How Blockchain is Delivering Potential Solutions for Healthcare Industry?
June 9, 2023
Privacy and security of medical data are paramount. The major challenge of today’s healthcare industry is to deliver better quality care, manage patient data, and eliminate the friction and costs of current intermediaries.
Blockchain is a decentralized and public digital ledger technology that can help the healthcare industry to streamline its service and make it easier to share data securely within the system. In this blog, we will discuss how blockchain architecture for healthcare can enhance and drive better solutions for the healthcare industry.
Blockchain Technology in Healthcare Industry
The promise of blockchain has the potential to connect fragmented systems to generate insights that will help in delivering better care and value to patients. Investing in blockchain healthcare applications connects fragmented systems to generate insights and deliver proper care, medication, and better health outcomes for patients.
Blockchain healthcare solutions have the potential to transform the healthcare industry and can provide a new model for health information exchanges by making electronic medical records more efficient, disintermediated, and secure. It records patient data, provides easy access, secures transactions, and enables data sharing of patients in the healthcare ecosystem.
Blockchain technology for healthcare establishes cryptographic techniques with the healthcare center or hospitals and allows each participant in a network to store, exchange, and view the information in a secure network infrastructure with verifiable identity and authentication of all participants.
- Improved Health Records of Patients
Patient health records are the cornerstone of patient care by providing a complete, accurate, and accessible history of the patient’s medical treatment. Allowing easy access, update, and sharing of data across the organization is one of the most promising areas of blockchain healthcare solutions.
Electronic health records of patients provide consistent information about the patients. Healthcare providers can easily discover the patient’s medical history and interoperability of health information systems (HIS). Thus, Blockchain technology for healthcare can address patient health records with greater security and authentication features.
- Maintains Supply Chain Management
We all have gone through the tough phase of the COVID-19 pandemic. During the pandemic, the healthcare sector had gone through shortages of key medical equipment and supplies. This highlights the susceptibility to supply chain management disruptions in the healthcare industry.
Blockchain architecture for healthcare helps in managing the supply chains in a way that reduces the overall operating costs. Blockchain healthcare solutions provide a distributed architecture and decentralized storage to manage and monitor the movement of drugs and medical supplies.
It improves demand forecasting, data provenance, and fraud prevention by integrating all production, packaging, and distribution along with transportation. Thus, it helps in the overall management of the supply chain within healthcare centers and hospitals.
Also Read: 5 Innovative Healthcare Solutions to Reduce Waiting Time of Patients
- Strengthen Cybersecurity
Healthcare centers and hospitals are primary targets of cybercriminals to steal patient data and information. Blockchain technology for healthcare allows you to integrate encryption and security measures to ensure that patient’s data and information are safe and secure.
Clavax technologies integrate blockchain technology for healthcare that strengthens your organizational infrastructure with the organization. Integrating encryption and other on-site security protocols secures sensitive healthcare data in compliance with HIPAA and other regulations. Decentralized storage reduces attacks and ensures data safety with zero chances of cyberattacks.
- Smart Contracts to Facilitate Clinical Trials
Blockchain-powered smart contracts can bring significant benefits in facilitating clinical trials. Blockchain healthcare applications make the process easier and turn complex and time-consuming processes into easy ones by streamlining and automating various aspects of clinical trials.
Clavax technologies integrate and address various regulatory frameworks, interoperability, and standardization to significantly enhance the efficiency, transparency, and integrity of clinical trials. This helps in accelerating the development of new treatments and improving patient outcomes.
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- Blockchain for Better Interoperability
Interoperability refers to the ability of different healthcare systems, devices, and applications to securely exchange and use patient data. Blockchain architecture for healthcare has the potential to address one of the longstanding challenges in healthcare. By leveraging blockchain, healthcare organizations can improve data sharing, enhance patient care coordination, and strengthen data security and privacy.
Blockchain ensures that data cannot be altered or tampered with while providing a high level of data integrity. This allows patients to easily share medical records, test results, and other healthcare data with zero risk of data manipulation or unauthorized changes.
- Credential Verification of Employees
Adding a touch of security always keeps you protected and safe from data breaching. Healthcare organizations like- Hospitals can log the credentials of their staff to authenticate the safety of data and information within the system. Thus, organizations can easily monetize or secure data and information when an employee leaves the organization. Blockchain technology for healthcare can be used to track the experience of medical professionals.
They can verify themselves to enter into the system. This prevents unauthorized access to data and information. Thus, it integrates transparency and reassurance for partners.
Also Read: Choosing Artificial Intelligence Solutions for Smarter Healthcare – Explained
How Clavax is Shaping the Future of Healthcare with Blockchain Technology?
The widespread adoption of blockchain in healthcare will give more control over data access and security of patient’s data. Blockchain healthcare solutions deliver unique opportunities to reduce complexity, enable trustless collaboration, and create secure and immutable information.
Clavax Technologies is shaping the healthcare industry by establishing a blockchain framework by coordinating, mapping, and convening the blockchain architecture for healthcare. We are the leading Blockchain development company in New York, USA. We deliver Blockchain-powered custom software solutions, applications, cryptocurrency solutions, and other software.
Get in touch with us today and integrate high-performing blockchain solutions for your organization.