Using Blockchain for Medical Records Can Be Highly Beneficial
Blockchain is a new technology that is being applied to create some of the most innovative solutions across various sectors and this includes the health care sector as well. Blockchain for Medical Records help in preserving and exchanging patient data. It improves the performance, transparency and security of sharing medical data. This technology helps medical institutions to gain insight and improve the analysis of medical records.
How blockchain for Medical Records can prove to be beneficial?
Blockchain has the capability of reducing or eliminating the friction and costs of the current intermediaries. It has several advantages for the stakeholders who belong to the healthcare ecosystem. If you capitalize on the technology, it can connect the fragmented systems that will help in generating insights and assess the value of care better. Getting the best Blockchain Technology for Patient Records will benefit you greatly.
One of the major challenges that the health care sector faces is ensuring the authenticity of the medical goods. The block chain based system tracks the items from the manufacturing stage itself. This allows the customers to have a full-proof visibility about the goods that they are purchasing.
This is one of the top priorities for the industry because it helps in developing markets where counterfeit prescription medicines cause several thousands of deaths in a year. This is also important for medical devices. This is because these are proliferating quickly. There are more remote health monitoring being adopted and this is also attracting the attention of the bad actors.
Blockchain Technology for Patient Records
The health care system in all the countries and regions is struggling due to the issues related to data sileos. This means that the patients and the healthcare providers do not have a complete view of their medical histories. One of the best solutions to this problem is to create a system based on the block chain technology that helps in keeping medical records that can be linked to the existing medical record software and thereby act as an overreaching single view of the record of the patient. It is important to know that the actual data of the patient does not go on the blockchain. It is rather every new record like the note of the physician, the lab result or the prescription translated into a unique hash function which is a small string of letters and numbers that are stored in the blockchain. Each of these hash functions is unique. This can only be decoded if the owner of the data( the patient) gives his or her consent.
In this sort of scenario, each time there is an amendment to the record of the patient and every time the patient gives his or her consent to share a part of the medical record, it is logged into the blockchain as a transaction.
Benefits of using Blockchain for Medical Records
The biggest advantage of the Blockchain for Medical Records is that it enables EMP is that it helps in creating a better experience for the patients and the health care providers as it has a comprehensive single source of truth for the medical records. This also creates a better experience for the health care providers and patients.
With the help of Blockchain for Medical Records , patients can check and update their medical records every time and give explicit content every time they are shared with the health care providers or with others. If the patients want, they can also check the medical records with the researchers and also set a time limit on how long a third party can get access to the medical information.
The medical insurers are able to receive validated and immediate confirmation of the health care services directly from the patients without losing any time and the cost of the intermediary. The invention of much more complete, digitalized and shareable patient health records will have a profound influence on the healthcare market. This will also help in fuelling much more advanced analytics.
Blockchain for Medical Records
There are various players in the healthcare sector and these include medical devices, whole-sellers, insurers, healthcare providers etc. They can authenticate their ids as organizations, track transactions, and log contract details as well as the payment settlement details for goods and services. This sort of environment goes beyond supply chain management. This also enables the trading partners as well as the insurance providers in the health care sector to operate, based on the fully digital as well as the automated contract terms.
When there are digital contracts shared between distributors, manufacturers and health care organizations who are logged in to the blockchain ledger, it will reduce over the payment charge back for the prescribed medicines and other goods. On the other hand, if each of the players have a version of the contract, that will increase the chances of disputes.
The structure of the pricing often changes and there are more than a million charge-back claims made between the players every year. More than 5% of these are disputed and this requires a lengthy manual resolution. The shared smart contracts can be used in a similar way to manage the medical insurance contracts for the patients and here, there are as much as 10% of the claims that are disputed. Once you digitalise the data and it is easily accessible, the insurance providers will be able to use much more advanced analytics and will also be able to optimize the health outcomes and the cost.
Credential Verification of the Medical Staff
Blockchain Technology for Patient Records is also able to track the experience of the medical professionals where the trusted medical institutions and the health care organisations can log in to the credentials of the staff. This will help them to streamline the hiring process for healthcare organisations.
Blockchain system helps you to do the credentialing for the health care organizations during the hiring process much faster. This also provides an opportunity for the medical institutions, the health care providers and the insurers to monetize the existing credentials data on the past and the existing staff. The best Anti counterfeit services in India will benefit you greatly.
Blockchain Technology for Patient Records provides IOT security for remote monitoring
One of the biggest advantages of digital help is the adoption of remote monitoring solutions. Here different kinds of sensors are used to measure the vital signs of the patients and this helps the health care practitioners to get a better visibility of the health of the patients and thereby helps them to get much more proactive and preventive care.
Security is a very big factor in the health IOT to ensure that the data of the patient is secure and private and is not pampered with to create any kind of wrong information. In certain cases where the connected device is dependent on the emergencies like the carer of an elderly person who has suffered a fall or a heart attack, the supporting systems need to be more resilient to DDos or other attacks and disrupting services.
How Blockchain Technology for Patient Records help in securing remote monitoring IOT devices?
Blockchain Technology for Patient Records ensures that only the parties that have the required permission will be able to gain access to the personal data that is stored in the blockchain as a unique hash function. If there are any changes made in the source data, it will create a different hash function. The user needs to have a specific set of cryptographic keys to decode the hash function into the source data.
Once the data of the patient is recorded in the clock chain ledger, it becomes almost impossible to tamper with it as it would need access to all the stored copies. The decentralised nature of the blockchain also means that the IOT devices can interact with each other without going through a centralised server as most of the IOT connections do today.
Conclusion
The Blockchain Technology for Patient Records is a distributed system that helps in generating and storing data records. This also maintains a digital ledger of the connected blocks of information. These represent how the data is shared, changed or accessed on the peer-to-peer network. All the devices that have the same clock chain system, will generate identical blocks when the connection device is involved with a particular kind of transaction. If the data of one particular computer is accessed, changed, shared or manipulated, a block is generated to record the information on each device. This helps in identifying any kind of changes that have been made to the data. This is a decentralised approach that allows data parity to be achieved by connecting the block of every device.