Infographic: Application of blockchain in Healthcare
Posted 4th March 2019 by Joshua Broomfield
Application of blockchain is no longer a concept known only to a few industries. What started with cryptocurrency in 2009 has come a long way since. Its capability for secure transactions has enabled it to find potential in industries such as banking where security is one of key concerns when it comes to digital transformation. Healthcare industry leaders are also waking up to this call and are now exploring ways to embrace the technology owing to the multiple possible use cases for the industry.
Every day, there is a copious amount of data generated in healthcare operations. This data holds the key to finding valuable insights and delivering superior patient care. However, the lack of a universal decentralized system results in potential issues pertaining to EHR interoperability, data integrity and its security. This situation also results in the loss of patient identity which further turns into duplication and inconsistency in patient data. And then, there are strong blocks in the information flow.
Blockchain technology provides an excellent solution to handle all the data issues in the industry. It affects several aspects of healthcare operations with its application in digital identity, HIPAA compliance, drug supply chain and traceability, EHR interoperability, transactions etc.
The infographic below presents a business case of blockchain application in addressing major data concerns in healthcare today. It offers a quick glance at the future where all processes and the entire experience is centric to the patients for the healthcare ecosystem.
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