CIOTechie_Blockchain_BFSI_Healthcare-Physicians_Hospitals_Clinician_Clinic_Medicine_Medicare

How Is Blockchain Helping The Healthcare Industry

BFSI News

How_Is-Blockchain-Helping-The-Healthcare-Industry How Is Blockchain Helping The Healthcare IndustryBlockchain technology has grown far and wide and it is being utilized today by almost every industry including the healthcare sector. According to the market insights, the global Blockchain technology market is predicted to reach USD 2.3 billion by 2021, from USD210 million in 2016. In the healthcare space, Blockchain has the potential of advancing the entire environment of this industry, particularly for patients at large. Blockchain can benefit healthcare sector in many ways and care providers, healthcare center, and patients also can utilize this technology to produce, store, and share data at large.

Blockchain provides easy access to health data and records of every patient. The technology makes it possible for healthcare centers to store their data in the Blockchain-enabled system, as well as with using Blockchain; patients can also give access to the care providers to add in the new records. With this effort, doctors can get easy access to real-time patient’s health data which will eventually lessen the burden of data settlement. Blockchain provides interoperability and seamless health data exchange in all types of business. Interoperability is not just restrained to information exchange; it also expects trust among the systems and then utilizes the information further with equal accountability. But, it has a lack of a trusted digital workflow. But, users can be able to provide trusted and immutable data flow using Blockchain technology. Due to its huge potential, Blockchain makes sure integrity around the health data exchange by offering users the facility of a shared platform that further distributes health data interactions with the people in the network.

With Blockchain technology, users can further look ahead to access control and authenticity of the secured health information exchange. Apart from this, it can even reduce the administration-related inefficiencies by replacing traditional trustee administrators in the existing workflow of health data exchange.