What is the Use of Blockchain Technology in the Healthcare Sector?

Learn what is the use of blockchain technology in the healthcare sector and its enhancement

Blockchain is a distributed system for recording and maintaining transaction data. This is now being used in multiple sectors including healthcare. Blockchain technology in healthcare has the potential to improve healthcare by putting the patient at the center of the system and improving health data security, privacy, and interoperability.

In the healthcare sector, blockchain technology has several applications that can enhance the efficiency, transparency, and security of healthcare services. The most important use case of blockchain in healthcare is in securing patient data. Secure encryption of patient data and epidemic management is one variety of tasks that blockchain technology in healthcare performs. Blockchain can benefit digital health by making it easier to securely communicate data across disparate healthcare systems with patient consent. Blockchain technology has the potential to revolutionize the healthcare sector by transparent sharing of patient data, improving supply chain management, enhancing clinical trials, enabling personalized medicine, and transforming healthcare payments

Let’s look in detail at the use of blockchain technology in the healthcare sector:

1. Electronic Health Records

EHR is a digital version of patient records that store instantly available information securely to authorized users. Blockchain technology enables secure and interoperable sharing of HER among healthcare providers, researchers, and patients with full security and privacy.

2. Supply Chain Management

Healthcare supply chain management is the collection of processes, teams, and transportation of medicines and other medical tools for healthcare professionals to execute their job. Blockchain technology enhances the efficiency and transparency of this and also tracks medical supplies at every stage of the supply chain.

3. Healthcare Payments

Healthcare payments enable secure and transparent transactions between patients, healthcare providers, and insurers. Small contracts or terms of agreement enable the automatic processing of healthcare payments reducing costs and fraud.

4. Clinical Trials or Better Record Tracking

Clinical trials are needed for the development of new drugs and treatments. Blockchain enables the secure, transparent sharing of clinical trial data among healthcare professionals. Blockchain technology will directly increase the quantity and quality of patients recruited for clinical trials.

5. Personalized Medicine

Personalized medicine involves the use of technologies to seriously acquire and assess an individual’s data for only their treatment. Blockchain enables secure sharing of genomic data, to use for research and drug development.