Can Blockchain Improve Medical Industry?

celineanderson

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You may ask how could this grab a business towards it.

Actually, Blockchain is a public ledger or a distributed database, Store every data It is an open-source technology and anyone can access the details at any time. By experiencing the security, integrity, and transparency of the technology, many industries started to use it for their enhanced data storing and retrieving 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 furthermore with the food industry, fashion industry, Power energy supply industry, Telecom industry, Marketing, more and more.

Pain Point of Medical Industry:

In every hospital, the management needs to store and secure every detail of each patient. The records don’t have the only check-in and check-out time, instead, it contains the health issue details, purchase of medicines, accommodation, and the use of other facilities.

How Blockchain Could Support Healthcare Industry

Initially, blockchain technology is invented for bitcoin and cryptocurrencies. As it is a decentralized Technology, here all those data will be stored in a secured manner.
Seeing its security features health care industry started to adopt Blockchain Technology in Healthcare. There are several challenges, but the main challenge of a hospital or healthcare sector is maintaining the data.

So based on this maintaining the data challenge the following SIX FACTS are found to be the risk factors that are faced by hospital management.
  1. Meeting the HIPAA Compliance
  2. Mobile Computing
  3. Patient Data Sharing ( Data breach)
  4. Preventing the Insider Data Breach
  5. The lack of integration between the administration and clinical data’s
  6. Lack of operational and tracking analytics talents.

 

Ataraxia Celeste

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Concordium Blockchain can sure restore privacy in the medical world. It can also facilitate seemless patient data management with it's ID feature and help expediate emergency care without putting any patient data at risk.