How does Blockchain help in the healthcare industry?

Some primary concerns of the healthcare industry today are accurate maintenance of medical records, patient identification, data interoperability, and ensuring suitable supply chains. Blockchain technology can pave the way to a set of solutions that solve problems existing in the healthcare sector today.

As a decentralized currency shared in private, public, or hybrid digital ledgers to maintain records across the authorized network of users, blockchain can be used to boost the healthcare industry in the following ways:

Data Integrity of Patients

Despite the advanced technology used in medical sciences, patient records are still not uniquely identified. Paper records can be taken over and maintained through blockchain, which will eliminate the problem of decentralization of patient records and patient identifier. A downside to unsatisfactory patient identifier techniques is that electronic health records can cause scams in every patient care organization.

The features of blockchain such as hash value and crypto algorithms help in identification of the patients. Besides, blockchain professionals can personalize the solutions according to the needs of the industry. The reports can be securely accessed by nurses, lab technicians, pharmacists, radiologists, and other healthcare practitioners to serve patients better. 

If patients’ logs are maintained on the decentralized platform among an accessible network of users, the pharmacists’ and technicians’ work becomes easier. Furthermore, patients can recognize whether the medical drugs provided are recommended and prescribed by physicians and medical associations.

Research Scholars in Data Integrity

For a group of patients, data integrating can facilitate scholars and researchers to get in touch with the treatment plans or give solutions to medical drugs depending on the record history. Patients can also get updated on the network if a new drug has been discovered or proved as a curative for a particular disease...Read on to know more.

 A list of industries in which blockchain technologies can be applied are:

•   E-Commerce Industry

Blockchain can legitimize small businesses to prove their worthiness over e-commerce websites. Encrypted digital currency is more secure than credit cards, and it is a very flexible payment tool. Blockchain’s distributed ledger can protect consumer rights recorded on the blockchain without it being tampered.

•   Finance Industry

Bitcoin is a digital currency formed from blockchain technology. It can be transferred from one point to any other point in the world in less than an hour without the use of any third party organization. It is decentralized, and it cannot be carried out without the permission of a centralized organization. It is transparent, and all the transaction records are public via a distributed ledger technology.

Check out: Top Blockchain Technology companies

•   Social Justice

The enterprises and agencies have implemented the technology to securely record and verify inventories, monitor resources, and redistribute assets while promoting the sharing economy. Blockchain can contribute to the conditions that promote equality and prosperity by encouraging sharing economies.

•   Gaming Industry

Blockchain is applied in the video gaming industry as a payment mechanism and a gateway for making in-game purchases. Bitcoin transactional technology can be utilized to create a personalized account and handle all the in-game transactions conducted. Blockchain is also used for transactions of rewards obtained in the game as a backbone function.

•  Transportation Industry

Scientists have a hope that commute times, vehicle emissions, and traffic congestion can be tackled with the use of blockchain and IoT in public services like street signs and traffic lights. The blockchain technology also possesses the potential to provide a solution for convenience problems like vehicle parking charges, traffic ticket payment, and accident supervision.