Beyond the Block: Applications of Blockchain in Healthcare
In recent years, healthcare has seen a lot of evolution in terms of technology and medicine. Healthcare uses various technologies like Artificial Intelligence, Electronic health records, wearables, and many more. The technology has brought more efficiency and accuracy in all the processes of medication. In this article, let us learn about one of the useful and effective technologies i.e., Blockchain. Throughout this let us discover what blockchain is, how it works, and its application in the healthcare sector.
What is Blockchain?
Blockchain is a database technology in which all the information or records are stored in an advanced format. It is a digital ledger that stores all the records of transactions and the blocks are not altered or modified, each block is linked to the next block which forms a long chain.
In healthcare, records of patients can be stored in blockchain. It maintains accountability and healthcare data security, the records of customers or patients cannot be modified. Blockchain is used in pharmaceuticals for storing medicine data and to track the order of medicines which is very helpful in management. This network is decentralized hence the information stored can be used in the hospital machine and also these devices can be used for estimating medicines, illnesses, and therapies. Blockchain technology is used to manage health records and patient care easily, it also reduces efforts of monitoring along with the efficient usage of resources and time of both patient and healthcare person.
Applications of Blockchain
Healthcare supply chain management
Counterfeit medicines are a threat to public health and some pharmaceutical supply chains do such malpractices. Through blockchain technology, one can trace the order and history of each drug maintained from the process of manufacturing to the distribution address. This transparency of blockchain can be easily used to reduce malpractice and maintain public health.
The information storage of data needs to be secure and confidential, there will be a lot of data generated before and after the patient observation like blood tests, illness reports, medication, etc. All this information can also be used by healthcare providers for future cross-verification of information with the original data stored in blockchain.
Transparency and security of data
Blockchain maintains high safety and security of data, it enables the safe data exchange mong medicine providers. They can analyze the diagnostic prescription, cost-effectiveness, and the healthcare system. It can also enable the safe reach of medicine without any malfunctioning and can even assist the patient in diagnosis. As individual patient data is confidential if hacked then it can be used for various purposes and causes the trait to the society.
Time and cost-effective
Implementation of blockchain reduces the data transformation time and is also cost-effective. It solves tasks and issues faster due to its chain system and works quickly in the authentication and verification of patient medicine data. As it is a distributed network storage of transaction history is easy, every block in this network verifies the record of each data stored.
A blockchain checks the access of medical devices to doctors when required. Doctors have several works to do with the help of blockchain certain tasks like maintaining the room temperature, availability of medicines, usage of bed, etc. IoT technology when combined with blockchain can make an effective enhancement in a supply chain with tracing and transparency of data.
Easy billing and payment process
The complex nature of healthcare is the billing process through the blockchain system it can be made easy for both patient and provider sides. Blockchain with its decentralized process can manage financial transactions securely and effortlessly. The automated billing process using smart contacts and self-programmed contacts reduces the administrative burden along with less error occurrence.
Blockchain through its decentralized monitoring system can make an effective and noteworthy impact in all sectors. The usage of Blockchain technology emerges as a fire of innovation. Especially in healthcare, its implementation can be a solution for supply chain management, the documentation of all the records and transaction history will provide transparency and security. Enabling this technology not only enhances operational efficiency but, contributes to the improvement of patient outcomes.