Many sectors in our modern world are influenced by blockchain technology, and one of the most interesting is healthcare. How can blockchain make an impact on this archaic industry?
How Blockchain is Changing
the Healthcare Industry
By Ofek B. | 8-18-2022
Contact Us
Ready to get the Conversation Going?
Deep Impact is your key to influencing people through social media communities.
In Conclusion
We are only at the beginning of the road regarding the use of blockchain in the healthcare industry, but you can already see the tremendous potential in this technology. The more the industry can develop its data strategy, the more we will all benefit from an advanced level of medical care.
What will the healthcare industry gain?
Thanks to the ability to create a supply chain that is much more secure and supervised, significant cost savings will be the first positive impact of using blockchain technology in the healthcare industry. This will also contribute to the fight against counterfeit medicine in the market by tagging each medication within the blockchain; making it easy to verify what is genuine and what is not. In addition, the vast amount of data available in the industry will be more accessible and secure, opening the door to sharing information quickly and on a larger scale—promoting expeditious access to research and treatment methods.
Blockchain technology has many unique advantages in general, but as regards healthcare specifically, there are three main ones:
Data storage - The healthcare industry generates approximately 30% of the world's data volume. This is a tremendous amount of information that needs to be stored in a secure but also accessible way. Blockchain technology operates like a digital storage cloud, secured by millions of people and computers worldwide, thus providing the answer to the industry's needs.
Management - Managing a supply chain is a challenge in any industry, but especially in healthcare, where even the tiniest mistake can cause harm to a patient. Using blockchain as a tool to manage the supply chain can be a game changer. Potentially, every medication produced will receive a printed QR code, leading to the drug’s relevant information being stored. This will help in preventing human errors, and by virtue of that, save lives.
Security and accessibility - Due to the sensitivity of private medical information, industry rules and regulations are strict so that no detail is accidentally or intentionally leaked. Even for us as patients, it is sometimes tough to access our medical records; therefore, blockchain technology is the most suitable solution. Every patient will receive his or her medical information in the person’s digital wallet. Doctors and institutions can transfer sensitive medical information with one click of a button, knowing that the data is secured at the highest level and will reach its destination with the necessary urgency.
Deep Impact © Copyright 2022
