Blockchain applications are not limited to Bitcoin. The blockchain revolution has also entered the medical care industry and could put an end to widespread fraud in the medical system and treatment .
The blockchain revolution has also entered the medical care industry. 3 percent of executives surveyed in the health and medical system are planning a commercial blockchain solution this year, while it is expected to reach 3 percent by year 2. Medical care companies, technology innovators, and other sectors of the industry are grappling with two questions: 1. What is currently possible to do; What problems can Blockchain solve in the future. Blockchain's overall vision is to change the future of the medical care industry .
This solution is to create a shared database of health medical information that is accessible to all physicians and related individuals. No matter what electronic medical system these people use, but they should be able to connect to that database. The database should have features such as security, high privacy and reduced access to information so that physicians can spend more time on patient care and even better sharing research results to facilitate the administration of new drugs and treatment of the disease . Blockchain can provide a database of all of our health information such as medical prescriptions, radiology photographs, emergency visits, and insurance information .
Almost every person's state of health has changed over the course of their lives. With blockchain, one can imagine conditions that record a person's health information from birth to end of life. On the other hand, this system can save your life because emergency physicians are allowed access to information such as allergies, blood type and even genetic information to make more informed decisions when you are unable to explain. It can revolutionize the health of developing countries that do not have access to digital databases. Earlier this year, five health care groups launched a pilot program. It is very difficult to break the nightmare information of any industry and its costs .
Using a blockchain-based global health network, one can record all treatment records of patients at once
According to a worldwide study by IBM in year 4, the average data breach cost for a large company was $ 1.5 million . The Harvard Medical School recently released a report showing that about $ 5 billion a year is lost in the health sector due to fraud and fraud. In the United States alone, more than $ 5 million has been scammed in this year alone. For this reason, the industry desperately needs a system that has the capability to verify things. The Chinese block can address this need, so implementing a blockchain-based system in the global health industry is really essential. Here are some examples of how blockchain can improve data security .
Patient Records (Electronic Health Record)
Using a blockchain-based global health network, you can record all your treatment records at once. Each patient can have a unique blockchain fingerprint to ensure his or her identity and medical records are genuine. When using this system for a huge amount of data, health professionals will understand how accurate this new trend can be. The current global health system maintains patient records in a highly centralized manner .
Even in many developing countries, paper cases are still used. Since the implementation costs of the China Block Patient Records System are small, it is possible to record all patient treatment records on a single system. Platforms such as Medicalchain are currently providing such services to healthcare professionals and have succeeded in doing so .
Pharmaceutical cheating
Experts estimate that counterfeit drugs cause more than $ 5 million in damage to the industry each year. China's blockchain technology is well-used in the supply chain, and large-scale transportation networks, which have the same logistical concerns, are largely using this technology. Blockchain technology allows patients to ensure that medicines are valid. It can even be programmed to provide patients with production dates and other drug details. The MediLedger platform is another successful platform in the medical industry that offers a reliable cost-effective system to companies, utilizing a combination of features such as compliance monitoring, tracking, tracking and security protocols .
Blockchain technology allows patients to ensure that medicines are valid
The platform is compatible with the GS-1 system and provides a dedicated portal for managers of these companies to access critical network information when needed . The platform uses a blockchain where anyone needs permission to use the data. This allows patient data to be protected against unauthorized applications. The developers of the platform believe that China's block-based supply chain systems will become fully legal by the end of the year . The Food and Drug Administration (FDA) has also already responded positively to the platform. With such an enormous amount of money lost due to fraud, there seems to be no choice but to adopt emerging technologies .
Data security
In current systems, security and trust are the most important business concerns. Information can be accessed by anyone through communication lines and can lead to trust problems, especially in the health industry. There are also concerns over the availability of several providers that keep various unverified versions of the patient record. This can lead to various errors, incompatibility and incomplete information .
Because of Blockchain's use of encryption algorithms and the need for digital signature authentication within its data that is unique to each individual, the technology could be the answer to most of these concerns . Billing trusts can also benefit from the added capabilities of blockchain-based systems. In addition, a blockchain verification system can prevent credit card fraud .
Insurance fraud
The structure of health insurance in today's world is a highly dispersed and inefficient set of healthcare providers, insurance companies and patients. A patient goes to various doctors and specialists throughout his or her life. Because the health field has many activists, it is difficult to share and coordinate sensitive information between these activists. The medical records available to some of the activists in this area cannot easily be accessed by others. That is why creating a double and false record. This not only costs the health system a great deal, but it also puts additional processes at the forefront of patients' lives, wasting no time and no extra expense .
A secure, encrypted blockchain system can protect patients' privacy while also being a source of data about their records. This can save billions of dollars. Suppose you want to see an orthopedic surgeon because of a fractured leg. To provide proper diagnosis and treatment, your doctor must obtain accurate information about the fracture from the hospital as well as the diagnostic information from the first physician who examined you. The orthopedic specialist secretary should spend a lot of time getting this information and coordinating with the insurance company. Currently, the pattern of sharing information in the health system is very inefficient. The system has many problems, the main reasons being: First, the infrastructure needed to record medical records is out of date .
Despite the $ 2 billion market for electronic medical records, insurance companies and health care providers are still adhering to traditional, not-so-efficient, patient information registrations. Medical information is still exchanged manually between hospitals, insurance companies and pharmacies. Second, the stricter privacy laws are in place, preventing health institutions and activists from working more closely together. In fact, efforts to protect patients' privacy have increased the costs incurred by the health system. In the meantime, blockchain technology can make the balance of the scales more likely to benefit patients. Blockchain allows health system activists and insurance companies to encrypt it on a distributed ledger instead of storing patient records in separate databases .
Sensitive patient information is not available on this network, and other information needed to interact with insurers, hospitals and physicians is encrypted on the China Block . The problem faced by health institutions is the inability to share information securely across platforms. Easily share information, improve accuracy and speed in diagnoses and treatments, and optimize treatment costs. The blockchain enables hospitals and other health care providers to share information safely .