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Blockchain technology is widely used and is ideal for many cases of use in a variety of industries. This technology is perfectly suited for the healthcare industry in specific areas. These include the supply chain, digital registers, the origin of the product and many others.
Even with the progress that the blockchain has created, people tend to consider this new technology in two ways. Some see it in tandem with Bitcoin. According to them, it is exactly the same as all cryptocurrencies and other overhyped technologies that have led to frauds and fraudulent activities.
It is not likely that the blockchain upsets the health industry, there are several areas in which it can help improve processes. Although the industry may be half a decade away from realizing its blockchain potential, technology can help make things more efficient and enjoyable experiences.
Blockchain in healthcare
The blockchain is basically connected to digital records on a register. Each transaction must be verified and archived on the network. It is governed by a series of rules that have been previously agreed. However, there is no central authority associated with it.
Transactions and information stored on the blockchain can not be deleted or copied. It is immutable. Therefore, many groups such as patients, doctors, health insurance plans, hospital systems and many others have the ability to share information in a secure system.
Although the health sector may be behind other sectors, it has great potential. Almost three-quarters of IT health managers believe that blockchain has a significant promise for the interoperability of their health systems.
Health service providers and insurance companies reach the same conclusion when they examine cases of use of blockchain in their areas. Many are looking at technology as a way to improve their current operations and procedures. The intent is to make the customer experience better in all facets.
Other facilities are discussing the potential of blockchain and how this can affect specific health care systems and hospitals. For example, many believe that blockchain is a technology that can be exploited to build, share and collect data profiles on multiple sites. This could also include virtual sites as they become available.
A challenge that health stakeholders are meeting is making a decision about where to apply the blockchain. They prefer to identify areas where technology can be an advantage and then apply it, rather than adopting blockchain and then looking for an application.
With this in mind, here are some ways in which blockchain can be useful in the healthcare industry.
Supply chain
This area of improvement is perhaps one of the easiest to identify. Pharmaceutical companies are exploring ways in which blockchain can track and monitor the product as it moves along its entire course. Integrated with blockchain technology, users can also view and manage relevant information.
For example, a particular product may require storage at a specific temperature. Through the blockchain, the sensors inside the shipment itself could transmit temperature information to the blockchain and inform the sender or recipient in case of changes.
Blockchain technology can also be useful to help safeguard poor or counterfeit products. Biopharmaceutical manufacturers could also use it to record and capture interactions with regulators. These could be used to refer later to ensure that all regulations are met before shipping.
Clinical tests
Putting the blockchain to use with clinical trials gives companies the ability to share data securely. This could be information such as adverse reactions, patient demographics or other relevant data. Companies will have the opportunity to share this with regulators and sponsors if necessary.
Furthermore, blockchain technology can also give organizations the ability to manage and track consent forms on various sites, protocols and systems. By implementing blockchain, multiple sites can access, collect, share and build on patient profiles. This also includes virtual sites.
The exciting piece of this use case is the potential behind it. The use of blockchain could give patients the ability to grant and control access to their data. This means that if a specific researcher wants information on a patient, the patient himself will check whether he or she is sharing it.
Management of the provider directory
With a blockchain-based hospital, doctors' directories could use technology to quickly update their listings. This type of use case gives suppliers the power to control their information and control them as needed.
For example, because a supplier changes networks or hospitals, this information needs to be changed. Providers would have the ability to make this change quickly instead of going through complex and complicated processes.
Furthermore, if an error were identified, a correction would be accepted or rejected immediately based on smart contracts. These smart contracts would regulate blockchain information and monitor changes as they happen in real time.
Patient record
The vast majority of patients have only a small part of their health history. Using blockchain technology, patients can access a lifetime of transactions and information from different healthcare systems, providers, insurance companies and pharmacies.
This type of information could easily be processed and analyzed in information that a patient could read and use. It could also be used to create records available for necessary suppliers in the form of an electronic medical record.
These records would provide detailed information on meetings, diagnoses, procedures, prescriptions and complaints. Information and data can be added over time and access can be restricted to patients and to whomever they designate.
Insurance coverage and complaints
This use case could be the most widespread in terms of direct impact on a patient. Fraudulent and accurate complaints are an essential part of the health sector. This applies in particular to Medicaid and Medicare where payments must be coordinated between banks, the federal government, suppliers and payers.
With blockchain technology, a smart contract keeps track of all this information and shows evidence of inaccurate or fraudulent charges. For example, if a patient logs in or checks into a clinic for a visit, it will be archived in the blockchain registry for verification by both clinical and financial systems.
This, along with other transactions, could be combined with others from the same location and then uploaded to the blockchain where the health plan could then access the information. An employee with the insurance company could then see the transaction completed. Since the blockchain is immutable, the reimbursement could be sent to the healthcare system as needed.
Claims reviews will be more efficient as the patient and meeting data would be readily accessible. Blockchain makes this information easy to verify and ensures that no errors have occurred.
Furthermore, healthcare systems and their suppliers would have the possibility to connect with health plans. Therefore, health coverage, demographics and other patient-relevant information can be quickly verified, streamlining the process and making things more efficient.
Conclusion
As you can see, there are many areas where blockchain technology can improve current systems, methodologies and processes. While the wisest way to act would be to find an area that has a need, there is no denying that there are specific use cases in which blockchain can have a positive impact in the healthcare industry.
Image source: "Pexels"
