Blockchain in healthcare

1. A brief guide on blockchain technology  in the healthcare ecosystem  Blockchain technology records all online data transactions. All these records  are shared among the network peers, the users authorized to that network can  add the record of the transaction. The database is located in a decentralized  network. It maintains and manages the record transactions in a secured manner  through cryptography, which has to be approved and verified by the network,  and this process is called mining.   In this blog, let’s explore the benefits of implementing ​blockchain in  healthcare​ sector in brief!   

2. Blockchain in healthcare  Blockchain technology can transform the healthcare sector by placing the  patient at the center of the healthcare ecosystem and increasing the security,  privacy, and interoperability of the health records.  This technology also provides an advanced feature for exchanging health  information like electronic medical reports which is more efficient, secure, and  disintermediate.  Now, let us know about some of the benefits you gain from ​blockchain  technology in healthcare​.   Benefits of blockchain  Health insurance  Blockchain technology has enhanced many features in the insurance system by  eliminating all unnecessary intermediates. This made the health sector and  patient to put in less effort, easier processing when compared to traditional  insurance systems.  The smart contracts perform these insurance operations. If a patient opts for a  medical insurance policy using a smart contract, all the details will be stored in 

3. the patient’s profile on the blockchain ledger, and that is less prone to hacking  than the traditional database.   This method ultimately eliminates the time needed to file an insurance claim.  If a patient claims insurance, the smart contract will be triggered  automatically, and the money will be transferred directly from the payer to the  hospital.  Medical record interoperability  Blockchain technology is suggested for storing all the records in the digital  ledger, which makes it rigid and immutable. The medical records of the  patients are stored in the digital ledger. In this setup, the patient can easily  change doctors and hospitals without the need to transfer their medical  records and need not undergo many procedures to recover data.   Apparently, the patient can walk into any clinic or hospital of his choice and  grant that health organization access to the medical records by entering the  private key.  Telehealth solutions  It basically allows the medical practitioner or physician to directly reach out to  patients through digital devices like smartphones and the internet of medical  things.  

4. Using these telehealth solutions, the physicians can stream and process the  real-time data from patients’ sensors. The smart contracts can be implemented  in a private blockchain to analyze, aggregate, and share the data securely and  reliably.   Conclusion  It is for sure that blockchain technology shapes the future by creating unique  opportunities to reduce complexity, enable trustless collaborations, and create  secure and immutable information. The only issue now is getting all healthcare  providers to adopt blockchain systems, and once the mass adoption occurs, it  will catalyze the improvement of the entire healthcare ecosystem.