The use of blockchain technology is starting to spread all over the industries. The medical industry is right in line to feel this disruption too. Picture the blockchain technology like a digital warehouse or store to protect data that are shared between networked systems.
This is why this kind of technology stands to benefit and change the face of the medical industry. A technology that can make data and information networking much more convenient and faster. It is not only about data sharing, but also about the security of data shared. This technology can lend a helping hand to the medical institutions in many ways, which will see blockchain and healthcare work hand in hand.
Medical Information Management
Over the years, there have been cases of lost medical data of patients which have led to the deaths of many due to lack of information about the patients’ previous conditions. This can be seen as a sign of insecurity and mismanagement.
The use of blockchain for health records is the perfect technological solution to this problem. With the help of blockchain, medical records can now be traced, the case of erasing information is decreased with patients’ medical records now tightly secured and any form of medical misinformation is eliminated.
Drug Supply Chain Transparency
Drug trafficking and counterfeiting have been a major problem for the pharmaceutical company supply line. Fake drugs take a large percentage of the drug market, which has led to the deaths of patients. Since these drugs will not give the same effect as the original.
With the help of blockchain, it is much easier to know who the drug trafficker is since all transactions or entries are time imprinted. The use of the private and public blockchain comes in handy. Given that, medical blockchain companies will have to update their products to affirm genuineness and quality.
So, once the drug moves from the producer to the consumer. The transactions can be traced and affirmed since the drug movement has been recorded. In this case, nothing can be hidden therefore allowing transparency in the drug supply chain.
Medical Trial Security
Medical trials are conducted when there are reports of new research or drugs to make sure a certain hypothesis is right or not. However, there have been reports of modifications and research theft. Given that, different scientists are working on different researches. However, there are lots of felons out there that are after their work since they are very vital.
The use of blockchain will make it possible for experimentations and trials to be conducted in an encrypted space without any form of interference. The blockchain technology makes it possible for clarification of information updated in the system. As mentioned, earlier this technology is capable of storing data in the most secure way. Therefore, making it impossible for any form of modification on the clinical trials since it records data that can’t be reversed.
Healthcare blockchain should disrupt the sector soon enough. However, we are still looking at a few years of experimentation before the sector can truly be transformed. In addition, the sector must buy into the idea of healthcare blockchain fully to allow the seamless transformation.