Blockchain In Healthcare: 10 Best Use Cases
Blockchain In Healthcare: 10 Best Use Cases
Healthcare can be an industry that is pretty complex and complicated. In terms of safety, performance, and expense, the structures put in place for our health are outdated. Cases for use in blockchain healthcare are found by the day and the entire healthcare system can be completely overhauled with them. Several healthcare and blockchain companies currently working on or have also released blockchain-based systems for both professionals and patients to improve healthcare.
Blockchain is becoming a valuable tool for health care by decentralizing patient health records, monitoring pharmaceuticals, and expanding payment options, pioneering the industry around the world.
Improved Medical Record Access
One of blockchain’s most successful healthcare use cases is the management of patient data. Health agencies tend to separate medical records, making it almost impossible to assess the medical history of a patient by contacting their prior care provider. This method can take a considerable amount of time and can often lead to errors caused by human error.
Developed on the Ethereum blockchain, MedRec is a “technology that prioritizes patient care, offering a clear and open view of medical history.” MedRec aims to store all information about a patient in one place, making it easier for patients and doctors to view it. Providers retain the blockchain in their current design through the process of Proof of Authority (PoA).
Companies like SimplyVital Health has two blockchain-based projects. According to SimplyVital Health CTO Lucas Hendren, “ConnectingCare uses care planning and financial analysis to help bundled payment providers gain insight into what relates to patients as they leave the hospital.” It is currently on the market to help health care providers decide how much care a patient would cost them while bundled through multiple organizations.
SimplyVital Health was able to gather data on the blockchain after the release of ConnectingCare and decide what was necessary for their next project, Health Nexus. Health Nexus stores knowledge for all parties to access a patient on a blockchain. It may also allow employees to sell their information for revenue to researchers.
Medical Record Keeping
PhrOS has recently been released by the Taipei Medical University Hospital and the Digital Treasury Corporation (DTCO). It aims to improve transparency among medical institutions by placing all the medical information of a patient on a blockchain.
It includes pictures and various information about the condition of a patient. Doctors and patients themselves can access the data via a mobile app. Decentralized Ledger Technology (DLT) also increases the security of medical information.
Can Be Used For Relief Efforts
Using Hurricane Maria recovery efforts as a reference point, the Defense Department (DD) together with the Defense Logistics Agency (DLA) analyzed blockchain’s possibility of future relief efforts. The DLA is currently tracking logistics through centralized systems divided among multiple agencies. It makes it difficult for relief providers to work effectively together.
A blockchain-based system would make data to be appended and tracked via a ledger, offering a live feed for the relief efforts of multiple agencies. It is capable of saving lives and money.
To Stop Counterfeit Drugs
Tens of thousands of people are estimated to die each year as a result of illegal drugs. PHarmaTrust is planning to end this with its blockchain.
The blockchain of FarmaTrust will be split into four different parts. Regulatory compliance benefits pharmaceutical companies by ensuring that they operate under government guidelines. Track and trace the use of the blockchain for inventory management wherever it goes. Supply Chain Visibility monitors if a drug has been altered or changed in any way. Finally, the Consumer Confidence App enables customers to see their medicine’s lifecycle.
To Make Electronic Health Records More Accessible
It can be difficult to manage electronic health records (EHR). For a patient, the EHR of one healthcare provider can vary from the other provider of the same patient. By using the Application Program Interfaces (API) and blockchain, MTBC plans to improve that. The aim is to place control in the hands of the patient. A patient will be able to allow information to be moved from one doctor to another. The blockchain runs on a hyper ledger program that is currently available!
Tracking Clinical Trials and Pharmaceuticals with Blockchain
Multinational supply chain Internet of Things supplier Ambrosius currently offers on its website a range of blockchain applications. The company, moreover, is very keen to expand its uses for the pharmaceutical industry. Actually, the organization is in negotiations with major pharmaceutical manufacturers about the introduction of a pilot program using their current products.
Tracking Medical Credentials with Blockchain
Hashed Health, a health-focused blockchain consulting company, aims to make qualifications more open and easily accessible in the health sector. Chain participants can check the qualifications and track records of various health practitioners with Professional Qualifications Exchange. It simplifies the hiring process and offers an unchanging history of the healthcare of a doctor.
Blockchain and Healthcare to Enhance the Security and Control of Healthcare Transactions
Alter Healthcare develops a wide range of products in the healthcare sector that focuses on payments and data management. Ninety-two percent of top U.S. healthcare plans use their services, as per their website.
One of their recent developments simplifies the processing of claims and the revenue cycle. This allows hospitals and health facilities to control claims and remittances, improve patient payment processing, reduce denials and underpayments, and more effectively manage routine income cycles and business operations.
Can Blockchain Improve Patient-Doctor Interactions?
You have complete access and control of your own personal medical data with MedicalChain. Users can provide doctors with immediate access to their health records through their mobile devices while on the blockchain data is kept secure. Clinicians can also wear wristbands that healthcare professionals may scan if they are unconscious to access a person’s medical history. It also offers telehealth communication to allow doctors to access online videos.
Blockchain in Healthcare: Much More to Come
As shown in the article, healthcare blockchain use cases are plentiful and are capable of transforming the whole industry. The only challenge now is bringing healthcare professionals to embrace a broader scope of blockchain systems. It will promote the transformation of the entire healthcare system until mass adoption takes place.