Blockchain In Healthcare: How It Could Make Digital Healthcare Safer And More Innovative

Digital healthcare trends are largely driven by the need for better patient care, faster and more accurate analysis, and on-demand access to medical data. The pace of innovation in digital healthcare began gaining momentum with artificial intelligence (AI), and it is set to further accelerate as the industry turns to blockchain technology.

Blockchain technology is being leveraged to remodel the collaborative exchange of vital research and useful healthcare data, thereby enabling key stakeholders such as clinical researchers, doctors, pharmacists, and other healthcare providers to gain secure, faster, simplified and reliable access to electronic medical information. The industry already has a similar platform called the health information exchange (HIE). Many healthcare technology vendors — including my company, a medical data and image management cloud-based service — can integrate with HIE systems.

The emergence of 5G wireless networks and blockchain will help redefine and rethink digital healthcare

The new generation of faster-than-ever mobile (wireless) communications technology, 5G, is around the corner. With its unprecedented data transfer speed and strength, the technology is being seen as the holy grail of innovation, since it will help accommodate advances made in AI, machine learning, neural networks and blockchain across various verticals, including healthcare. As this new technology ecosystem emerges, blockchain promises significant improvements in capturing and managing patient records and claims data.

The financial services and banking sectors have already experienced great benefits from blockchain. Simply put, the disruptive technology is a digital ledger that stores permissioned blocks containing immutable records of data that can be accessed and shared by authorized members, with the guaranteed integrity from the point of data generation to the point of use, without manual intervention.

At a time when regulatory compliance is becoming extremely stringent in the wake of major data breach incidents, blockchain also has immense potential to underpin a new system that effectively meets demanding guidelines in patient and healthcare data protection.

Credit: Forbes