​Blockchain technology has the potential to transform health care, placing the patient at the center of the healthcare ecosystem and increasing the security, privacy, and interoperability of health data. Obviously, the healthcare industry lacks the technology that would make the most of existing hardware while avoiding costly mistakes and bureaucracy, improper or untimely treatment and, ultimately, potentially lethal outcomes. 

The costs that result from poor quality trickle down to consumers and patients, who shoulder much of the burden of ever-increasing healthcare costs. In order to improve healthcare accessibility, the utilization of medical resources must be made more accurate, more efficient, and more secure. In some settings, doctors and nurses spend as much time on paperwork as they do treating patients. Did you know that the 130,000 pages of Medicaid and Medicare rules and regulations are three times the size of the Internal Revenue code? Did you know that a Medicare patient arriving at the emergency room must sign eight different forms?

How The Blockchain Can Be Applied in Healthcare

Instead of having different data management solutions in every healthcare organization, we can take advantage of the blockchain and create a single public data exchange system for all industry players at once. Three fundamental components of a blockchain technology define the main advantages of a new-generation blockchain-based healthcare system:  decentralized system,  single data source, digital transactions.

Potential of blockchain for healthcare highly depends on the acceptance of the new technology within the healthcare ecosystem in order to create technical infrastructure.  Blockchain technology is still popular in the healthcare sector for development and implementation. It has taken the healthcare industry by storm over the past year and many solutions are being developed to adopt it. With so many potential use cases and possibilities, blockchain is sure to disrupt the healthcare landscape for good. 

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