Use Cases and Opportunities of Blockchain In Healthcare
By Maria Redka, technology writer, MLSDev.
Blockchain offers countless opportunities for growth and development of many industries. Sectors like finance, banking, government and public services, education and commerce have already taken the first steps at embracing this revolutionary technology.
One of the industries blockchain can change beyond recognition is healthcare. In this post, we will cover the opportunities blockchain offers for the healthcare sector, and the present use cases of blockchain in healthcare.
Why does healthcare need blockchain?
Healthcare industry has a lot of issues on a local, national and global levels. It has been struggling with data collection, storage, and transfer problems for a long time now. Federal regulations and rules make all the healthcare procedures lengthy and tedious. The current healthcare system does not manage patient data well. Pretty often it happens so that one patient cannot gather all of their medical records in one place and in one format quickly, or cannot gather the needed information at all.
Unfortunately, critical patient information is in most cases scattered across different healthcare institutions in different formats. What makes it even harder for healthcare providers and patients is that data management systems and security regulations often vary across different institutions and states. What’s even worse, many medical records have mistakes in them, and the outdated data management systems cannot trace and fix these mistakes. It all boils down to this: in extreme situations and in time of urgent need, it is practically impossible to access all the needed patient information easily, quickly and securely.
What can blockchain do here? With the help of this innovative technology, healthcare providers will be able to facilitate their data management processes beyond recognition. Blockchain can help healthcare providers collect, exchange, analyze and secure medical records seamlessly. It will give doctors and patients an opportunity to access any needed patient data from anywhere without tolerating the privacy or security of any party.
Can blockchain be a panacea for the healthcare industry? One thing is for sure — this technology can help the healthcare system improve healthcare services greatly without rising the costs of the corresponding processes significantly.
Blockchain and patient data handling
Blockchain can help the healthcare sector solve the issue with patient data storage. Potentially, it can cancel all the cultural, geographical, political and religious limitations that interfere with patient data handling nowadays. When the patient data is stored in the blockchain, it can be processed, managed and transferred seamlessly and securely. It means that in times of greatest need and urgency all the required data will be there to save a life.
MedRec, an Ethereum-based system, is one of the first blockchain-powered solutions that aim at facilitating patient data management. MedRec makes it easy for patients and doctors to view and manage patient data securely.