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How can Blockchain benefit the Health industry?

Applying a Blockchain platform which combines efficient and detailed front end access to multiple parties will provide multiple benefits to the Health industry. These benefits will address: 1. Identity & consent 2. Removal of data silos 3. Enhanced medication security and authenticity 4. Deliver the possibility of efficient and direct communication to patients improving Identity & consent - Insurance companies, Pharma organisations, healthcare providers and importantly patients have the ability to confirm identity and provide consent for information to be used to improve overall patient service. This is done via a secure and immutable platform. Removal of data silos - High administrative costs are a burden to the healthcare industry. Multiple parties on multiple information management systems, many of which struggle to communicate which each other creates cost, inaccuracies and data silos. Implementation of a blockchain platform creates one platform of truth with information being able to be extracted from these management systems to resolve these issues. Authenticity of product & improved patient safety - Blockchain technology can create a platform of trust and transparency when it traditionally does not exist. As it has the ability to track assets from source and therefore communicate vital information to prevent counterfeit products & when supported by a front end application it can provide the ability to allow patients to check information such as dosage, duration and supporting information regarding treatment. The burden of administrative requirements in the health industry results in high cost and inaccuracies. When exploring the application of Blockchain technology operations costs can be reduced and inaccuracies can largely be eliminated by digitalising approval methods. The application of a patient centric platform can improve service and allow accessed to vital information such as dosage and frequency. Doing so can potentially provide health and recovery benefits. #technology #data #health #healthcare #blockchain #pharma #transformationalchange

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