Blockchain technology healthcare
The blockchain technology in healthcare market size is anticipated to record a valuation of USD 6. Blockchain technology is improving ongoing innovations in the medical field, modern businesses, as well as everyday life practices in the healthcare sector. Blockchain technology is now supporting healthcare providers in numerous areas of administrative management and patient care procedures. It has extensive applications in reducing the risk of counterfeit drugs, decreasing therapeutic errors, improving patient safety, decision support, etc. The significant development in healthcare technology to address identified gaps in healthcare facilities is leading to business growth. The public segment in the blockchain technology in healthcare market is poised to witness
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Blockchain technology healthcare
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Content:
- 5 Benefits Of Using Blockchain Technology in Healthcare
- The applicability of blockchain technology in healthcare contexts to contain COVID-19 challenges
- Healthcare
- Blockchain technology is ready to transform healthcare
- Blockchain Technology and its Implementations in Medical and Healthcare Field
- The Promise of Blockchain Technology in Healthcare
5 Benefits Of Using Blockchain Technology in Healthcare
With an intensified focus on treating individual patients and not their disease processes, comes the fundamental need for accurate clinical data that can be widely distributed to healthcare providers in an efficient, secure manner. Although the mandatory use of EHRs was established via the U.
Centers for Medicare and Medicaid Services CMS Meaningful Use criteria in [ 1 ], the broad array of economically competing EHRs used in different hospital systems significantly limits interoperability, and prevents fluid exchange of health information between institutions. In the modern era of information technology, an increasing amount of data is being transmitted and stored on cloud-based networks. As defined by the U. Thus, given the vast quantities of medical information generated daily, there has been a recent push towards cloud-based storage and distribution of heath care data.
Herein lies the complexity of designing a functional health information system that still maintains the core principles of a medical record, mainly comprehensiveness, accessibility, interoperability, confidentiality, accountability, and flexibility [ 7 ]. In , the U. Recently, there has been intense focus on the development of blockchain-based technologies around the world.
In existing payment models, such as credit card, money order, or electronic ex. PayPal transactions, a third-party intermediary exists to facilitate exchange.
Within a traditional transaction, the presence of a centralized institution, with inherent financial incentives, introduces the possibility of bias, dishonesty, and, ultimately, fraud. Furthermore, even with current financial technologies, the inefficient processes of transactional verification can take days before money is withdrawn from one account and deposited in another.
Considering these drawbacks to contemporary financial instruments, blockchain technology has developed over time to address the fundamental problems of transactional trust, speed, and integrity. Initially described in by the anonymous individual or group known as Satoshi Nakamoto, the Bitcoin blockchain was developed as a peer-to-peer electronic cash system [ 10 ].
The blockchain functions by sequentially adding encrypted blocks of transactions to a chain, and simultaneously distributing the updated chain to specified nodes across a network. Thus, since the updated blockchain is reliably distributed, the transactions within the individual blocks are immutable, and the integrity of the blockchain can be verified. Public identification keys are used between individuals in a transaction, and the payer cryptographically signs transactions using a hidden private key, known only to the payer.
Miners within a blockchain are nodes that construct blocks of transactions to be added to the chain, and are incentivized to work by collecting transaction fees. Thus, it is through the miners that a consensus blockchain is built and distributed to the rest of the network. Since the origin of Bitcoin, other competing cryptocurrencies have emerged, each with a unique distributed leger of transactions, but based on a variable blockchain code structure.
Most platforms have user-owned tokens that can be used to pay transaction costs, encode smart contracts, or transfer data between individuals on the blockchain.
Regardless, the fundamental principle of a blockchain, mainly the anonymous, distributed ledger of transactions, remains relevant and still lends itself to certain technologic applications, such as distributed cloud storage, encrypted digital identification, and decentralized payment strategies. Here, the parallels between blockchain technology and the core needs of the modern health care infrastructure are apparent [ 4 , 6 , 13 ].
In the following section, we review several potential solutions that blockchain technologies address in the current health IT landscape. A summary of the benefits and drawbacks of the use of blockchain in healthcare can be visualized in Table 1. Currently, there exists a significant challenge distributing medical records across health care platforms, for example, between a nursing home and an acute care center or even between two independent hospitals Figure 1.
This leads to inefficiencies in health data collection and failures to communicate essential health information such as medications and allergies. This would obviate the need for patients to bring paper or electronic records to a new health care environment; they would simply allow the provider to access to their medical data on the blockchain. Theoretical schematic of blockchain technology in healthcare.
This block is then presented to network participants for inclusion into the blockchain. When a block is incorporated into the blockchain, the entire chain is immediately distributed to all participants in the network, so that each has an identical copy of all data.
The resulting blockchain is decentralized no central authority has ownership , immutable changing blockchain data at one node is immediately rejected by the consensus , and easily accessible from any network participant. Several platforms are currently being developed to address optimal interoperability of electronic health records. Once providers query the blockchain, with explicit permission from the patient, HIPPA compliant data can be unencrypted and accessed from cloud storage, updated, and reincorporated into the blockchain.
Emerging blockchain solutions in healthcare information technology. Platforms may be theoretical, in development, or in current clinical use. With the overall goal of facilitating the exchange of medical data across healthcare applications, the FHIR protocol could be utilized as part of a blockchain infrastructure to break down data silos and securely share and distribute medical records.
As summarized in a proposal by Peterson and colleagues from the Mayo Clinic, medical documents would not be stored on the blockchain; rather, blockchain transactions may simply allow providers remote access to FHIR data [ 12 ]. Several characteristics of a blockchain infrastructure allow for a more secure data maintenance and transfer system, compared to current standards [ 15 ].
First, the distributed ledger system fundamentally records an immutable history of transactions. Any unauthorized record change would not be built into the blockchain, due to lack of consensus amongst network nodes. Second, data within blocks are fundamentally encrypted when added to the chain, such that outside participants are unable to decipher data within. Third, transactions within a blockchain are authorized with a private identification key, known only to the individual.
The ability to encode smart contracts within various blockchain infrastructures permits a more efficient value-based healthcare payment model. An insurance payer, for example, may encode reimbursement for a physician to be fulfilled only when certain conditions are met on the blockchain.
In this instance, the common mistrust between physician and payer is eliminated. Furthermore, software-encoded reimbursement or financial penalty can be tied to specific health parameters within the blockchain medical record. As such, human error would be removed from enforcing value-based payments, and physicians would be more efficiently held responsible for improving patient care. With a blockchain-based medical record, all prior history, testing, and imaging would be accessible to providers, thus eliminating unnecessary redundancy in the medical workup.
Maintaining an immutable identification source using blockchain technology would have significant impact for both patients and practitioners. Similar to traditional identification verification, individuals will be able to have their identities confirmed using a combination of personal, government, and financial records.
However, by leveraging blockchain technology, this verification can be stored and utilized in perpetuity. For patients, this can be used when attending appointments or for pharmaceutical pick-up.
For physicians, this can be used for licensing and credentialing verification, as well as transfer of license across state lines. With big data, artificial intelligence, and machine learning emerging as revolutionary scientific instruments, a healthcare blockchain infrastructure could permit more effective medical research. With a large, standardized, de-identified data registry, research institutions could perform more significant clinical trials and prospective analyses.
Amassing and analyzing information-heavy data sets, such as tumor genomics, would allow for a more personalized medicine. Interconnecting standardized medical data on the blockchain can permit this type of research with a high sample size. Furthermore, reporting of patient safety events and adverse drug reactions would be simplified and more accurately communicated to providers and the general population.
Lastly, with the greater use of wearable technology, personal health devices, and the Internet of Things IoT , the generation of massive, patient-generated data sets can be incorporated into individual medical records, and further analyzed using a blockchain network.
As opposed to existing EMR systems in which the medical data are controlled by the clinician, securing medical data on the blockchain allows the patient to become the primary intermediary in distributing his or her medical information [ 2 ].
The current global medical supply chain, consisting of pharmaceuticals, medical devices, and hospital goods, is fractionated and inefficient. Substandard, expired, or counterfeited products directly threaten patient care. A distributed ledger technology permits several advantages over the current supply chain delivery. First, the blockchain maintains an immutable record of available drugs and devices, preventing purchase of expired or counterfeit products. Second, it allows reliable tracking of transactions between hospital and supplier, leading to a greater cost-efficacy and accountability of hospital systems.
Lastly, a blockchain infrastructure can be used to facilitate information sharing between healthcare institutions and medical device or pharmaceutical companies, leading to a more effective feedback loop between providers and industry.
The foundational benefit of a blockchain infrastructure is its shared, non-modifiable record of transactions. However, the fact that data is shared amongst all participants in a network may seem to undermine the necessary anonymity of protected health information PHI.
This can be addressed by incorporating only de-identified and encrypted data into the blockchain. Whereas information in the blockchain itself is public, PHI stored in data repositories off the blockchain would be heavily protected and HIPPA compliant. Again, accessing this data would only be permissible by the patient, using smart contracts and an anonymous private key to limit access to only specified clinicians. Furthermore, maintaining a confidential private key is no different than protecting a social security number or institutional medical record number for medical data access.
The true strength of blockchain technology lies in its ability to confirm with complete certainty that a transaction or an event has taken place, without compromising the specific information of the event. Distributed data sharing requires a network of nodes to build and maintain the blockchain.
This poses two problems. First, creating such a healthcare network requires significant buy-in from the medical community. Existing medical systems preserve the status quo, and a novel healthcare infrastructure may prove too expensive or difficult for widespread implementation.
Second, maintaining a blockchain network requires significant computing power, which can lead to greater cost of hardware and energy consumption by a hospital system. In both cases, incentivizing participants in the healthcare blockchain may lead to its greater utilization.
Blockchain-based applications may distribute tokens to participants in the network, which can be exchanged for services such as increased data storage, faster data transfer, or access to a data repository. Tokens can also be traded for Bitcoin or U. Lastly, as it stands now, private medical data is highly protected by both the individual and his or her medical institution.
By claiming ownership over a large amount of health records, hospitals and practices monetize data sharing with researchers and industry partners ex.
The movement towards decentralized data storage and distribution on a blockchain may encounter significant pushback by institutions that value medical data ownership. Fundamentally shifting the ownership of personal health records to the patient will require a philosophical paradigm shift in both health policy and law. In the coming years, there will be revolutionary advances in the global health IT infrastructure. Emerging technologies will serve to address issues with the current system, including the lack of interoperability of electronic health record EHR software, the inefficient and insecure transfer of protected health information PHI , an ineffective payment system for value-based care, and the evolving need for patient-centered care.
Creating and implementing a blockchain-based healthcare network can address these problems in a revolutionary way. As novel technologies are developed, it is up to clinicians to maintain an accepting, yet inquisitive attitude, a willingness to implement new ideas, and a philosophy of feedback rather than absolute dismissal. Cunningham J and Ainsworth J. Stud Health Technol Inform. A Case Study for Blockchain in Healthcare: MedRec prototype for electronic health records and medical research data; J Med Syst.
Health Level Seven International. FHIR v3. Marshall A. Mell P and Grance T.
The applicability of blockchain technology in healthcare contexts to contain COVID-19 challenges
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Healthcare
To understand blockchain in healthcare, it is important to have a foundation about how this particular type of distributed ledger technology DLT works and how it can be applied to the broader healthcare ecosystem. DLT leverages decentralized peer-to-peer computing , cryptography and related technology to verify and propagate a chain of transaction records across a consortium, alliance, partnership, or coalition. Blockchain technology is based on decentralized consensus and is currently being implemented in both public and private settings. What is Blockchain? At [its] basic level, it enable[s] a community of users to record transactions in a shared ledger within that community, such that under normal operation of the blockchain network no transaction can be changed once published. While there are differences, oftentimes the terms blockchain and DLT are used interchangeably, especially when discussing the business value of the solutions. Blockchain describes a chain of data or transactions as blocks linked or chained together by cryptographic signatures , each of which is called a hash , stored in shared ledgers and supported by a network of connected processes called nodes.
Blockchain technology is ready to transform healthcare
Health services must balance patient care with information privacy, access, and completeness. The massive scale of the healthcare industry also amplifies the importance of cost control. The promise of blockchain technology in health services, combined with application layers built atop it, is to be a mechanism that provides utmost privacy while ensuring that appropriate users can easily add to and access a permanent record of information. Blockchains, also called distributed ledgers, enable a combination of cost reduction and increased accessibility to information by connecting stakeholders directly without requirements for third-party brokers, potentially giving better results at lower costs. New ventures are looking to apply blockchain technology to solve real-world problems, including efforts to track public health, centralize research data, monitor and fulfill prescriptions, lower administrative overheads, and organize patient data from an increasing number of inputs.
Blockchain Technology and its Implementations in Medical and Healthcare Field
Health information about any patent is extremely critical. As there are many malicious users and misuses of health data, this information is not shared amongst health organizations due to security and privacy issues. Blockchain is being explored as a platform for securely exchanging healthcare data among the organizations in public domains, allowing doctors and practitioners to have access to more comprehensive health histories and in turn provide better care to patients. Prospects of Blockchain Technology for Accelerating Scientific Advancement in Healthcare disseminates the recent research findings on blockchain in healthcare and reviews current state-of-the-art blockchain applications in healthcare. This book also discusses various challenges faced by the healthcare community in securing healthcare data. Covering topics such as consensus mechanisms, smart healthcare systems, and supply chain management, it serves as an essential resource for healthcare professionals, computer scientists, information security professionals, data scientists, policymakers, researchers, and academicians.
The Promise of Blockchain Technology in Healthcare
In healthcare, blockchain is widely regarded as technology that will protect data from costly and credibility-damaging cyberhacking. Many experts believe blockchain technology will drive innovation in health information and that it has the potential to solve critical healthcare issues, including interoperability, security, records management and data exchange. As with any new technology in a heavily regulated industry, widespread adoption of blockchain technology in healthcare is highly dependent on striking the right balance between innovation and regulation. Finding that balance requires an understanding of both the technology and the regulatory boundaries. At a fundamental level, blockchain technology is distributed peer-to-peer ledger technology built around four key concepts: decentralised digital trust, consensus protocol, immutability and security. Generally, blockchain technology structures each transaction into chronologically recorded blocks of data that are encrypted on a distributed public, semi-private or private database Linn and Koo
Blockchain offers a number of potential solutions to supply chain issues currently facing the medical industry. This developing technology offers opportunities for decentralized record-keeping and tracking of transactions, as well as increased overall efficiency and the removal of unnecessary intermediaries. Investigators have described the modern global medical supply chain as fractioned and inefficient, with expired and counterfeited products directly threatening patient care. They highlight 3 primary benefits of blockchain as a distributed ledger technology.
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.
Published on Authors of this article:. Background: Nowadays, a number of mechanisms and tools are being used by health care organizations and physicians to electronically exchange the personal health information of patients. The main objectives of different methods of health information exchange HIE are to reduce health care costs, minimize medical errors, and improve the coordination of interorganizational information exchange across health care entities. The main challenges associated with the common HIE systems are privacy concerns, security risks, low visibility of system transparency, and lack of patient control. Blockchain technology is likely to disrupt the current information exchange models utilized in the health care industry. Methods: To recognize the potential applications of blockchain technology in health care practices, we designed 16 information exchange scenarios for controlled Web-based experiments.
For healthcare, blockchain can be used for payment processing, but it can also improve interoperability, track claims processing, or develop and maintain provider directories. Blockchain -- the same technology powering Bitcoin and other cryptocurrencies -- is finding revolutionary new applications in the healthcare sector. Recently, Aetna, Anthem, and the Cleveland Clinic partnered to announce a new blockchain-based healthcare initiative, marking the latest indication of the potential impact blockchain could have on the healthcare sector as a whole.
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