INTRODUCTION
Everything in healthcare is driven by data, particularly confidential information about individuals, from patients’ medical histories to medicine formulas. If you have ever moved medical information or been involved in a dispute with your insurance company, you are well aware of the difficulty associated with transferring such data to Blockchain Transform Lifesciences.
Although there have been advancements in medical treatments throughout the years, information sharing continues to be a significant obstacle. What if there was a straightforward and protected method to exchange medical information?
Here is How Blockchain Transform Lifesciences in 5 Critical Areas;
1. Networks of Health Information Centers
Patients should be able to negotiate their way through the maze of healthcare providers and systems with complete access to all relevant data.
How Blockchain Transform Lifesciences may be of assistance: Blockchain has the potential to provide a shared consent mechanism that is simple and straightforward to access. Patients would be able to make choices that are informed and transparent about which providers and businesses may view medical information if they had access to such a tool. In a similar vein, the method may make it possible for organizations and providers of healthcare to select what data they can utilize more rapidly.
2. Clinical Trials
The inadequate recruitment and involvement of patients, in addition to the excessive costs, are major difficulties for clinical trials.
How blockchain may be of assistance: With blockchain’s shared consent mechanism, managers might have access to more information to begin clinical trials with a more precisely focused population, which could, in the long run, lower clinical expenses and enhance patient outcomes.
The trial procedure might also be streamlined with the use of blockchain, which would make monitoring, analysis, and acquisition of data more efficient. Similarly, the use of blockchain technology to collect real-time patient information for the purposes of reporting and satisfying regulatory criteria may help clinical studies save both time and money.
3. The Manufacture of Drugs
The process of recognizing and tracking down pharmaceuticals that have been counterfeited has grown more difficult and expensive.
How the blockchain may be of assistance: Drugs may be properly tracked all the way through the supply chain thanks to the capability of blockchain to establish an exact and unalterable record of system transactions. This would greatly cut down on mistakes and significantly increase safety.
4. Therapies Based on Autologous Tissue
In the production of CAR T-cells and other treatments that are conceptually comparable, the handling of sensitive patient information is an essential part of the supply chain process.
How Blockchain Transform Lifesciences may be of assistance: The improved visibility, safety, and data transparency that can be provided by blockchain technology may reduce the amount of time, money, and effort required to bring these medicines to market.
5. Medical Claims
The medical system is plagued by duplicate data and inaccurate information because of the scattered structure of its suppliers. Meanwhile, insurance firms have to deal with the verification and processing of claims, both of which need a large amount of data from policyholders and providers. As a consequence, this leads to mistakes that are completely unnecessary, expenses that bog down the system, and susceptibility to fraud and poor management.
How Blockchain Transform Lifesciences may be of assistance Blockchain technology has the potential to provide an incontestable record of healthcare transactions, complete with particular data on the kind of monetary reimbursement that has been sought and received by all parties. This has the potential to decrease mistakes and fraud to a significant degree, in addition to providing a foundation for value-based healthcare.
Also Read: 7 Key Uses of Data Analytics in the Healthcare Industry
