Blockchain in Healthcare: A comprehensive guide for beginner
Healthcare is the sector that invents new technologies to provide accuracy and advanced solutions to their loops. Blockchain technology has the potential to revolutionize the healthcare industry by providing a secure and transparent way to manage and share patient data.
What is Blockchain?
Blockchain functions as a decentralized, distributed digital ledger that tracks transactions across a network of computers. Every transaction is stored within a “block,” and these blocks are connected in a “chain,” forming a secure and transparent record that is resistant to alterations or tampering.
How Does Blockchain Work in Healthcare?
The global blockchain technology in the healthcare market was valued at $531.19 million in 2021 and is projected to reach $16.30 billion by 2031, Nearly 40.8% from 2022 to 2031. As a part of healthcare, The common challenges lament & organizations face as,
- To carry medical records
- Storage of patient data, case history
- Interchange of records via multiple hospitals
These are a few pain points in common and where blockchain technology can be applied in Healthcare. This can improve the efficiency and accuracy of healthcare systems by providing a single source of truth for patient information that authorized healthcare providers can access.
Many top blockchain companies like digital solutions collaborated to develop a blockchain-based platform that allows healthcare providers, researchers, and patients to securely share and access health data. The platform tries to improve the security and integrity of health information, as well as facilitate data interoperability and transparency.
Currently, patient health data is often stored in centralized databases and paperwork making. So here in blockchain, it creates all the records and stores the inputs in blockchain as the platform is distributed ledger technology to create a tamper-proof and transparent record of health data. This ensures the integrity and privacy of the patient’s health information, as well as provides a transparent and auditable record of who has accessed the data and when.
Breakdown the process of blockchain in healthcare
Patient Data Entry
Healthcare providers input patient health data into the EHR system, including Name
Date of birth, Blood group, Address, Contact, medical history, test results, diagnoses, and treatment plans.
Data Encryption and Storage
The EHR system encrypts the patient data and stores it on a blockchain network. Each patient’s data is stored as a separate block on the chain.
Access Control and Authorization
Access to patient data is controlled through smart contracts, which define who can view and update the information. Patients, healthcare providers, and authorized personnel are granted access based on predefined rules.
Data Integrity and Audit Trail
Every update or access to the patient data is recorded as a transaction on the blockchain, creating an immutable audit trail. This guarantees data integrity and offers transparency regarding who has accessed the information.
Secure Data Sharing
When patients visit a new healthcare provider, they can grant access to their EHR through a secure and auditable process. The new provider can view the patient’s medical history and make informed treatment decisions.
This step-by-step demonstrates how blockchain technology can be applied in healthcare to enhance data security, interoperability, and transparency, ultimately leading to improved patient care and outcomes.
Blockchain provides a secure and interoperable platform for storing and sharing medical records across different healthcare providers which improves the continuity of care and reduces the risk of errors and duplication of patient information. By using blockchain technology, medical records can be stored in a standard format that can be accessed by any authorized healthcare provider, regardless of the EHR system they use.
The use of blockchain in healthcare can also streamline processes such as claims processing, supply chain management, and clinical trials. By creating a decentralized and secure network for data exchange, blockchain technology can reduce administrative costs, minimize fraud, and improve the overall efficiency of healthcare operations.
Apart from challenges based on the patient, healthcare centers can implement Blockchain to track the provenance and distribution of pharmaceutical drugs, ensuring that they are genuine and have not been tampered with. Here comes supply chain management where they track the movement of medical supplies and equipment, ensuring their authenticity and quality from the source as raw material → converted as pills → medicinal drugs → storage hub → transportations to retailer & suppliers → pharma → endures.
Pharmaceutical Supply Chain Management
Drug Manufacturing and Packaging
Pharmaceutical companies encode each drug’s unique identifier (e.g., serial number, batch number) onto the blockchain as it is manufactured and packaged.
Shipment and Distribution
As the drugs move through the supply chain, each transaction (e.g., shipment, receipt, transfer) is recorded on the blockchain. This establishes a clear and traceable record of the drug’s entire journey.
Verification and Authentication
Healthcare providers and pharmacists can verify the authenticity of the drugs by scanning the unique identifiers and accessing the blockchain record. This helps prevent the distribution of counterfeit medications.
Recall Management
In the event of a drug recall or quality issue, the blockchain record can quickly identify affected batches and trace their distribution, improving patient safety.
Final Thoughts
Blockchain technology has the potential to transform the healthcare industry by providing a secure and transparent way to manage and share patient data. As the technology continues to evolve, healthcare providers and stakeholders need to stay informed and explore the potential applications of blockchain in healthcare. Still confused? Get along with the best leading blockchain development company to know more about the blockchain in healthcare.