored and shared using Blockchain technology. This has the potential to improve how trials are conducted by making them traceable and easy to access.
Consent Management
Patient consent can easily be requested and accessed when needed by certified professionals through Blockchain’s distributed ledger technology.
Supply Chain Management
Managing any supply chain in the healthcare industry is a daunting task. There is a lot to keep track of, and any mistake can literally cost lives. Blockchain in healthcare has the potential to help solve many of the problems encountered in managing healthcare supply chains.
What Could Blockchain Mean for Your Health Data?
Blockchain in healthcare today has an important role to play in each and every one of our lives. Processes that use this technology have the potential to become more efficient, helping address some of the healthcare sector’s most important needs through the strategic use of data.
Digital health will become more important as new technologies gain popularity and show their value to patients and the different stakeholders involved. For you, as a user, there are many opportunities that will certainly benefit your well-being.
In case you are a company looking to develop a specific use of Blockchain in healthcare, it is best to contact an experienced software development company that can guide you through the complexities of such a project. Although it might not be an easy task, it will surely be one with the potential to make the world a better place.
