Blockchain Technology is Advancing Health Technology
Healthcare infrastructural system has been a prolonging issue in every country, be it a developed nation or an underdeveloped nation. It is much needed that the healthcare industry moves on to better information technology solutions that serve a better functioning framework.
However, it wasn’t accurately the case, as the healthcare system kept on lagging and failed to implement newer technologies. Thus, to upgrade healthcare technology, what can be done is to use blockchain technology as the IT tool to meet all the needs.
So, let us discuss how involving blockchain in the healthcare system can revolutionize the whole system.
The Decentralization of ePHI (Electronic Protected Health Information)
To talk about healthcare data, it is about several private sets of information which is known as electronically protected health information (ePHI). This holds information about patients like their personal data, the insurances, other previous health records, etc.
All of these things remained changed since the introduction, and even with other technological advances, there was no such upgrade in the healthcare system.
The slower rate or negligible rate of modernization of the system is all because of the healthcare provider’s low interest in providing funds for the development and also thanks to the inefficiencies from the healthcare provider’s side.
However, with passing years, healthcare administrators are finally gearing up to upgrade to blockchain in the healthcare sector, as they know that this can bring more elaborate and categorized data of their patients.
Block technology has got the potential to change the healthcare system and can create a whole new level of excellence.
The blockchain, when integrated with a record-keeping solution, will therefore render better privacy which can safeguard sensitive information. Moreover, it will let people manage their health data.
The decade surely needs advanced healthcare technology, which can be effective enough for all patients. So, for that, blockchain is the correct solution which is an immutable and encrypted ledger technology. And there are several various features that it provides lie:
- More inclination towards people-
As blockchain and the data on it isn’t owned by any organization, thus the information is decentralized, and it helps to protect the stats and data of individuals.
- Data on the blockchain is encrypted-
Blockchain encrypts the data completely, as it secures the data, be it of health information or even banking information, the information can’t be changed.
If in situations where there is a need to change the information of the patient, then it can be done by creating another node, where the previous information is amended.
- The blockchain itself is reliable-
The information or data stored in the blockchain gets safe as the chain becomes permanent. If any changes are needed to be made, then another block needs to be created. Any patient’s information can be looked into by looking back into the blockchain.
- The blockchain improves transparency-
By adopting blockchain in healthcare, patients will benefit by getting the ability to monitor their health information consistently, rather than relying on other people.
This system also grants authority to the people where they regulate the ePHI, which will help them in consulting with doctors and nurses to bring out the best care possible.
Other blockchain systems that aid in the healthcare sector
Another system that can work on par with Blockchain is Electronic Health Record (EHR) or Electronic Medical Record (EMR). So, if these types of systems collaborate with blockchain technology for healthcare, it will give common people better visibility over health information.
It has been years since private health organizations and insurance companies had complete authority over the information. This left the individuals in total darkness about the efficiency of the management. However, an amalgamation of both systems will bring more enhanced transparency.
With the chain system in blockchain that makes it traceable, patients can easily send records to whom they prefer instead of fearing corruption or mishandling. The encryption of blockchain will keep the information classified and secured until it gets shared with a healthcare provider or insurer.
This will help in setting benchmarks so that the insurers or organizations can formulate a benchmark for the patients to meet. This system will also decline bills spent on medications by tracking the prescribed drugs, lowering supply chain costs.
It is also presumed that blockchain, because of its data storing system, is gaining the attention of many health sectors. The whole blockchain system can advance medical record management and increase the insurance claim process, quicken clinical research, and advance biomedical and healthcare data ledger. And, with proper implementation of the block, patients can easily contact other hospitals and gather their medical data.
So, this system indeed brings newer things into the framework, which is more simplifying and transparent. Moreover, they work by aiding the general citizens, i.e., they can shift the framework of a private organization-based system to a patient aiding system.