How Health Care Is Moving Toward Blockchain
Although individuals on different sides of the political spectrum are likely to disagree about what’s to be done to fix the U.S. health care system, few would likely dispute that the sector is in rough shape at this point.
To be sure, fixing health care is a process that’s sure to be lengthy and to involve many factions within the business, science and political worlds. Still, even as debates have raged about large-scale issues with the industry, technological advances have helped to increase efficiency in small but important ways: New software allows for the safer, faster transmission and storage of health records by providers, for instance.
On the other hand, it’s no secret that many parts of the health care industry are mired in technology and practices that could only be described as outdated. Pagers and fax machines come to mind. Many in the space agree with a 2016 report by the Government Accountability Office (GAO), summarized by HowToToken, that suggests that obsolete health care computer systems not only cost the industry money but also jeopardize the health and livelihood of patients. Given these issues, there are new signs emerging that the health care space may be primed to take advantage of blockchain technology, popular in the cryptocurrency space but not yet in the mainstream business world.
John Halamka, chief information officer at Beth Israel Deaconess Medical Center in Boston, explained that patient data often is scattered across different facilities, making it difficult to access at crucial times. Blockchain technology could revolutionize the way that health data is stored and transmitted. Indeed, given that it sports an ultra-secure cryptographic database and shared ledger to provide for speedy and easy communication, blockchain tech may be just the solution for the industry.
With blockchain, health care systems could store medical records confidentially, updating patient data across multiple facilities and locations in real time and with security. This would free up time and resources in health facilities to be further dedicated toward patient care and innovation, rather than administration.
Several companies have already made use of blockchain in an effort to enhance health care.
