How is the Blockchain Technologyaiding the Transformation of Healthcare?

The Indian healthcare system today is surely facing tremendous growth and development, but along with it comes immense challenges and hassles. Be it the onerous data sharing or complex management procedures, the advancements are increasing the pressure on the healthcare providers to control costs and continue providing quality healthcare to patients. In recent years, the healthcare industry has experienced a paradigm shift from manual paper-based solutions to digital healthcare solutions driven by the development of technology-based innovations like AI, Virtual Reality, and IoT. However, one of the novel technologies that is gaining momentum and catalyzing healthcare industryis the Blockchain technology. It holds a massive potential to transform and revolutionize healthcare in myriad ways.

Understanding the Functioning of Blockchain

A Blockchain is a decentralized, secure database that stores information as blocks of data. It is similar to a digitalized public ledger of cryptocurrency transactions, creating distributable data records that are easily shareable and accessible between connected database systems. The thing that sets Blockchain technology apart from other data recording systems is it’s decentralization of transactions, ensuringtotal anonymity, continuity, and enhanced auditability.

The Blockchain technology works without the need for one central administrator, and can effectively control the accessibility to any stored data within the shared ledger. With Blockchain, stored data cannot be altered, erased, or recognized until it reaches the recipient. This gives it remarkable security and hacker-proof properties, such that in order to hack a single block in the chain, it takes infiltration of every other block in the chain’s chronology, making it a virtually impossible feat for any hacker. This is why Blockchain has gained incredible appeal among healthcare providers across the industry so that the patient data remains secure and easily accessible for everyone in the system.

Blockchain technology allows patients to safely and privately access complete health history. With this Blockchain technology trend making ingress into the healthcare sector, it is expected to alleviate many of practical pressures in the healthcare system and provide both healthcare providers and patients with a secure, seamless, and efficient way of storing and sharing data.

Data Provenance and Integrity

It has become a necessity for healthcare providers to manage the humongous amount of health data on a regular basis. With the ongoing increase in patient numbers, the data volume increases each year, and Blockchain technology makes it easier for hospitals and clinics to process and store information. It helps bridge the gaps in data interoperability, ensuring privacy and security of information in the healthcare chain. The decentralized platform provided by Blockchain ensures information authenticity by anchoring health data to the public Blockchain.

High Security Standards

Secure information sharing methods are crucial for ensuring proper medical services. One of the primary reasons Blockchain is greatly sought-after by the healthcare world is because it offers a secure means to protect data than any other common encryption. With the advantages of cryptography, Blockchain technology allows healthcare providers and other subsector entities to verify the authenticity of the data, and store them securely, excluding intermediation in data sharing in insurance claims, PHI, and medical records. With the implementation of new security standards, the recorded and encrypted data becomes nearly impossible to be changed or removed.

Data Transparency

Otherthan data integrity, security, and provenance, transparency in data is one of the top advantages of using Blockchain. Healthcare providers need transparency in data accessibility and Blockchain’sdecentralized register of ownership makes it possible to record every transaction and store them securely with complete transparency. Every system or device that is a part of the Blockchain system stores a copy of the data block and every transaction has its own identification with the user and time included. Indeed, Blockchain offers a fully protected and secure data sharing method that widens its potential use in healthcare systems.

The advantages of Blockchain technology are compelling enough for healthcare providers to incorporate it into the system. It is certainly a major step in the right direction for the entire healthcare industryas there is more and more need forhealthcare organizations to enhance their operations in a secure way. The robustness and security of Blockchain technology show its immense potential to boost healthcare delivery and improve the quality of care, while at the same time reducing the costs of delivery.

No doubt, Blockchain technology is a disruptive innovation providing immense possibilities to promote more efficient healthcare systems and enhance healthcare performance, as a whole. In that sense, it is necessary for organizations to hire healthcare IT professionals who can leverage modern technologies and enhance healthcare operations efficiently. We, at IIHMR, take pride in being able to generate qualified and trained healthcare IT professionals, holding updated knowledge in every aspect of modern technology and security solutions. IIHMR, Delhi is a premier organization offering industry-centrichealthcare management programs that deliver the aspirants with the best of both worlds, i.e.,academic knowledge and practical exposure. We, at IIHMR, have always ensured that our students not only have a strong academic base about healthcare management but are also equipped with the latest trends in information technology and other advancements so that they stay ahead of the competition and successfully make their mark in their respective professional lives.