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Six Ways Blockchain Technology Is Changing Medical Practice

Had it been a few years back and we were talking about decentralized data, then it would have appeared as a weird concept. But today, Blockchain had made decentralization the new panacea for most of the industries. Our focus would be on the healthcare segment. We will understand how Blockchain technology is going to be helpful in the healthcare segment.

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Six Ways Blockchain Technology Is Changing Medical Practice

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  1. 1 Copyright © Blockchain Council www.blockchain-council.org

  2. Six Ways Blockchain Technology Is Changing Medical Practice Had it been a few years back and we were talking about decentralized data, then it would have appeared as a weird concept. But today, Blockchain had made decentralization the new panacea for most of the industries. Our focus would be on the healthcare segment. We will understand how Blockchain technology is going to be helpful in the healthcare segment. 2 Copyright © Blockchain Council www.blockchain-council.org

  3. Blockchain In Healthcare: While we have seen tremendous advancements in technology, and digitization is paving the way for new technologies, it has also made the system more fragile. The data that resides in the virtual world is extremely fragile. As a result, one of the primary issues for most companies is data protection. Although there are several strong mechanisms and protocols in place to improve data protection, none of them seem to be working properly. As a result, a technology that can provide the appropriate protection framework is needed. Here are some of the ways that Blockchain can benefit healthcare systems and medical practises. 3 Copyright © Blockchain Council www.blockchain-council.org

  4. 1. Data sharing and storing- The healthcare industry is awash with information. And all of this data is extremely fragile. As a result, a system that is much more safe and stable is needed. Blockchain is a distributed ledger technology that enables data sharing. All of the patient's information can be encrypted and stored here. As a result, the data is extremely safe and stable, with no risk of a data breach. Since the DLT platform is decentralised, the knowledge is dispersed across the network, making it accessible to any medical practitioner. 4 Copyright © Blockchain Council www.blockchain-council.org

  5. 2. Drug development and its supply chain- Fake medicines are a major issue all over the world. One of the reasons for this is a faulty supply chain management system. We will increase the accountability and traceability of medication with the aid of Blockchain, which will improve the supply chain. This is something that organisations like IBM are focusing on. 3. Claim settlement and big management- Medicare frauds are very common. It disrupts the system and also leads to a lot of money loss. In fact, every year, Medicare fraud amounts to $30 million. This is a whopping number, and with the help of Blockchain, we can narrow down this problem. A blockchain-based automation system can resolve this issue. 5 Copyright © Blockchain Council www.blockchain-council.org

  6. 4. Clinical research- Various issues such as data storage, record keeping, and data integrity can arise during the course of a study or medical research. We can put an end to all of this with the aid of Blockchain. 5. More control over the content- Using a blockchain platform for data storage and information update makes it easy for people to access the information. Students and researchers in the field of medicine or healthcare can use the Blockchain platform to publish their paper. Blockchain gives better control to the creator, thus securing their IP rights over the content. 6 Copyright © Blockchain Council www.blockchain-council.org

  7. Case management- Another area where Blockchain can prove to be extremely beneficial is case management. In this, once the patient consults a doctor and a medical plan is advised, this treatment plan can be added to the ledger. A smart contract can be developed that specifies the framework of the patient's treatment goals along with the rules defined in the smart contract to track the process. Once all this information is fed into the system, it provides chronological data about the delivery of care. With this information, we can conclude that Blockchain will surely have a strong impact in the field of healthcare, and if you too wish to make a strong career growth as a Blockchain developer, then you must opt for the Blockchain certification program offered by the Blockchain Council. 7 Copyright © Blockchain Council www.blockchain-council.org

  8. Blockchain Council Certifications You can check out our certifications, and kick start your career in the Blockchain space today. ● ● ● ● ● Certified Blockchain Expert Certified Blockchain Developer Certified Smart Contract Developer Certified Solidity Developer Certified Ethereum Developer 8 Copyright © Blockchain Council www.blockchain-council.org

  9. THANK YOU! Any questions? You can mail us at hello@blockchain-council.org 9 Copyright © Blockchain Council www.blockchain-council.org

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