Blockchain is a peer-to-peer distributed ledger technology that helps obtain transparency and trust. Due to these two benefits Blockchain technology is integrated in the healthcare industry. From better pharma supply chains to removal of third parties, this distributed leger technology presents many benefits. Blockchain’s opportunities in patient-data portability, interoperability, and administration can provide answers to various challenges in the Healthcare industry. Swipe through this presentation to know more.
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2. What is Blockchain technology?
Blockchain is a peer-to-peer distributed ledger technology that helps obtain
transparency and trust.
The three main components of Blockchain technology are a distributed network, a
shared ledger, and digital transactions.
Blockchain presents a means for recording and verifying data in tamper-proof
means that is public to all.
3. Healthcare- How does Blockchain fit
in?
Healthcare Blockchain collects information from various stakeholders and personal
devices and sensors.
Challenge 1: Fragmented data
Blockchain Opportunity:
• Decentralized storage for patient data
• Shared data across all the network and nodes
Challenge 2: Access to patient data
Blockchain Opportunity:
• Distributed and secure access to patient data across the healthcare system
• Timely updates with shared data
4. Healthcare- How does Blockchain fit
in?
Challenge 3: System Interoperability
Blockchain Opportunity:
• Decentralized network of users
• Enables transparency and authenticity
Challenge 4: Cost-effectiveness
Blockchain Opportunity:
• Reduced transaction costs with smart contracts
• Elimination of third parties, thereby reducing time lags
5. Blockchain Use-cases in Healthcare
1. Securing patient data
There are no standard procedures for patient data management among
individuals.
Blockchain helps the users to share information across a single secure platform,
requiring permissions to release.
2. Reducing costs
There are a number of stakeholders involved in the Healthcare industry while
making transactions.
Blockchain removes third parties by making smart contracts and digital
transactions that are tamper-proof and shared across entire Blockchain networks.
6. Blockchain Use-cases in Healthcare
3. Drug traceability
Counterfeiting is a major issue in the pharma supply chain. 30-40 percent of the
drugs sold in developing countries are counterfeit posing serious health issues.
Blockchain provides security in the process by making the entire supply chain
visible.
4. Clinical trials
The data produced from the trials is passed through many hands reducing the
standardization of the data.
Blockchain in the pharma industry provides proof of existence and verification
of trial data and allows secure data sharing among research scholars.
7. Conclusion
The Healthcare industry is a complex network of various systems that has many
interconnected entities.
Considering Blockchain’s capabilities, it is one of the most secure and reliable
technology for the Healthcare industry.
Blockchain’s opportunities in patient-data portability, interoperability, and
administration can provide answers to various challenges in the Healthcare
industry.
8. Why Debut Infotech?
Debut Infotech is a reputed app development organization having a rich talented
pool of Blockchain app developers.
Here are a few reasons why you should hire us for your Blockchain app
development for the healthcare industry:
Best-in-class technologies
24/7 technical support
Proficient team of developers
Paramount engagement model