Ways In Which Blockchain Can Transform Health Care Institution

Ways In Which Blockchain Can Transform Health Care Institution

12/03/2021 Off By admin
Ways In Which Blockchain Can Transform Health Care Institution

With the growth of the nation’s population, the health sectors are facing a crisis of new technological innovation to support the health care system. In the medical field of work, technologies are used at every step of medical procedure. Whether it is billing, providing a support system to the patient, or high-tech machinery used in the operations.

Nations are facing a crisis of technological support systems. But after the introduction of the Blockchain technology, scientists have found new ways to create new machines and medical tools to support the medical institutions.

In this article, we will discuss the facts that how blockchain technology holds a key to transform medical technology. Who would have thought that the technology used for creating Cryptocurrency would now be used in every field?

With the blockchain technology, all the information of the patient will be stored in one single chain. This way the history of the patient will be stored securely in one place. What medicine they were prescribed? Since how long they are suffering from the respective disease? What tests have been performed in the past? The blockchain will contain all the information related to the patience and their disease.

This technology will be able to act as a master data services for the medical team. With one look at the information in the master data services, the medical representative will be able to see the patient’s history and will able to come up with relevant treatments for them.

How can Blockchain influence the Health care system?

It has been well over a decade since the blockchain technology surface in the market. Initially, it was only used for creating digital currencies. But with time, people were able to come up with different modules that can use the blockchain technology in different field of work. Blockchain technology has influenced all the major fields of work, but the notable point here is that how putty can affect health care technology.

Let’s have a look at the possibilities of how the blockchain technology might affect the health care system.

  • Sharing and management of the medical data

In medical science, data is everything. Without full data, patience might get irrelevant treatment. This might lead to the death of a patient that might have been treated if the information was to the point.

You will find that there are still cases, where due to a medical error, the patient loses their life due to wrong medical treatments. This kind of catastrophe can be skipped with proper data management system.

Blockchain technology has the ability to do so. With a public ledger network, it can be used as a storehouse to safeguard all the information, past medical history at one place for the other docs to see.

  • Billing Management System

The next big problem that comes with the health care system is fraudulent billing activity. More than 5% of the total medical bills are increased by t5he fraudulent activity. Every year, the government loses more than $30 million in fraudulent billing systems.

However, using the Blockchain network, the cost of the medical cost can be done in transparency. This way medical institutions will be forced to restrict themselves from any fraudulent billing activity.

  • Case Management

Transferring to a new place means transferring to new doctors. This can be a hassle for the patient who have spent their years checked up by the same doctor. After visiting a new doctor, you have to explain your medical case to him from the start. The major issue arises when you are not able to provide the relevant document of your past medical treatments. This leads to a restart of the same old treatment.

But with the blockchain technology, you will be able to save all your medical data on the blockchain network and when the time calls for it, you will be able to show that to other doctors. With a simple look, doctors will be able to understand your current situation.

Final Thoughts

Blockchain technology is just in its initial phase, and it can not be fully implemented in the medical health care system. But one cannot simply neglect the advantages that it has brought. With the increase in demand for health care technological services, medical institutions are trying new possibilities. And one of the possibilities is blockchain technology.