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How BlockChain is Transforming the HealthCare Industry

Mar 10, 2018 Posted /  3072 Views

How BlockChain is Transforming the HealthCare Industry

Healthcare is one of the world’s most sensitive sector of an economy with some of the biggest annual budgets in most countries across the world. Improving healthcare and reducing it’s cost to patients is paramount for sustainable economic development of a nation.

In the medicine early identification and tracking is paramount to maintaining a patient's health status. Medical record has been the best tool used by medics to quickly judge what a patient might me undergoing should the patient be in a position where he is not capable of speaking for themselves.

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A Lot of effort has been made in trying to digitize the health records of a patient and keep it safe where the could be accessed. Blockchain however can provide a data storage systems for health records of patients where every hostal can with the correct authority can quickly access the patient health data. This will save the time when doctors fidget to find out what could be wrong with the patient and test more accurately for unknown conditions thus saving life and money.

The Data Logging Phase

To make a blockchain health management records posible patients should log their health data in the system and update the data as frequently as possible. Once the data collection phase is complete the blockchain system would distribute the data in a platform accessible to a wide range of hospitals and healthcare service providers.

The data can be secured from unauthorised access through encrypting the data with individual passwords or pins. However health insurance companies can be given access to these sensitive information about the patient. This way in case of any emergency the patient’s health insurance company can access the the patients health records to the hospital early enough.

On the other hand with an electronic health record stored o a block patients can be relieved from frequent hospital visits. Existing services like the electronic health records system has so far proven ineffective with cases of patient health records being stolen and traded on the darkweb.

Lower Expense on Healthcare

Globally a lot of money is spent on healthcare with majority of it being money spent on checkups for conditions which the patient might not be having. With all your health records on one immutable system money is saved on checking for already tested cases. When a patient moves to another country on hospital all health information could be lost since the data can not be memorised by brain.

The Blockchain system however would allow the patient data to be access from any way in the world and from all hospitals in the globe. With a standard method of data entry on the blockchain system patient information can be reliably assessed whenever it is needed by health operatives.

The blockchain system shall ease patient referrals between different hospitals around the world. Data from hospitals are matched with the patients conditions to find the health facility that can provide a healthcare service that suits the need of the patient at that time. The data log from the hospital could include available doctors and facility for a particular ailment.

Increasing the efficiency of Health care provision

A Blockchain databank of healthcare can be used by government policy makers to plan for a long term solution to health problems within a region. Through accurate identification of common health conditions in an area and statistical analysis, policy makers can derive the root case of the health hazard and make appropriate decisions there after.

With a system incorporating patients, hospitals and doctors in one platform cost of medical consultations and finding the right doctor is further reduced. Such platform can develop their own cryptocurrency tokens which can be used in the platforms to conduct payments.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: blockchain technology blockchain healthcare sector

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