Blockchain and healthcare, Right time for healthcare to embrace the technology

loading Blockchain in healthcare, Right time for healthcare to embrace the technology

This might be the right time for hospitals to get involved with unpatented Blockchain ideas to get themselves ready for the upcoming Blockchain storm.  Blockchain is all set to take over the world of healthcare, with its inherent qualities like immutability, high-security the technology will be a great progress in the healthcare system.

Blockchain and healthcare

Blockchain, the emerging technology, will soon become a must-have technology in the near future. With the bullish market, Blockchain involved banking and financial industries are looking for unnumbered ways to use Blockchain technology. With various use cases ranging from credentialing of practitioners to data sharing, in supply chain management Blockchain can revolutionize the entire system. Because of its privacy and interoperability it will be perfect for a wide range of healthcare needs.

It may be any application, if it involves accessing complex data from different entities, then the technology can provide a consistent chain of ownership and access to data. When implemented in a proper manner it can also be used for tracking the location of the patient, along with the test they have had in the most secure and stable manner.

At the present situation, many healthcare executives are expressing their interest in Blockchain technology, with money flowing towards the technology, healthcare hasn’t reached the point to place it among other Blockchain involved industries.  The patents for healthcare applications which mention Blockchain or distributed ledger have started to increase. The implementation of Blockchain technology will surely remove the complexity of transactions involved.

Enforcement of Blockchain technology will surely help in providing a system that is patient-centric, with the high security and interoperability offered by Blockchain, a problem in the present situation can be easily solved. With Blockchain getting an invitation from all the industries there will be more opportunity to get more Blockchain related applications into the market. The present centralized system has its own advantages; the key is to know when to use centralization and decentralization.

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