Healthcare is ready to invest in blockchain as new business cases emerge

Understanding and appreciation by the health organizations of the blockchain has evolved in recent years and more and more health systems are realizing they have to invest as a preparation for its "imminent break", according to Deloitte. [19659002] For his Global Blockchain Survey 2018, Deloitte has interviewed more than 1,000 executives worldwide from all sectors. Nearly three-quarters (74 percent) of all respondents claimed that their organizations see a "compelling business case" for the use of blockchains and are planning technological investments accordingly.

About a third of these executives said they already have a blockchain system in production, while 41% said they planned to implement a blockchain application over the next 12 months. Almost 40 percent of respondents say their organization will invest 5 million or more in blockchain technology by that time.

Specifically regarding health care, more than half (55 percent) of managers say they think the blockchain is disruptive and more than 60 think that they will lose a competitive advantage if they do not become part of the technology. distributed register.

Deloitte states that health organizations are particularly interested in four potential promises of blockchain:

  • Disintermediation. Blockchain could help healthcare systems avoid the need to rely on education by relying on expensive intermediaries such as medical data aggregators, providers of suppliers' data validation services and clearing houses.
  • Transparency and verifiability. Value-based reimbursements, clinical supply chains and other complex transactions could benefit from greater openness and efficiency among the various stakeholders.
  • Collaboration in the sector. More efficient sharing of information for use cases such as provider credentials, longitudinal patient records and clinical trials could be enabled by blockchain.
  • New business models. Technology offers potentially new blockchain-based revenue opportunities and could transform the notions of patient data ownership and monetization, according to Deloitte.

Given these potentials, around 63% of healthcare executives said they would invest more than $ 1 million in blockchain in the next calendar year.

The report reveals a new "level of optimism" across the industry, evidenced by "numerous value test projects pursued by the biggest names in the market and the diversity of the consortia that have been formalized. In the next 12 months, the results of these research will provide tangible evidence of the value of blockchain and provide an experience that can help rationalize the consortia ecosystem to support industrial-level solutions that can transform health care. "[19659003] That said, 44% of US executives who responded to the survey also said they believed the blockchain was "overwritten". But Deloitte's reading of that sentiment is not so much the fact that they believe technology will be a failure, since it is "reflective of the shift towards pragmatists in the blockchain community".

However, the report states that many C "private decision-makers" are still struggling to see "that blockchain represents a" fundamental change in their business ".

Deloitte researchers admit that" a certain "blockchain fatigue "is beginning to set between those who feel that its potential has been over-communicated, while its advantages in the real world remain elusive. "

But they emphasize that" based on our vision of where the blockchain is today and, more importantly, is likely to rate adoption within the next three years, I strongly believe that organizations have to evolve their way of thinking around the technology. "

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