Blockchain in Healthcare: Reviving Capabilities

Blockchain in healthcare has an extensive range of applications. For example, the ledger technology facilitates the secure transfer of patient medical records, manages the medicine supply chain, and helps healthcare researchers unlock genetic code.

With its capacity to deflate the current spending bubble, shield patient data, and enhance the overall experience, using blockchain in healthcare may assist ease the pain. The technology is previously being used to do everything from securely encrypt patient data to maintain harmful diseases.

Keeping critical medical data protected and secure is the most popular blockchain healthcare administration at the moment, which isn’t surprising. Security is a vital issue in the healthcare industry. Between 2009 and 2017, higher than 176 million patient records were exposed in data violations. The perpetrators took the credit card and banking information, as well as health and genomic experiment records.

Blockchain’s capacity to keep an incorruptible, decentralized, and open log of all patient data makes it a technology plentiful for security applications. Additionally, while blockchain is visible, it is also private, concealing the identity of any individual with complex and secure codes that can protect the sensitivity of medical data. Finally, the technology’s decentralized nature also allows patients, doctors, and healthcare providers to share the same information quickly and safely. Get more on Blockchain at stock master

Check out how these companies are applying blockchain to healthcare security.

BURSTIQ helps healthcare companies reliably and securely manage vast amounts of patient data. Its blockchain technology allows the safekeeping, sale, sharing, or license of data while keeping strict compliance with HIPAA rules.

FACTOM builds products that benefit the healthcare industry securely store digital records on the company’s blockchain platform available only by hospitals and healthcare administrators. For example, physical papers can be implemented with special Factom security chips that hold patient information and are stored as private data accessible only by authorized people.

MEDICALCHAIN preserves the integrity of health records while building a single point of truth. Doctors, hospitals, and laboratories can all demand patient information with descriptions of the origin and protect the patient’s identity from external sources.

GUARDTIME is assisting healthcare companies and governments in implementing blockchain into their cybersecurity methods. For example, the company was active in implementing blockchain in Estonia’s healthcare systems. In addition, it lately signed a deal with a private healthcare provider in the United Arab Emirates to take blockchain to its data privacy systems.

SIMPLYVITAL HEALTH is making its decentralized technology possible for the healthcare industry. Its Nexus Health platform is an open-source database that empowers healthcare providers to access pertinent information on a patient’s blockchain. Open entrance to crucial medical information encourages healthcare professionals to coordinate medical efforts more swiftly than conventional methods.

CORAL HEALTH RESEARCH & DISCOVERY apply blockchain to expedite the care process, automate administrative methods and enhance health outcomes. By including patient information into shared ledger technology, the company joins doctors, scientists, lab technicians, and public health authorities faster than ever. Coral Health also performs smart contracts between patients and healthcare professionals to guarantee data and treatments are perfect.

ROBOMED blends AI and blockchain to allow patients a single point of care. The company extends chatbots, wearable diagnostic tools, and telemedicine settings to gather patient information and distribute it with the patient’s medical team. In addition, the Robomeds Panacea platform involves patients in intelligent contracts that incentivize and guide them down the path to sounder health.

PATIENTORY has end-to-end encryption to ensure patient data is shared securely and efficiently. The company’s platform allows patients, healthcare providers, and clinicians to access, save and transfer all necessary data via blockchain. In addition, Patientory supports the healthcare industry moves more swiftly by housing all patient information under one roof.

CHRONICLED develops blockchain networks that demonstrate chain-of-custody. The networks support pharma companies to ensure their medicines arrive efficiently, and they provide law enforcement to analyze any suspicious activity like drug trafficking. In 2017, Chronicled built the Mediledger Project, a ledger system committed to the security, privacy, and performance of medical supply chains.

BLOCKPHARMA contributes a solution to drug traceability and duplication. By scanning the supply chain and establishing all points of shipment, the company’s app allows patients to understand if they are practicing falsified medicines. With the aid of a blockchain-based SCM system, Blockpharma weeds out 15% of all drugs in the fraudulent world.

TIERION audits reports, records, and medicines to hold a clear history of possession. In addition, the company practices timestamps and credentials to keep proof of ownership, ultimately a medical supply chain.

CENTERS FOR DISEASE CONTROL AND PREVENTION study blockchain to monitor conditions in a supply chain-like mode. The U.S. Government agency states blockchain’s timestamps, peer-to-peer health reporting, and data processing capabilities can support report disease outbreaks in real-time. By considering the trail of reported attacks, scientists can detect the origin of a disease and patterns that further suppress illness. The CDC might also employ blockchain to trace the opioid epidemic.

NEBULA GENOMICS is applying distributed ledger technology to exclude useless spending and intermediaries in the genetic studying method. Pharmaceutical and biotech companies pay billions of dollars every year acquiring genetic data from third parties. Nebula Genomics assists in creating a giant genetic database by eliminating expensive mediators and incentivizing users to sell their encrypted genetic data safely.

ENCRYPGEN is a blockchain-backed platform that facilitates the searching, sharing, storage, buying, and selling genetic information. The company preserves its users’ privacy by providing only other members to obtain genetic information utilizing safe, traceable DNA tokens. Member companies can manage the genetic information to develop their genetic knowledge and improve the industry.

DOC.AI users can opt into the company’s platform to partake in their medical and genomic data with an association of scientists that utilize the data for predictive modeling. However, it stores no patient data. Instead, once data is uploaded, encrypted on a blockchain, and worked in a trial, the information is wiped out to guarantee security and privacy.