Blockchain technology and the impact it will have on
the healthcare industry...
Blockchain technology is defined as ‘the structure that stores transactional records, also known as the block, of the public in several databases, known as the “chain,” in a network connected through peer-to-peer nodes.’ This type of technology can be key in advancing and improving the healthcare industry.
Health should be a priority
Prioritising and managing our health is increasingly important as our lifestyles evolve in ways which take a toll on our physical, mental and emotional health. In 2020, health remains a United Nations globally recognised basic right, with a permanent emphasis on the importance of observing ethical principles in health policy-making, health research and repair provision. In January 2020, the United Kingdom BBC reported recent figures that about 30% of each £1 spent on public services is allocated to health. This 30 percent is critical to the technological components of health services administration, and the way this may be changed to deliver more efficient, cohesive and consistent outcomes.
Areas for Improvement in Healthcare
A major issue for patients often lies within the accuracy of treatment – whether that's during a standard GP consultation or seeing a specialist. This exists as an organisational hindrance in terms of accessibility to medical records, with recent changes in privacy legislation and data management meaning that patients can have difficulty retrieving their own records.
Reviewing technology and the way it can improve the health industry has led to discussions that blockchain data services may streamline record management without compromising on security. Blockchain relies on innovation and improvement, enabling organisations to realize better outcomes for both the health industry and its patients. When interviewed in Healthcare IT News, Dr John Halamka said: “The technology could help address the ‘vexing problem’ facing health systems everywhere: a way to share more medical data with more stakeholders for more purposes, all while ensuring data integrity and protecting patient privacy.”
How blockchain technology works
This technology functions using an encrypted data ledger that links secure blocks of knowledge together. Data is stored in synced databases that are replicated without a central administrator. because it may be a distributed database and records are spread across a network, this permits efficient data collection while maintaining system security.
How blockchain technology aids healthcare
As we get further into 2020, the health of our communities and world is at stake. Furthermore, in a very time where health professionals and governments are working against the clock to take care of public health, secure and streamlined access to health data can literally save lives. Blockchain technology makes patient data safer because decentralised data storage makes the system harder to hack. This is because there are multiple interconnected servers and changes can't be isolated to just one server; over 51 percent of servers must be attacked to compromise the network.
When it involves the storage of health data, having a database network means patients can have their own password that they use to verify access to records at a spread of hospitals and medical offices. Thus maintaining accurate data that promotes health without the necessity for vulnerable personal records. In terms of both individual and collective health, unified data systems assist both one patient and wider groups of individuals because patterns of disease spread can be identified more quickly. In line with Sergey Golubev, “These technologies are now relevant as never before, not just to business and therefore the economy but the longer term of public health and therefore the safety of world populations.”
Health Benefits for All
At a look, the advantages of blockchain technology are multifaceted across the healthcare industry – whether it's for a standard patient, the broader community or health professionals. Here are just a few:
Privacy: Blockchain technology offers increased privacy for the normal citizen, specifically if their personal ‘key’ code is required to access records. Additionally, the block structure means administrative users can only update entries they're granted access to – overall records within the chain remain secure.
De-stigmatisation: a permanent issue publically health is stigmatised issues and the way this affects patients seeking treatment. The privacy and security offered with blockchain records means patients retain some control and their history can't be transferred between professionals without their permission. Patient confidentiality is often maintained way more effectively thus offering greater scope for them privately accessing clinical support.
Organisation: In an industry where record-keeping is key, it's no surprise that healthcare is drowning in data management. Not only is it difficult to attain data consistency between staff as well as facilities, it's undeniable that, even with the most effective protocols, user error can occur. In health, user error has serious implications for both one patient and full communities. While blockchain technology keeps hospitals and clinics more organised, there's a further benefit for patients in terms of how this will ensure their documents are well-managed, including prescriptions and billing.
Overall, blockchain technology is a powerful tool with the potential to revolutionize the healthcare industry, and transform healthcare practices to become more secure for patients, and more efficient for medical officials.
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