5 Ways Blockchain Technology Will Revolutionize How the Health Care Industry Does Business
Systems Integration
Blockchain, which is based on a peer-to-peer shared ledger architecture, uses open-source software, readily available hardware and open APIs. When combined and applied to the health care, these technologies make it easier for medical facilities and practitioners to exchange data within the blockchain. Complex point-to-point integrations would cease to be a requirement for data integration. Likewise, with blockchain system and data integration, everyone from patients to researchers and health care professionals would be able to find accurate, timely and comprehensive patient data in one central location.
Access Control Management
Blockchain technology can be used to gather data from a variety of sources, including wearable sensors, mobile applications and electronic medical records (EMRs). As a result, it could also be used as an access control manager for health records that aren't directly stored on the blockchain ledger, such as images and paper documents. Each transaction would contain a unique identifier, an encrypted link to the data and metadata that would aid in locating the data repository. Any changes made to the ledger would be reflected in every copy of the ledger held by members within the network and would include a built-in disaster recovery system. Data encryption and cryptography, both of which are already considered part of industry best practices, would keep data secure.
Personalized Health Care
With information available from multiple data sources, highly personalized medical care is the next logical step. Daily personalized care would give health care professionals the ability to analyze the risks and benefits of treatments for each individual patient, taking into account both data and patient feedback. In addition, studies suggest that patients are more likely to comply with medical recommendations when they know that they are based on their individual needs and not generalized medicine. Data like that from blood sugar or blood pressure readings would be analyzed daily, allowing doctors to create increasingly specialized treatment plans based on real outcomes.
Real-time Data
Continuous real-time data would be assured with blockchain technology. This information could be used to dramatically improve clinical care and ER management software. While wait times and treatment in the US would improve, clinics and hospitals in countries with a shortage of medical staff could use this real-time data to more effectively allocate their time and resources to patients who need it the most. Similarly, "smart" applications that use blockchain would enable 24-hour monitoring, giving healthcare providers the ability to identify when a patient has reached a critical status, resulting in early prevention methods.
Medical Staff Recruiting
High turnover and staffing shortages mean that medical recruiting is more challenging than ever before. However, blockchain has the power to make the process a lot simpler with a streamlined health care applicant tracking system. High costs and the redundancies associated with verifying applicant credentials will become a thing of the past. Transcripts, certifications, work experience and even goal attainment will all be traceable and verifiable with a high degree of confidence. Likewise, attracting top talent who are strongly oriented towards patient care will also be easier as the application process works to match only those who are a good fit behaviorally and qualitatively.
Blockchain technology is poised to change the digital and transactional landscape for a number of industries, though few will be as thoroughly and beneficially impacted as health care. From improved data access and security to life-saving preventative treatment and exceptional talent recruitment, blockchain has the power to revolutionize health care in ways that will ultimately make it better for everyone.
