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Blockchain Effect on the Healthcare Industry

By Apac CIO Outlook | Monday, April 29, 2019

Initially, blockchain technology was intended to be used with bitcoin to store data, but now it is acknowledged as one of the most revolutionary technologies worldwide. It has brought revolutionary impact over many significant sectors such as banking, food industry, finance, supply chain, and even healthcare sectors. This unassailable intelligent creation is capable of making a huge impact on the healthcare industry.

The blockchain network has used to allow the medical professionals to update the patient’s stored data (i.e., medical history and pharmaceutical shipments easily either as images or excel spreadsheet. Thus, it is easy to share the stored data across the network. This feature makes blockchain a potential tool among medical professionals for sharing the medical data of patients. It was anticipated that could bring a significant impact during any emergency circumstances. If the patient is about to consult a new physician, the network will give quick access to the patient’s medical information.

Check out: Top Healthcare Technology Companies

FDA (Food and Drug Administration) is also ready to use this technology to monitor medication, and now it has better use of this recent implementation in a medical record system. To ensure the efficiency of this tracking system, FDA requests the vendors to keep track of it and finally gets a better result. Later, the FDA aims to track the distributed medication packages using this technology. The process helped the FDA to monitor the distribution of addictive substances. The security agents who take the role of checking addictive drugs while on transit also benefited. Misusing of addictive medications can lead to severe complications. But, the blockchain tracking system can minimize the misuse of drugs. The missing packages while transit can also be tracked using this system.

The secure and reliable method of storing and recording sensitive patient data enables effortless collaboration and creates a unique opportunity to reduce complexity. This has attained using blockchain technology. Still, blockchain is there to transform the medical world unforeseen manner. The healthcare professionals will certainly achieve benefit from implementing this technology.

Key Healthcare Tcompanies: DAP E-nnovative Solutions Private Limited, Origin Integrated Studios, SD Global Technologies