As Blockchain is the most important and emerging technology at this junction. It has many advantages for several sectors including the healthcare systems since the healthcare bodies will remain in the list of the most eminent bodies. Blockchain is considered to be an “Answer to interoperability” and also “Write once read only record”. As the health care departments need to manage large and confidential records they need certain tweaks in their management system and Blockchain can be a boon for this case.
Blockchain will prove to be revolutionary for healthcare because it has no central administrator (explaining this it means like a bank keeps the records of all the transactions as the central body but in blockchain the records are not held by a central system, it is open for public viewing). This gives an advantage for data access. The minimal the data gets accessed by anybody, lesser is the chance of any corruption in the data. So in easy terms if Blockchain is used then following can be achieved:
- No corruption in data.
- Easy streamline of medical records.
- Enability of secure sharing.
Blockchain technology is a game changer as it has a potential to impact an entire landscape. According to a recent study on 200 healthcare executives 16% of them believe to have a commercial blockchain solution on board someday. The key players for blockchain adoption will be:
- Industry groups.
- Market makers.
If Blockchain is adopted then it can lead to a proper management and security of data within healthcare also in supply chain management it is an epitome of major concepts of influencing and being impacted.
On a brief note blockchain technology in every way will prove to be beneficial for healthcare. Better data sharing leads to high probability of accurate diagnoses, increased effective treatments and overall enhancement of healthcare organisations to deliver a cost effective care. This technology does not compromise on data security and integrity as it allows the tracking and making amendments in the data, user friendly.
One of the universally applicable aspects of blockchain technology is that it enables most secure and transparent monitoring of transactions. Also it being a decentralised system it reduces time delay and human errors.