Everything we need to know about blockchain in the healthcare industry.
In this world everyone needs to save themselves from everything. The universal truth is no one can save anybody but we can give precaution to them. Doctors are treated like God in the society, because they are taking precautions for the patients before they fall into sickness. Especially they save people from sickness.
No need to worry, here we see what the problems are in the health care sectors?
We hope you know very well about the fresh updates and changes which are happening in blockchain, and also you must be well knowledgeable about how the healthcare industry applies and innovates continuously.
In recent days, the major crisis which every health care industry faces is data protection. Blockchain plays a vital role here by enhancing trust, transparency, and privacy in data saving.
Nowadays, all those technologies in the healthcare industry are challenged by data protection. By enhancing trust, transparency, and privacy in data sharing, blockchain technology may aid in the acceptance of digital health solutions.
It’s time to discuss what are the major problems in the healthcare industry..
4 important challenges in healthcare industry:
Health Care Industry: An Ocean Of Medical Data
Hope you know that the healthcare industry is a very big grid. We can explain it as an Ocean Of records. The count of patients, type of medicines, Doctors, hospitals count, and more things are growing everyday. And we damn sure that this extension will not end and never.
Because the different lifestyles of people have interchanged dramatically, and the lack of healthy foods grows the sickness count and patients count. This becomes the pain point for hospitals to start and utilize these challenges for their business growth.
The Real Challenges Of Healthcare sectors:
When you have been admitted to a multi speciality hospital or your blood relations are admitted there.
you should have experienced how costly it is to take treatments in a multi specialty hospital per day.. One thing you should remember well when you enter into a hospital you are not only the patient, you are also treated by some data. And every single pursuit or process (it may be purchasing the medicines, accommodation, use of other facilities) will be kept path of by the hospital within a secured database.
Let us think like this, If you occupy a hospital for 5 days, there will be a minimum of 50 data kept on your name. Based on the illness or the treatment you take the count may be different. If a single person makes this numerous data, Imagine how much data’ s will be stored in one whole hospital per day, per month or per year. And also imagine how much medical data will be given to the central government from every state per year.
Data breaches in Healthcare industry:
Hope we had a small recap about the healthcare industry and its current state, now let’s debate how Blockchain will be the best treatment for all the pain points which are overlooked by the healthcare industry.
Blockchain Started to Hear your Heart Beats
The technology, Blockchain was fundamentally invented for bitcoins and cryptocurrencies. This was assessed as a public ledger technology. Here the data will be kept in secured blocks ( cloud storage) in a secured encrypted block, so only a limited number of people who are authorized will be able to approach those data’s. This technology and its use cases created a huge revolt in bitcoin cryptocurrency exchange transactions.
By experiencing the security, integrity and transparency of this huge technology, many industries began to grab it for their increased data storing and recovery methodologies. The banking industry was the first to adopt it, and after that SCM, e-commerce, and now the health industry. This chain will continue further with the food industry, fashion industry, Power energy supply industry, Telecom industry, Marketing, more and more.
How does blockchain blends into the healthcare industry challenges?
Let’s see what all the challenges are in the healthcare industry, and how Blockchain could resolve it.
There are many challenges, but the main challenge of a hospital or healthcare sector is continuing the data. So based on this maintaining the data challenge the following FOUR FACTS are established to be the risk elements that are faced by a hospital management.
Meeting the HIPAA Compliance
HIPAA (Health Insurance Portability and Accountability Act ) is a government regulation, it is a set of security regulations. Every hospital has a different data management structure and that data should be accessible for medical practitioners, clinics, diagnosticians, Pharmacists and other medical specialists. So that data management should be encountered in the HIPAA for HER(electronic health records).
Improving security, privacy, and reliability of data exchange and interoperability:
- Most continuing health care sector experts trust that health datas and medical data are best kept in the cloud. This authorized users simple access to their data than when that data. Anyhow, with the latest cloud storage standards, interoperability remainders a challenge. For example, different care suppliers and networks cannot always commune with each other in a seamless way. Besides, honesty and originality of records stored in the cloud remain questionable.
- Blockchain is technology that could inscribe these issues and potentially increase honesty and steadiness of swapped health details. With blockchain technology, patient details can be simply transferred between dissimilar contributors and companies. There is no need for further confirmation or a middleman. Instead, “smart” contracts, which are inflexible through the use of blockchain, are used as a better different.
Minimizing fraud related to prescription drugs.
Prescription drug fraud is a major challenge. Fraudsters use numerous techniques to cheat the healthcare structure by duplicating prescriptions to “doctor shopping” to get as numerous original prescriptions as feasible from different doctors.
A leading Blockchain development company Brugu came up with a narrative solution for this problem. It involves providing prescriptions with a machine-readable code that is related with a block of details, such as the name of the drug, its amount of quantity, and a timestamp. A pharmacist is required to scan the code (for example, by using a smartphone) and the prescription is contrast against the blockchain. In this way, the precision of prescription can be checked instantly.
Different stakeholders are awaited to take part in this fraud-prevention plan, comprising insurance contributors, hospitals, and pharmacies. Each of these functions can only access the information to which they are qualified. (Specific data is accessed supplying the correct cryptographic keys, which helps ensure patient privacy.)
Tracking and preventing the sale of counterfeit drugs and devices.
Most of the people around the world do not have access to high-quality drugs. Besides, drugs and medical devices exchanged in the growing world are sometimes an emulation of the original. A blockchain-based system could make the healthcare supply chain more transparent and provide all parties with a sound tracking system, tracking a legal product’s delivery from the manufacturer to patient.From the above explored points we could impart that “maintaining data in healthcare ecosystem requires a back paining effort”
From the above surveyed points we could reveal that “maintaining data in healthcare ecosystem requires a back hurt effort”
Blockchain Revamps Health care Industry by Sweeping the Risks
By exploiting this massive technology in the health care system, experts predict that health Information exchanges (HIE) will be more secured, efficient, achievable, and also interoperable. The technology used to attain this goal is private Blockchain implementation ( i.e) Permissioned Blockchain- only legalized people can access data. This kind of Blockchain found system will reduce the abrasions and cost for intermediators complicated in medical data exchanges.
Here is the list of goals that we can achieve with the help of Blockchain technology
1. Data Provenance and integrity
2. Data Security
3. Data Transparency
4. Drug Traceability
5. Easy to maintain Electronic Health Records( HER)
6. Patient Data Management
7. Easy to maintain the SCM of Medical accessories
8. Prevents Data breaching ( especially sharing patient details to third parties)
9. Medical insurance claims process will be diluted
10. Easy to maintain clinical research results.
11. Can Achieve unchangeable medical Data’s
12. More Secure Standards
But in general Blockchain will meet all the challenges and can arrange risks especially can bring more security for data contravention.By register all these factors many branches in the healthcare industry (pharmacy, private, public hospitals and etc) now started to embrace Blockchain technology.
How Brugu can help health care industries?
We are proud to tell you that At Brugu Blockchain Development Company provides services for industries, corporate and small businesses to integrate Blockchain technology. After understanding the scope of Blockchain in healthcare, we enlarged our services for hospitals and its branches too.
We have a separate offshore development centre with 60 + Blockchain developers and also Brugu lets the clients hire committed blockchain developers for custom Blockchain application development.