Blockchain technology ? Creating new ways to better healthcare

Posted by Nisharao on January 23rd, 2019

Welcome to the new era in digital technology – Blockchain. You would have probably heard a lot about block chain with relation to bitcoin, crypto currency, and banking. This new technology is gaining foothold across many verticals including healthcare software solutions. Before we go into the details of how blockchain is being used in healthcare software development, let’s first understand what this new technology is all about.

What is blockchain technology?

It can be defined as an interlinked network of transition blocks. All data is stored in a network of computer systems, which are known as nodes. This technology enables public use of data while still ensuring data privacy. Blockchain technology enables users to access data from anywhere, but only if they have both the public and the private key (credentials/password) for the particular node.

What are the types of blockchain technology?

The three types of blockchain technology are:

1. Public blockchain

A public blockchain is open, transparent and accessible to everyone. It also means that everyone can review any data in the chain at any point of time.

2. Private blockchain

This type of blockchain usually belongs to an organisation or an individual. Clear roles and responsibilities of ownership, data sharing, data transfer, and confidentiality are designed and maintained in a private block chain.

3. Consortium or Federated Blockchain

While a private blockchain has one person responsible for the data, a consortium has a group of companies or individuals responsible for the entire network of data.

How is blockchain used in healthcare software solutions?

Blockchain technology opens up new avenues in healthcare software development. By creating a centralised network of data that is secure and accessible by all the relevant parties, healthcare information can be stored and transferred when necessary. The various means by which blockchain finds used in the healthcare field are:

• Patient data backup
• Protect patient data from security breach
• Patient data transfer
• Billing management
• Drug tracking
• Patient treatment follow ups
• Claiming medical insurance
• Ensure integrity of clinical trails
• Reduce audit expenses
• Ensure regulatory compliance
• Patient data management

Blockchain technology not just offers a convenient solution to store and backup vital patient data. It provides a secure means of data transfer to the concerned parties. At the same time, block chain ensures complete transparency of data access. It means that there is always a record of the people/systems that accessed particular patient or drug details. All these will come useful while ensuring drug compliance or preventing false medical claims. Blockchain technology could change the entire concept of medical data storage and sharing. With sharing comes the promise of true interoperability. How healthcare companies use this new technology now, is something that we need to wait and watch.