Beholding The Potential of Blockchain In Healthcare

Blockchain technology is not limited to performing secure transactions. It has applications in various industry sectors. Healthcare is one of them. There are a lot of issues that the current healthcare industry is facing. This robust technology consists of a distributed ledger that is ultra-secure. There is already a lot of hype around blockchain in the healthcare industry. The use of modern healthcare infrastructure, security protocols, top-notch frameworks, and advanced-level coding languages makes it a wonderful

Researchers have found that using blockchain in healthcare will overcome all the pitfalls and build a healthcare world that is advantageous to everyone. The role of this stupendous technology is not constrained to just hospital management but has branches in the pharma industry.

Before talking about the services of blockchain healthcare, let’s have a quick look at the challenges;

Statistics Related To Blockchain Technology In Healthcare

• The market size of the blockchain in healthcare was around $ 1.19 billion in 2021
• The expected CAGR is predicted to be about 68.1%(2022 to 2030)
• The market-by application is in sectors like clinical trials, Supply Chain Management, Data Exchange and Interoperability, etc.
• The market-by-end use is the Pharmaceutical Companies, Healthcare payers, Healthcare Providers, etc.
• The top companies active in blockchain technology are IBM, Microsoft, Gem Health, Guardtime, iSolve, LLC, and others.

Suffescom Solutions Inc. is a popular name in the blockchain industry. You can shoot your queries, and our experts will answer you swiftly. As a leading blockchain healthcare app development company, we allow our clients to ask for information about their projects at any point. Be in touch with us, as we will be pleased to help you!Give your imagination a touch of reality by contacting a well-advanced blockchain development company.

Challenges Faced In Healthcare

Lack Of Data Security

Data is the new oil. Everything is stored in the form of data. Specifically talking about the healthcare sector, there is massive information about the patient's records, hospital staff management, and other medical research and development services. With the technologies in Web 2.0, the data is stored online, but it's impossible to manage the whole information set. Security provider companies claim that they will provide top-grade security, but in reality, we all have seen the higher level of data breaches.

Medical Records in Paper Format

Several hospitals save the records of their patients in paper format. This makes the whole access to the patient’s records a difficult process. Subsequently, the paper format is always at risk of theft or loss. Even in modern hospitals, the records are kept in the online format, but due to outdated systems and substandard data security, the technical glitches can be caused in the software at any time.

Lack of Interoperability

In this era, we still have healthcare providers that share information through fax. And this is happening in the most advanced countries like the US. The use of electronic health records does not allow the sharing of data across diverse systems. Within the system, the data is sometimes blocked for communication. A higher level of interoperability is required for effective functioning.

Keeping Up With The Innovations

The biggest roadblock in the healthcare industry is always performing innovations at a large scale. A lot of research is conducted by higher professionals about the disease and finding the cure. After that, clinical trials are performed to check the practicality. This thing is missing today, and the biggest example that assures this fact is the Covid 19 pandemic.

Solutions Provided By The Blockchain Healthcare

Precise Data Security

Blockchain as a technology, if we categorically see it, is a chain of blocks that records a certain hash value. Due to the immutable nature of the blockchain, the hash value cannot be altered in any way. So, if the hacker needs to steal the data, the hash value must be changed, which is quite impossible.

The transparency offered is at an ultra-high level. This healthcare decentralized system is absolutely private. So, whoever are the network members, access to data will be provided to only them. It protects unauthorized people. Moreover, the identity of the individuals is hidden and replaced by tightly secured codes. This technology provides a common interface between healthcare providers, management, doctors, and patients to share data securely and swiftly.

Pharmaceutical Supply Chain Management

The pharma industry is lacking in various ways. The medicines do not reach the retailers in time; discrepancies are shown at the time of the manufacturing and the delivery. Most of the time is consumed in the transportation phase as the accurate time is not tracked. But blockchain provides a time-keeping ledger that validates the authenticity of the time at every point.

The entire shipping process is completely tracked. Along with that, the information about the manufacturing of the medicines and how much it took to get packed when it reached the supplier, the retailer, and eventually, the consumer. Every bit of information is tracked during the whole drug development. There is acute monitoring of the costs, time, and wastage at every level. The medical industry is going to gain a lot from this amazing technology.

Identity Management

Today we have seen many people faking their qualifications and pretending to be medical practitioners. Third parties were hired to cross-check their real identity. With blockchain, it's impossible to fool management. There are unique identity profiles in the blockchain network. The institutions are allowed to log in with the medical professional's credentials, whose information they want. By entering the credentials, they can acquire the full details of that person.

This step is crucial at the time of the hiring process. To make the process smooth and hindrance-free, this attribute comes into play. It takes less time as the information is tracked down and shared instantly. One can even check the experience of the existing employees for authenticity. R3 Corda is the blockchain protocol that is used in this verification system.

Remote Monitoring Via IoT

The solutions to the biggest problems in healthcare are performed with the implementation of IoT. It involves the sensors, user interface, devices, analytics, cloud, etc. The adoption of such technical devices provides clarity around the disease. The use of smart technology helps in informing the patients beforehand to eliminate any chances of mishappening.

For example, gadgets like watches show the heart/pulse, body temperature, breathing rate, and blood pressure. These values are constantly updated as to how the body reacts. So, in a hospital, if an elderly person is admitted, then the blockchain-based healthcare device will send an alert to the management serving the patient. Things like deteriorating vitals/ parameters are sent to the monitoring systems/software. This can save the life of the person before it's too late.

Hire developers from Suffescom Solutions Inc., as we have served in this industry for 13+ years. We have delivered successful blockchain solutions to our clients globally. Having experience of 5+ years in the blockchain realm, we have achieved trailblazing records by using innovative technologies like the Blockchain, Internet of Things, Machine Language, Artificial Intelligence, etc.

Stepping Forward In Genomics

Genomics is the study of DNA present inside the human body. The cells present comprise the genome copy that helps in the development and growth of an individual. Researchers are working in this field, but there are certain drawbacks surrounding the same. These pitfalls are successfully eliminated with the help of blockchain. The introduction of blockchain in genomics enhances the future health conditions.

People can even sell their genetic details to a much larger database, providing researchers with beneficial data like never before. This will help identify the medical conditions and plan a suitable health plan. This is a dynamic step towards better healthcare with proficiency in analyzing the disorders and taking organized steps towards it.

Suffescom Solutions- Your Perfect Healthcare Partner!

We are among the prominent names existing in the IT industry that develop scalable blockchain healthcare platforms. We are a team of experienced blockchain developers that have adequate knowledge about their work. We have delivered blockchain projects to our clients within the set timeframe. You can connect with our business team in case of any queries. Contact our experts to get free consultation services.

Blockchain Expertise

Our team members from every field have complete knowledge of blockchain technology. They are skilled professionals. This encompasses everything from the developing, designing, data analysis, sales & marketing project management, etc.

Project Discussion

Our team of analysts is always available on Skype and Slack. We will take cognizance of the problems you are facing while starting the project. We can even connect you with the project manager, who will take you through the details.

On-Time Project Delivery

Our developers start the execution of the project from the word go. We have specialists in every field that will develop the healthcare platform in a short time.

Round the Clock Support

We provide 24*7 customer support service to our clients. So, in case of any issues, feel free to reach out to us anytime.

Conclusion

Blockchain has the potential to remodel the entire healthcare structure. It can solve the healthcare problems existing worldwide, like shortage of beds, waiting lists, and amplified costs. Due to such shortcomings, the businesses develop a robust healthcare platform that is efficient and provides multi-features. Looking at the blockchain development solutions it offers, the future of healthcare is in the safe hands.

• Healthcare Industry
• blockchain developers
• Blockchain App Development