Blockchain in Health Care
The wall street journal recently made an observation that stated that the United States will eventually be spending around 20 percent of its Gross domestic product on healthcare. While it is not wholly possible to address the immense costs that healthcare has in the forward future there are certain steps that you can take in order to ensure that the issues for example the customer service and efficiency can be improved overall in the span on time to improve the overall experience of healthcare itself as well. This can be done while maintaining the privacy of the customers as well. In the months following there was a large amount of excitement about the role that blockchain might be able to fulfil in the transformation of healthcare in the long term especially in the United States. Read more here.
Recently a few individuals who are closely related to healthcare itself have stated that the challenges facing healthcare recently are wide and spread and these challenges can be solved by the solutions that blockchain can potentially provide. John Halamaka who was the CIO of the Beth Israel Deaconess Medical Center in Boston, which was a Harvard related teaching hospital.
He is closely related to the scene of blockchain and healthcare and when he took over as editor in Chief of the Blockchain in Healthcare today medical journal which is new their newest issue saw Halamaka proclaim within it that he will be publishing the highest quality materials about the cases that require the use of blockchain currently. Since saying that it can be used because its new and cool is not enough in his opinion.
Halamka has knowledge of what exactly he needs to do and say. In his journal he has shown and goes on to say that he has worked on different types of blockchain applications and he known how it works and what works with it and what does not work with it. Since Blockchain is not exactly good for spending a large amount of data at the same time therefore it cannot be thought of as a platform for analytics and or analytical applications. Since blockchain on its own has some of the slowest performances in terms of transactions however, since tampering with it is extremely difficult it is great for seeing the ideal proof of work itself. Halamka spoke about what he exactly saw as the greatest challenge of healthcare where blockchain could make a difference on its own. He says that due to the lack of centralisation where blockchain is concerned it is necessary to see that there are three extremely prominent opportunities relating to it. Read more here.
Medical records are going to be potentially regulated by blockchain after this. The way to do this is that the medical record when it is generated and signed therefore it can be written in blockchain as well. This will then provide the greatest proof and confidence therefore the medical record cannot be changed. This makes sure that the medical record maintains total integrity. This concept can also be applied to the clinical trials as well and in order to maintain their integrity as well. The legality of the records needs to be maintained especially in legal cases or situations where they need to be above reproach. It would be very wise to start investing in cryptocurrency today and the best way to do that is by buying bitcoin with a credit card and utilising the power of the blockchain today.
The second concept is consent management. In the healthcare environment as its stands today where multiple different states and even locations could be having different policies regarding things like consent etc. Therefore, it could be used to also record the consent of patients. Since this is extremely important especially in cases where data of the patients needs to be shared as well. The parties who would want to access the data would need get permission through blockchain as well.
The third application could be a lot of micro-payments and their applications as well because of the fact the fact that patients could be incensed to be gaining traction. When and if patients follow plans for care, staying on their self-made schedule and also make sure that they maintain good health to function well at the same time. Also, it is possible for patients to be able to get rewarded for the data they have hold of. This can be seen in many ways and that includes data for the clinical trials and also contributing their data to projects that will use it. They will thus be entitled to compensation monetary or otherwise from the organisation that they have given their data to.
Halamka has seen how it could be possible for the blockchain capabilities to actually challenge the decentralisation of the medical data. Since much of the healthcare data in the world has been centralised in corporations etc. Since Blockchain itself does not have its own overseeing organisation it gives them a wide range of freedom in how to approach a lot of their work. It would allow all of the data of a patient to be gathered in a single proper space and eventually allow only the patient to have control of it and only they would be allowed to be able to give the rights to that data or share it with someone.
The future scope of this grand because of the fact that a blockchain network highly integrated with artificial intelligence and then it would allow the discovery of solutions to some of the grandest medical problems that plague the world today. While it does seem like it might never happen strides are being made and with the additional help of blockchain it might become easier. If you would like to read more about blockchain integrated with artificial intelligence visit this article.
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