Numerous applications of blockchain technology can be found in healthcare, but possibly the most compelling is its use to create secure patient records. The patient and his authorized healthcare providers have access to a golden copy of all records, including past ailments, treatments, prescriptions and outcomes.
Blockchain places the patient at the center of the healthcare paradigm
The flexibility of this solution would allow it to be used across the spectrum of healthcare players. The data, or specific parts, can be made available as required. For example:
- Key data can be provided to health insurers as a means to automate the claims process. This will cut costs and speed up settlements.
- A pharmacist can be granted ad hoc access to the current issue being treated, and a history of relevant issues and prior medications. This will prevent potentially harmful medication being wrongly prescribed. Pharmacists are specialists and may identify issues related to medication that many doctors are not aware of.
- Hospitals and clinics can make better decisions if a patent’s full history is available, and admissions can be streamlined.
Experiments around the world are being conducted on the feasibility of blockchain solutions.
ChainReactor provides healthcare networks the ability to build blockchain solutions using their existing IT infrastructures. Additionally there are tremendous benefits such as true High Availability (100% uptime) and enhanced speed of execution across large data sets.