Blockchain technology in the healthcare market

Blockchain has become a buzzword within the industry thus far.

13:39 14 June 2022

Since its progressive integration into the world of business, we are seeing the potential for huge changes. Blockchain has the power to revolutionise all sectors of the industry, due to the evolutionary technology that it can integrate within everyday systems. With benefits like better security, privacy, and accessibility overall, this vast growing technology is being adopted into all markets for a reason, and next up is the healthcare industry.

Not only is the medical industry swiftly incorporating blockchain into their operations, online gambling platforms like the one here, have pretty much adopted blockchain technology in the majority of its applications and user experience. Blockchain has become pretty much an inevitable system that many industries are becoming heavily dependent on.

How is Blockchain Affecting The Medical Industry 

The medical industry has eagerly adopted Blockchain slowly. Since its recent integration, this has allowed operations to run at reduced costs, and allowed patients to access healthcare in new ways entirely. The nature of data collection within healthcare systems has always been pretty outdated, and vulnerable to compromise. Blockchain gives healthcare a futureproofing seamless system that ensures patients protect their privacy very easily. 

Pioneering healthcare companies are already laying their business foundations for the future, with pivotal blockchain technology. How they have planned for the future is listed down below, but even the NHS within the UK amongst other domineering healthcare organisations have commented on their hopes for the future, when concerning blockchain technology.

Chronicled 

The medical industry has long suffered with the vulnerability and risk of data compromise. Blockchain presents itself as a way of protecting access to sensitive data. While Blockchain can facilitate secure data exchange and storage systems, the boundaries of how this can go, in addition to the deliverables for individuals and communities is still very much up for debate. Nevertheless, Blockchain is on the agenda for data privacy moving forward. 

Curisium 

Curisium was acquired by HealthVerity back in 2020, and since then have employed multiple systems advocated by Blockchain technology. The platform uses contractual negotiations, to which can succumb to many hours of back and forth, with minimal records to honour facilitated agreements. The streamline data technology provided by blockchain made even the most complicated negotiations efficient, binding, and secure. This seamless automation allows workflows to be expandable and quickly picked up by all parties involved. In addition, all those involved with the data creation process, will uniquely have access for reference and further work automation.

Patientory 

Blockchain networks truly allow organisations to move with administrative work collaborations very transparently. Sensitive data can be concealed but also shared when needed, meaning this would only require access to parties that would require such information passed over. In regards to medical input from health professionals and passing on health developments from practice to another for example, is much simpler and easier to leverage. Only verified personnel would have access, and in turn such health developments of individuals could be easily tracked and managed moving forward into the future. It has become very sustainable for organisations like Patientory for example.

A Future of Innovation 

The most exciting part of integrating blockchain into healthcare systems, is the fact it provides such a strong foundation for growth and sustainability for the future of healthcare. In relation to current IT operations, blockchain will help minimise any future breaches, more than alternative solutions that are present now within the industry. Blockchain will replace old medical technology solutions, meaning further breakthroughs on an unprecedented scale will follow as time continues. It truly is just the beginning for medical healthcare systems.