Advantages Of Blockchain Technology

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BLOKCHAIN: HOW DOES IT FIT WITH HEALTHCARE IT? This article will disclose what Blockchain is and how it will change the whole healthcare industry. So if you’re a healthcare professional or an individual interested in using advantages of the welfares of Blockchain technology, read on! What if all medicines you’ve taken, information of every doctor’s visit, operations, and infection could be captured efficiently and accurately? How advantageous would it be if you can have the full history of your health? This is what Blockchain in healthcare industry could do remarkably well. Blockchain is the most important technology since internet, the internet is programmable information whereas Blockchain is Programmable paucity. Blockchain is popularly…show more content…
One of the main dare in Healthcare is Data sharing logistics and Patient Privacy. When patient approach different physician for different purpose, the same basic vital information and lab tests has to be taken again. If healthcare data was stored in Blockchain, when patients going for new physician, the patient can say, “I have my Health medical record and I gave doctor a token to access my records”. A Token is nothing but the permission given by patient to the doctor for accessing the record. Normally, Records stored in Blockchain will consist of Public key and Private Key for security purpose, the public key is known for all which is used to encrypt the data into the blockchain, but the private key is known only to the owner of record. The private ensures the security of data, since all the data was store under same platform, Blockchain supports…show more content…
The process results in errors and often leaves the patient uncertain about how much they need to pay. If these coerces were instead converted into computer algorithm (smart contracts) making advantage of Blockchain technology, the claim process would not only be interoperable, but also effort innovation, standardization and research. Trust and transparency can be injected into the process when both the data and the logic driving these decisions is stored permanently and made available to all shareholders through a database like blockchain. The result will be a standard shift toward transparency and interoperability, enhancing the speed and accuracy of cost reporting to patients. 4. Clinical Trials Clinical trials are defined as “Test the effectiveness and tolerance of a product on a group of patients in order to validate or invalidate theory. 50% of the medical trial go unreported. This, as a result creates safety concerns for patients and also generates information slits for the healthcare policymakers and the stakeholders. If the clinical trial details are stored as blocks in Blockchain technology, the protocols, results and other related information would be tamper free and time-stamped, resulting in less data loss and errors.

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