Blockchain: Opportunities for health care
Blockchain technology has the potential to transform health care, placing the patient at the center of the health care ecosystem and increasing the security, privacy, and interoperability of health data. This technology could provide a new model for health information exchanges (HIE) by making electronic medical records more efficient, disintermediated, and secure. While it is not a panacea, this new, rapidly evolving field provides fertile ground for experimentation, investment, and proof-of-concept testing.
What is Blockchain in Healthcare?
Currently, several healthcare systems are facing challenges attributed to limited access to care, exorbitant costs, imprecise reimbursement models, and the unreliable quality of patient safety & care. This has resulted in the innovative form of the new accurate healthcare ecosystem. Advance technologies including blockchain and deep learning can help in saving costs, increase data flow, improve regulatory compliance, and enhance patient experience and outcomes. In 2017, FDA and IBM Watson partnered to secure patient data exchange by leveraging blockchain technology.
Click to Download PDF Copy of the Ultimate Guide to Blockchain in Healthcare
Benefits of blockchain in clinical trials:
Provide an immutable record of trial history
Eliminate data manipulation
Smart contracts can act as trusted administrators
Cryptographic validation of data by the network