Healthcare organizations and providers all over the world are struggling to provide adequate and timely healthcare services due to mismanagement and inefficient delivery systems. As a result, exploration is being done around new avenues that can optimize the global healthcare industry for better delivery of healthcare services.
Among the contenders, blockchain technology has emerged as a potential winner because of its ability to safe keep patient records, streamline global access, and scalable solutions. Distributed ledger technology has been revolutionizing various industry sectors because of its inherent advantages, such as security and transparency.
Blockchain technology generally utilizes advanced cryptographic tools and the power of Artificial Intelligence to transform the landscape of an industry which in this case is healthcare delivery. Immunify.Life has expertly shown the power of blockchain in creating a cost-free and ready-to-implement solution that integrates the needs of patients and professionals.
CEO of Immunify.Life, Guy Newing, believes that blockchain has great potential in optimizing healthcare data while ensuring a patient-centric model.
“Blockchain has the potential to transform the landscape of health data as we know it today, to enable and accelerate the power of big health data in serving the global economy. Immunify.Life aims to implement a cost free solution in achieving that aim.”
What Challenges in the Healthcare Industry can Blockchain Help Overcome?
There is no denying the current healthcare industry is struggling to stay afloat while several of its apparent inefficiencies have become impossible to ignore. A few of the challenges that require immediate attention in the global healthcare industry are:
- Use of outdated technology for data collection and lack of secured infrastructure for seamless and interoperable data transactions between different organizations.
- Limited access to protected health information limits the progress in research.
- Data privacy breaches and illegal sharing of patient data with unauthorized organizations.
Blockchain technology has several applications in the healthcare industry, as demonstrated by Immunify.Life. Blockchain offers expert tools that can help to;
- Solve interoperability in the healthcare ecosystem for EMR, PHR, and EHR data by creating the next-gen system that couples health data with decentralized, immutable, and distributed qualities.
- Secure the supply chain across the healthcare sector by recording all the transactions on the blockchain to maintain an immutable proof of supply chain among vendors.
- Give the patient unrestricted access to their health data and offer them the ability to share their medical data globally according to their convenience.
- Compliance with GDPR and HIPAA standards when dealing with patients based out of Europe.
- Use of blockchain-based smart contracts to secure payments and automate manual processes to streamline the inner working of the industry.
- Accelerate Research and Development by empowering the industry with next-gen data collection tools and a consensual transfer of patient data with NGOs and other medical organizations.
Blockchain is emerging as the true winner for transforming the global healthcare industry because of its apparent features. By streamlining the management and data recording process of medical data, blockchain can help to accelerate healthcare services delivery.