At the end of 2019, a health insurance company in the United States of America has announced plans on utilising the blockchain technology to secure all the medical data of its 40 million members over the next three years.
The conversation starter for all of the changes – happened due to blockchain being a secured platform with no alteration that can be done by anyone. In fact, the transparency of every data is extremely solid. Applying blockchain to the medical industry will not only improve the management of the healthcare and insurance sector, but provides a better infrastructure as a whole.
Did you know that verifying medical credentials can take a toll on the medical practitioners? For instance; verifying and providing medical information as well as eliminating counterfeits on the supply chain of the pharmaceutical industry. To add up more to the gist of it, the resale of drugs from wholesalers to new distributors need to be facilitated from the start till the end process. Thus, applying Blockchain in the overall process will not just simplify things, but will also put verified and exclusive data throughout the management.
Blockchain technology is a powerful tool which can drive data integrity, transparency and interoperability. Various challenges and hindrances that can easily occur in multilevel authentication can be eliminated instantly; thus making the overall process smooth and fully authorised by every party involved. There are a lot of storage data centers across the industries of all kinds; which can sometimes easily manipulate the information if it is not widely accessible. In the end; trust amongst patients, hospitals, supply chain partners can instantly be demolished.
Since the early adopting stage of Blockchain in the healthcare industry, a lot of significant impact has been made. On that basis, positive remarks have been gathered and approved by the consumers, organisations and even the governments.
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