Blockchain 4 healthcare fit for purpose

Industry insiders have proposed its use for everything from claims processing and administration to supply chain management and record storage. But as with any emerging technology—especially one as potentially transformative as blockchain—it introduces a number of issues and challenges for early adopters and innovators. As a result, the blocks in the blockchain link together in chronological order in a manner that makes the data within the blockchain difficult to modify. A consensus algorithm maintains the blockchain, allowing for replication, sharing and synchronization across multiple users, sites, and countries.

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Content:

• Google's DeepMind plans bitcoin-style health record tracking for hospitals
• Blockchain and Healthcare: Streamlining Medical Processes and Incentivizing Wellbeing
• Five Promising Applications for Blockchain Technology in Healthcare
• Will Blockchain Revolutionize Healthcare? The Truth or A Hype
• Build a custom email digest by following topics, people, and firms published on JD Supra.
• Blockchain technology: supporting continuity of care
• Healthcare Use Cases for Blockchain Technology

WATCH RELATED VIDEO: Digitally Transforming Healthcare with Blockchain

Google's DeepMind plans bitcoin-style health record tracking for hospitals

To embrace the potential the technology offers, healthcare organisations are now more actively seeking to partner with companies providing blockchain development services. Here, we take a look at some of the key benefits of blockchain in healthcare and five of the most prominent ways in which healthcare organisations are harnessing it to revolutionise caregiving. There are myriad benefits of blockchain. As a healthcare technology solution , in particular, it offers transparency, security, and efficiencies provided by the technology are enticing.

Below are just a few of the pros and cons of blockchain adoption in a healthcare setting. Patient medical records are, at present, dispersed and disorganised, leaving them open to the possibility of being mismatched or duplicated. EMR databases are also built around different schemas, making it incredibly difficult to unify datasets.

By using blockchain, healthcare institutions can avoid these discrepancies since whole datasets can be hashed into the decentralised ledger, making them available for all to search. This means that a user could, for example, look up an address and, regardless of whether there are multiple addresses or multiple keys, the same patient details would be returned.

With the proliferation of IoT devices and the surge in demand for remote healthcare solutions brought about by the COVID pandemic, the medical sector needs to implement solutions that protect the vast volumes of sensitive patient data that are being transmitted. Blockchain technology can enable smart contracts which carry out automated and secure analysis of medical sensors and create a log of all data transmitted on the blockchain.

The Journal of Internet Medical Research published a recent study on how blockchain technology for healthcare, in combination with tools such as AI algorithms, could be used to combat medical fraud, due to the incorruptible nature of DLT.

By harnessing blockchain technology, health insurers can accurately track claim submissions and handling in real time, across multiple parties. And smart claims contracts can create a detailed and unfailing audit trail, thus spotlighting untoward activity and reducing fraud prevalence.

One crucial area of improvement for the medical industry is the testing and development of new drugs and treatments; an area which is, at present, incredibly inefficient and expensive. Clinical drug trials are hampered by lengthy timelines, participant recruitment, lack of staff, inefficient data analysis, and so on.

With blockchain, physicians, researchers, and pharmaceutical clients can access information in parallel, significantly speeding up the process of drug development. One of the core promises of blockchain is its ability to enable interoperability, making the process of sharing important medical information as seamless as it can be.

This, in turn, prevents delays and streamlines operations to significantly reduce administrative costs. There are a plethora of other important applications in which blockchain can and is making a real difference in healthcare delivery. But, while blockchain has many advocates and is undoubtedly opening up many new possibilities for the medical industry, there are still some legal, ethical, and technical hurdles to overcome where patient data is concerned. Ready to revolutionise your healthcare organisation?

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They came to us with their best people to try to understand our context, our business idea, and developed the first prototype with us. They were very professional and very customer oriented. I think, without ELEKS it probably would not have been possible to have such a successful product in such a short period of time.

ELEKS has been involved in the development of a number of our consumer-facing websites and mobile applications that allow our customers to easily track their shipments, get the information they need as well as stay in touch with us. Blockchain could be one of the most pivotal technologies to take seed in the last ten years, transforming everything from finance to e-commerce to entertainment and more.

Indeed, it may be one of the most hyped infrastructure technologies in modern history. Five key use cases for blockchain in healthcare 1. Electronic medical record EMR management Patient medical records are, at present, dispersed and disorganised, leaving them open to the possibility of being mismatched or duplicated.

Secure remote patient monitoring With the proliferation of IoT devices and the surge in demand for remote healthcare solutions brought about by the COVID pandemic, the medical sector needs to implement solutions that protect the vast volumes of sensitive patient data that are being transmitted.

Clinical trial cost savings One crucial area of improvement for the medical industry is the testing and development of new drugs and treatments; an area which is, at present, incredibly inefficient and expensive. Enabling interoperability One of the core promises of blockchain is its ability to enable interoperability, making the process of sharing important medical information as seamless as it can be. Olha Zhydik Content Marketing Manager. Published: June 11, Blockchain healthcare healthtech.

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Blockchain and Healthcare: Streamlining Medical Processes and Incentivizing Wellbeing

Blockchain is a shared distributed digital ledger technology that can better facilitate data management, provenance and security, and has the potential to transform healthcare. Importantly, blockchain represents a data architecture, whose application goes far beyond Bitcoin - the cryptocurrency that relies on blockchain and has popularized the technology. In the health sector, blockchain is being aggressively explored by various stakeholders to optimize business processes, lower costs, improve patient outcomes, enhance compliance, and enable better use of healthcare-related data. However, critical in assessing whether blockchain can fulfill the hype of a technology characterized as 'revolutionary' and 'disruptive', is the need to ensure that blockchain design elements consider actual healthcare needs from the diverse perspectives of consumers, patients, providers, and regulators.

Five Promising Applications for Blockchain Technology in Healthcare

To embrace the potential the technology offers, healthcare organisations are now more actively seeking to partner with companies providing blockchain development services. Here, we take a look at some of the key benefits of blockchain in healthcare and five of the most prominent ways in which healthcare organisations are harnessing it to revolutionise caregiving. There are myriad benefits of blockchain. As a healthcare technology solution , in particular, it offers transparency, security, and efficiencies provided by the technology are enticing. Below are just a few of the pros and cons of blockchain adoption in a healthcare setting. Patient medical records are, at present, dispersed and disorganised, leaving them open to the possibility of being mismatched or duplicated. EMR databases are also built around different schemas, making it incredibly difficult to unify datasets. By using blockchain, healthcare institutions can avoid these discrepancies since whole datasets can be hashed into the decentralised ledger, making them available for all to search.

Will Blockchain Revolutionize Healthcare? The Truth or A Hype

The interoperability of electronic health records EHR in Europe is key, especially now the European Commission plans to publish a recommendation on the technical specifications for an HER exchange format. The policy outcome, adopting an EHR exchange format at EU level, could end the endless and costly interoperability discussion we have had for the last two decades. Despite some advancements towards more seamless interoperability in the healthcare sector, frontline deployment of continuity of care, based on data sharing in clinical care pathways, could benefit more from new IT developments. Therefore, it becomes key that the IT industry, the EHR vendors become connected to the frontline practitioner so products become co-designed, fit-for-purpose, reduce the endless hours nurses spend on data entry , leading to a general malaise towards software solutions that were supposed to help, but it really just means more work for the frontline.

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Patients accumulate vast quantities of healthcare data over the course of their lives. Those data are generally housed in centralized servers operated by various unrelated industry participants, including government regulators and payors, insurance carriers, hospitals, doctors, pharmacies and pharmaceutical companies. Unfortunately, those repositories rely on disparate data practices. In addition, they are alluring targets for bad actors. In October , the U.

Blockchain technology: supporting continuity of care

Blockchain is expected to impact reporting and auditing processes. Indeed, the increasing use of blockchain could affect the nature and extent of information available to auditors and how audits are performed. This paper aims to investigate how auditors are assessing the relevance of the current auditing standards in light of the emergent use of blockchain technology. The results of this study show that auditors consider the current auditing standards for IT to be too vague, and they need more guidance on both auditing blockchain and using technologies as audit tools. The original contribution of this study lies in the in-depth understanding it provides of the adequacy of the current auditing standards to audit companies using blockchain, which is an under-researched topic. Gauthier, M. Published by Emerald Publishing Limited.

Healthcare Use Cases for Blockchain Technology

Even though paper records for most medical practices have evolved to digital, all of that data currently resides in silos, where consumers attempt to reconcile data among their providers and health payors. From the proliferation of digital health data comes a second challenge: that of keeping the data secure. The past few years have seen an explosion of data breaches and medical identity theft.

New speech analysis technologies can help diagnose mental illness. But they also raise troubling questions. Genetic tests and genome sequencing are generating terabytes of sensitive private data. How can they be kept safe? Robert Lefkowitz is best known for revealing the mechanism behind hundreds of drugs in use today. But he thinks of himself as a storyteller first and has a new book out to make his case.

The U. If that stat wasn't jarring enough, consider the industry continues to be plagued by skyrocketing hospital costs, inefficient practices and constant data breaches. These very expensive problems are spurring a drive for greater efficiency and innovation. With its ability to deflate the current spending bubble, protect patient data and improve overall experience, using blockchain in healthcare may help ease the pain. The technology is already being used to do everything from securely encrypt patient data to manage the outbreak of harmful diseases. And at least one country is big on the potential of blockchain healthcare: Estonia. The size of Tennessee with the population of Maine, Estonia began using blockchain technology in to secure healthcare data and process transactions.

Besides the financial sector, one of the most promising use cases for blockchain technology is its application in the medical industry. How can we apply DLTs in healthcare? One of the many use cases for blockchain technology has to do with its implementation in modern healthcare systems.