Top 6 Blockchain Use Cases in Healthcare!
The evolutions in Blockchain have introduced a new way to manage the healthcare system. Blockchain technology has streamlined healthcare operations but automating processes and eliminating human intervention.
Let’s dive in to explore how Healthcare can leverage Blockchain:
Electronic Health Records
- The patient records are managed manually delaying patient care.
- It is difficult to scroll through the patient history as the doctors have to scan the entire file and reports.
- Also, doctors have an incomplete view of the patient’s medical history and have to carry out the medical tests freshly.
- The medical records are handled by humans and there are high chances of errors leading to patient death.
- Blockchain-based electronic health records automate healthcare management ensuring quick patient care.
- It provides a single view of patient medical history eliminating the need for doctors to scan the entire records every time the patient pays a visit.
- These records are managed by the Blockchain system and hence the possibility of deaths due to human errors is nearly zero.
- Also, patients can seamlessly transfer their medical care from one hospital to another.
- Quick Patient care
- Reduce human errors
- With the current system, there have been too many disputes regarding the settlement of medical insurance.
- Also, the process has been long and expensive due to the involvement of multiple parties.
- The files travel for signatures to multiple offices, the insured person needs to visit the office regularly, leading to delays in the settlement.
- Many times, the insurance companies have failed to settle the claim.
- Blockchain-based medical insurance system offers seamless settlement of claims where the conditions are defined on smart contracts.
- Since the conditions are predefined on smart contracts they are immutable and this eliminates disputes between the parties.
- Smart contracts terminate the long processes and automate the claim settlement reducing delays and expenses.
- The blockchain-based system offers multi-party digital signatures and eliminates the need for files to travel to multiple offices. This reduces the delays.
- Quick Claim Settlement
- Digital Signatures
Drug Supply Chain
- The current system is not able to monitor the drugs at every phase and this results in mislabelling of drugs, or even counterfeit drugs being consumed by the patients.
- The pharma departments in the hospitals managed the inventory manually resulting in overstock or stockouts of drugs.
- Also, it was difficult to trace the errors that occurred in the supply chain phase.
- The Blockchain-based system offers real-time tracking of drugs at every phase of the supply chain ensuring appropriate drugs are consumed by the patients.
- Also, the system records the demand and supply automatically avoiding the situations like overstocks and stockouts.
- Real-time drug monitoring
- Reducing counterfeit drugs
- Appropriate inventory management
- For hiring the clinical staff, the management has to go through a long process to verify the documents, background, and much more.
- This process is carried out via email and might take a long time to complete the process.
- Also, there is a high possibility of records being mishandled or misplaced.
- The blockchain-based system records all the documents and certificates on the blocks, linking them to candidate IDs or contact numbers.
- The process is automated and doesn’t involve mail communication or paperwork, thus reducing delays.
- Since the process eliminates human intervention the possibility of errors and records being mishandled is near to impossible.
- Digitized process
- Quick hiring
- During the trials, a huge volume of data is generated, and managing it to provide accurate results for the study is a tedious task.
- There have been increasing cases of trail information, patient details, or even staff credential being breached.
- The blockchain-based system offers a decentralized ledger to manage huge volumes of data and provide accurate results for studies.
- The clinical trial information is recorded in an encrypted format and hence the probability of hackers accessing the information is next to zero.
- The system maintains the privacy of officials working on the trials.
- Decentralized System
- The hospitals process thousands of claim settlements and remittances daily. Hackers can easily get into the system and access the data resulting in heavy fraud.
- The transactions include multiple intermediaries like banks leading to additional charges or taxes.
- The possibility of overdue payments is also increasing and is handled manually leading to errors.
- The Blockchain-based system encrypts the transaction details ensuring a secure system preventing fraud.
- The transaction occurs directly between the two parties eliminating intermediaries and reducing third-party transaction taxes.
- For underpayments or overdue payments, the blockchain system directly generates an alert and automatically reports it to the authority.
- Secure Transactions
- Real-time updates
Hopefully, the above article has enlightened your knowledge of Blockchain use cases in healthcare. If you are a healthcare provider and looking to streamline your operations, RWaltz - A blockchain development company is the best choice for you.
Get in touch with us now and understand how our services will modernize your healthcare architecture. Hurry up! Go the extra mile to deliver extra care to your patients.
- Nine Ethereum Future ETFs Go Live in the US
- Mastercard Makes Music with NFTs
- Best Time to Launch a Crypto Token: 2024
- An Introduction to Tokens and Why They Matter
- The Future of NFTs: Will Bored Apes Still Reign Supreme in 2024?
- Driving Sustainability Through Waste Management Token Development
- The Explosive Growth of NFTs: Adoption Trends Among USA Crypto Users
- Transforming Food Supply Chains with Token Development Services
- US NFT Regulation in 2024: The Developments to Watch For
- Enhancing Digital Content Distribution with Token Development Services
Latest news, articles, and updates montly delivered to your inbox.