Do you know that the health industry is one of the slowest industries in accepting change?
The Health industry is one of the fastest-growing industries in terms of vertical innovations like higher life expectancy, lower mortality rate, and so on. But, it has failed to adapt to horizontal innovations like mainstream adoption of digitalization.
In this post, I will be explaining how blockchain In health is a needed innovation and how it will greatly improve the system.
Firstly, let’s see briefly what is a blockchain
What is a Blockchain?
In simple terms, a blockchain is a decentralized database. It uses a peer-to-peer network to achieve this. The blockchain was built with transparency, decentralization, and security as its key aim.
Also, the blockchain is distributed in nature that is, it is a database shared around multiple participants of the peer-to-peer network called nodes, thereby, storing multiple copies of the database around the world.
With this, let’s go to the main subject of the day.
Benefits of Blockchain in Health
Let’s look at how the blockchain could improve the health system.
Better Record Keeping
It is quite unfortunate that most hospitals still keep records on paper in this current time. And, this has led to problems like lose of records in natural disasters, insecurity of patient records, and so on.
With the unique storage capabilities of the Blockchain, records can be stored in a safe way. Blockchain in Health proposes a transparent, secure, and decentralized way of storing data and also putting the power in the hand of the patients.
Interoperability is the way different healthcare providers are able to share, search and query medical records.
According to the Director of the center of Biomedical informations, Shaun Grannis: statistics show that up to one in five patient records are not accurately matched even with the same healthcare system. As many as half of the patient records are mismatched when data is transferred between healthcare systems.
The conventional record-keeping systems in hospitals are prone to inaccuracy when shared among other health care providers.
Also, due to the awkward fact that hospitals do not want to lose their patients to others, they hardly share information with other healthcare providers. And, this is detremental the pateints.
With Blockchain technology, patients’ information could be stored on a central database where patients’ information could easily be collected mandatorily by the patient’s decision and used for better treatment anywhere in the world. Also, this will give the patients control over all personal records.
With better researches, the healthcare system is most likely to see great improvements, but without reliable data, the research won’t be possible; this is where the blockchain comes in.
The blockchain is built in a transparent and somewhat anonymous structure. Taking the bitcoin blockchain, for instance, you can only see the amount involved and public addresses involved in the transaction. But, not the information of the persons involved in the transaction.
Now, back to health, using the blockchain, individuals will be able to give health information of themselves without revealing their identities. And, maybe for a small fee.
In an industry as important as this, the need for blockchain cannot be overemphasized.
Blockchain in health will greatly improve its overall activities ranging from better medications to global collaborations down to more insightful researches.
Which other aspect of the health industry do you think needs blockchain technology? Let me know in the comment section below.
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