Blockchain Technology: The Perfect Ally of Healthcare Industry

By CIOReview | Tuesday, March 6, 2018

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The renowned consultancy firm Deloitte observes, “Blockchain technology has the potential to transform the healthcare industry, placing patients at the center of the healthcare ecosystem and increasing the security, privacy, and interoperability of health data, there of.” This statement reflects upon the immense potential of blockchain technology in revolutionizing patient care. The healthcare industry is weighed down by legacy systems, which takes a serious toll on healthcare standards. It makes healthcare inefficient and at the same time doesn’t improve patient care. By implementing blockchain-based solutions in the healthcare spectrum, hospitals, and other organizations can upgrade their systems, making it cost-effective and therefore affordable.

As such discussions inundate the technology world, more and more organizations, today, are investing in the healthcare landscape. BlockMedX is the outcome of the aforementioned hustle and bustle around blockchain. The tool allows physicians and pharmacists to bring better security, accountability, and transparency to the prescription drug industry by analyzing and monitoring millions of prescriptions. Another product that takes the challenge of improving patient care head-on is the inherently blockchain-based MedicalChain. It helps healthcare organizations to digitize medical records, thereby empowering users and leveraging numerous industry synergies.

Similar examples flaunt the market, preparing the ground for a robust and resilient healthcare tool that makes patient care convenient and effortless. With the proliferation of blockchain technology in EMR data management, healthcare providers are assuaged of the exorbitant cost they had to incur to store and share medical data. As the vibe of digitization spreads with blockchain being the flag bearer, a plethora of healthcare organizations are expected to get into the technology grove.