Blockchain technology can open up a vast range of opportunities in various industries. Mckinsey estimates that blockchain will have the greatest impact on sectors like technology, finance, and media. In the following paragraphs, however, we will limit our discussion on the impact of blockchain on the healthcare industry.
We will look into the characteristics of blockchain development solutions in healthcare, analyse the challenges of the process and the advantages of the same.
Blockchain’s use in new healthcare information exchange model
The healthcare industry has become very complex these days. Now it involves patient services, hospital navigation, remote and in-house patient monitoring, care coordination, etc. But through the use of blockchain development solutions, it is possible to manage data in a more straightforward and transparent manner.
Defining Blockchain
Blockchain is a system of recording data. Being based on a distributed ledger system, the data stored in a blockchain is immutable. Due to this nature, the blockchain offers several benefits to the healthcare domain. The benefits of applying blockchain development solutions in the healthcare industry are-
- Makes the healthcare system transparent
- Enhances the security of data
- Improves data traceability
- Boosts speed and transaction efficiency
Thus, the implementation of blockchain can prove to be very beneficial for healthcare institutions.
Applying Blockchain to address the pain points of healthcare information exchange
Blockchain development solutions can effectively resolve the following issues of the HIE.
Correcting the data
Adding or updating data becomes easy with the use of blockchain. The use of blockchain development solutions also protects the data from unwanted changes. You need to create a new record with the correct data superseding the previous to remove or correct data from the chain. Due to its immutable nature, blockchain can thus be used for storing sensitive data regarding patient treatment and other transactions.
Exchange of Information
Blockchain development solutions can be used for the exchange of data between healthcare units, insurers, patients, and researchers. The blockchain can thus resolve availability and data exchange issues. It is also possible to transform data operations and commercialise data access through the use of blockchain.
Monitor health records
Blockchain development solutions can be used for identifying, monitoring and connecting health records. Blockchain can be used to control access to this data. In the coming years, blockchain would be further developed for improving healthcare.
Recording transactions
Blockchain development solutions can be used to speed up the process of transactions and increase its efficiency as well. Thus, using blockchain, healthcare organisations can track data related to funds and also have information about each of the transactions.
For facilitating nationwide interoperability
Blockchain can be implemented to optimise and secure data management for getting the most out of medical treatment progress in different areas. There are four steps to the process as illustrated below-
Step 1: Creating and Updating data
The healthcare organisations record the clinical data and the patient’s public ID in the blockchain.
Step 2: Processing and storing transactions
During this stage, each change other than personal information is recorded on the Blockchain development solutions in the public ID of the patient.
Step 3: Data Query
The healthcare organisation can ask for specific information on the Blockchain development solutions This will give them specific data on the stock that can be used for further research.
Step 4: Sharing patient data
It is also possible to allow healthcare organisations to access the personal data of patient’s by sharing the private key. The patient can share the private key for the same.
Thus, Blockchain development solutions can offer revolutionary benefits to healthcare organisations particularly in the area of data exchange. Connect with a reputed developer to have your own solution now.
Ivan Infotech 