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Future of Healthcare – Blockchain Technology

This technology can improve the structure and situation in the Healthcare system. A Blockchain-powered system has the potential to reduce and eliminate the friction and costs of current intermediaries.

What is Blockchain?

A Blockchain is a distributed decentralised system in which a database is shared among the different nodes of a computer network. A Blockchain collects the information in groups and holds the data in the blocks. It maintains a distributed ledger system of connected “blocks” and represents how data is shared, changed, or accessed on its peer-to-peer network. The devices connected to the blockchain will display the same data, if in any case, one’s data is changed, manipulated, or shared, a block is generated to record that information. In this way, changes to the data can be identified. It is an excellent technology for protecting confidential data.

Blockchain in healthcare

The current system in health care does not fully support security or interoperability. Today there is a need for quality healthcare facilities supported by advanced and new technologies. Blockchain in the healthcare system can be proved useful; The ledger technology facilitates the secure transfer of patients’ medical records and manages medical supply.

Advantages of blockchain in healthcare

Securing patient data

Security is a vital issue in the healthcare system, ensuring that patient data is private and secure and is not tampered with to create false information. Blockchain cryptography ensures that only permitted parties can gain access to personal data. Once patient data is on the blockchain, it is nearly impossible to tamper with it.

Time efficiency

If patients’ records are on the blockchain-based server, locating and accessing previous records will be considered quicker, Unlike traditional data recording, which requires complex algorithms and coding. Blockchain reduces the room for error as it runs on pre-recorded logic and avoids any significant paperwork.

Transparency of data

Blockchain provides excellent safety and transparency of data while enabling doctors and physicians to devote time to treating patients. Blockchain enables various health ecosystem organisations to remain in touch and exchange information on a commonly distributed ledger system. The user can also exchange and monitor their data.

Reducing expenses

Blockchain reduces needless expenses and thus enables the correct use of health records. Blockchain can create a single database for storing, updating, and securing patient data. It helps avoid miscommunication between different healthcare professionals for caring for the same patient. Thus mistakes can be avoided resulting in faster diagnosis.

No chance of losing data

Losing data can be somewhat disrupting for the patient as well as health professionals. Blockchain being a decentralised system of recording, data ensures that no data related to a patient is ever lost and is securely stored throughout. Thus, making it easy for everyone to view and access the data.

Interoperability

Lack of efficient interoperability is again one of the major issues present, due to which patients have to suffer when they decide to change their service providers. Patients have to bear the additional costs of redoing their medical tests and treatment processes which add to their financial burden and frustration.

Future with innovation

Blockchain introduces a new way of thinking about data and information. This digital technology can make healthcare services more efficient and easy to use than it ever was. Apart from managing the healthcare system, there are various issues for which blockchain can be a possible solution. Blockchain in healthcare can remove the middleman. 

In all, blockchain is here to stay & its integration can help provide a safer, reliable, and efficient healthcare system.

 

 

 

 

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