iPatientCare Blog - What does Blockchain promise

What does Blockchain promise?

The Blockchain in healthcare is to solve many issues that the industry today is facing. Its aim is to create a common database of health information that doctors and providers can access; no matter what type of EHR they are using. By 2020, it is expected that about 60% practices will implement Blockchain. What’s possible and what blockchain could solve and make more promising future; the technology innovators in the healthcare industry are struggling to do.

How convenient it is, that you can capture all the surgeries, doctor’s visit, illness and even know all the medicines you have taken till date! As the quality of healthcare delivery is rising and the risks and costs are reducing.

The data stored in Blockchain can be shared in real time across a group of providers and no record is tampered with. Regardless of whether you have permission or not, you can still view the records. And if it is not permissible then, privacy is maintained by having an agreement with the other providers.

The Blockchain technology enables the health data exchange systems that are not easy to access or communicate. This ultimately enables seamless access to real-time patient health data and eliminates costs and burden of data reconciliation. It gives way to transparent billing management. Now the Blockchain applications and systems, provides realistic solutions to minimize frauds and money laundering schemes. The Blockchain helps to reduce administrative costs too.

Applying Blockchain can have benefits such as:

  • The blockchain architecture has built-in tolerance and disaster recovery.
  • This open-source software is reliable, robust and even under changing conditions, does not match any other software.
  • The healthcare providers are able to select wide range of application choices and could select options that match the specific requirements and needs.
  • These open-source solutions also give way to innovations in the application market.
  • The data in the blockchain is extendable and flexible. It accommodates any data that is available for the future reference.
  • The disaster cannot impact all the locations, therefore there is no single point of failure.
  • The Blockchain, offers a single storage location for all health data, securely tracking personalized data in real time.
  • The blockchain collects health data across a patient’s lifetime history.
  • It includes data from population of people who are under-served by the medical community. The data in the blockchain is shared and helps to make it easier to engage ‘hard-to-reach’ populations and develop results more productively.
  • Medical researchers have increased capabilities to classify individuals into subpopulation that respond well to a specific treatment done by combining health data from traditional EHR with mobile applications and wearable sensors.
  • iPatientCare helps to personalize day to day data and engages patients in improving their own health; and the providers to obtain easily the frequent data like, blood pressure and blood sugar levels. This improves individualized care with specialized treatment plans based on outcomes.
  • Blockchain ensures continuous availability and access of data, which helps the providers to rapidly detect, and point out any condition that can affect public health.
  • Blockchain provides 24-hours monitoring of high risk patients and drive the innovation of smart applications that would send notifications to the care givers and health providers. The providers can easily reach out to their patients and coordinate treatment options.
  • The health provider and the patient has access to the same information and therefore, are able to collaborate and discuss the best treatment options.

The Blockchain has streamlined hassle free data sharing across specialists and providers as it gives disease registries, lab results and treatments. It includes inpatient, ambulatory and wearable data – assisting providers in coming up with better ways of delivering care.

There are no worries of monitoring, as Blockchain allows for documenting the transactions in a decentralized record. It enhances the precision and brings transparency while saving time. The success of any public health care initiative depends upon the collaboration of various parties, so with help of iPatientCare encourages the use of Blockchain in practices, so that they can proactively promote the innovation in a particular field by empowering key participants to collaborate and group their research.

It is important to have high-end security, but at the same time should have transparency too. Blockchain technology maintains traceable records and it overall eliminates chances of data leakage. It also facilitates tracking the movement of drug to the patients as well as ensures timely supply of medicines.

Blockchain automates the tedious processes, by providing uninterrupted connectivity with level-based authorization, which empowers providers and researchers. Thus it keeps budget under control, lowers administration costs and allows better use of allocated funds of the practice.

How Interoperability in Healthcare Plays a Vital Role in Better Outcomes

In one go, Blockchain offers access, security, scalability and data privacy. All the users are in control of all the information and transactions. The blockchain can streamline the medical records and enable their sharing in a secured way, thus maintaining confidential patient information. It is a key pillar in digital world, and it has transformed the big data landscape.

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