Blockchain Application for Healthcare Sectors
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What is Healthcare Sector?
Healthcare offers you rewarding and varied work caring for people and improving their health. While it takes a fair amount of training a healthcare profession will be worthwhile in terms of job satisfaction, salary and the ability to relocate almost anywhere.
The healthcare sector consists of companies that provide medical services, manufacture medical equipment or drugs, provide medical insurance, or otherwise facilitate the provision of healthcare to patients.
Blockchain in Healthcare
Once a drug is produced and moves from the manufacturer to retailer, the operational data is recorded on the blockchain. It makes it extremely easy to verify the whole path of the drug, and determine all chain links at any time.
Blockchain technologies help with two main issues when it comes to drug traceability: first, it allows companies to track their products down the supply chain, creating an airtight circuit, impermeable to counterfeit products. Second, it also allows stakeholders, and especially labs, to take action a posteriori in case of a problem by identifying the exact location of their drugs.
Patient Data Management
When it comes to patient data management, there are two main issues in the healthcare industry. First, each patient is unique therefore there is no such thing as a common disease or common treatment strategy. What works on a patient might not work on the other due to inter-individual variability.
Blockchain could help pull together a lifetime of online transactions from various health systems, pharmacies, and health insurance plans. This data could be processed into readable information for a patient’s self-use, or transformed into records available to a variety of electronic medical records networks.
Clinical trials are used to determine the effectiveness of particular medicines which cure specific diseases. These tests can either prove or disprove an offered hypothesis. During clinical trials, researchers obtain and record a great deal of information concerning statistics, test results, quality reports, etc.
This technology allows users to prove the authenticity of any document registered in the system. It provides proof-of-existence by adding data in the form of the transaction and validating the information by all system nodes.
As blockchain reduces the risk of data fraud, trustworthy protocols and results can be published facilitating the replication of the study and collaboration in the scientific community.
Implementation challenges and consideration
Blockchain technology presents numerous opportunities for health care; however, it is not fully mature today or a panacea that can be immediately applied. Several technical, organizational, and behavioral economics challenges must be addressed before a health care blockchain can be adopted by organizations nationwide. Blockchain technology creates unique opportunities to reduce complexity, enable trustless collaboration, and create secure and immutable information.
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