Many sectors are tapping into the benefits that blockchain can provide, and as a result, we’re seeing waves of innovation across diverse areas of society. The Healthcare industry is one such case, blockchain solutions are evolving systems to become more secure, efficient, and patient-centered. A number of industry-specific issues have the potential to be solved by blockchain – and can also lead to brand-new breakthroughs! This article provides an overview of how blockchain is evolving healthcare systems and introduces exemplary use cases from Luniverse’s ecosystem!
1. Secure Storage of Medical Records
One practical solution that blockchain can provide for hospitals and patients is secure and tamper-proof storage systems for medical records. The decentralized nature of blockchain means that records can be stored and shared instantly around the world. More importantly, systems do not require a central body that is responsible for dealing with all that information. This can make life easier for hospital staff, reducing the cost and time needed to maintain and share patient records.
It also improves the continuity of care for patients, as doctors can access a reliable record of previous treatment. Patients can trust that this record is secure and accurate, regardless of where they have received care previously. These systems do not sacrifice patient privacy either, as encryption provides the option to protect sensitive information. This way patients gain control over which doctors can access which information.
2. More Accurate Diagnoses and Treatment
Inaccurate diagnoses are potentially fatal, so ensuring doctors can access complete and accurate medical records ultimately saves lives. Doctors from different sectors, regions, and countries can instantly rely on blockchain systems to access detailed records. This means it is less likely that a patient will receive treatment or diagnosis that disregards their medical history.
Consider if you found yourself in a situation where you or a loved one needed urgent medical treatment while abroad. Knowing that an accurate record of medical history is accessible even by foreign doctors will greatly ease your mind.
Blockchain-based digital prescriptions can also significantly reduce the risk that a patient receives an incorrect dosage or the wrong medication.
3. Fighting Against Malpractice
Another way that blockchain technology can significantly improve industries is by helping to combat malpractice. As a patient, you want to be sure that all healthcare professionals are licensed and legitimate. Blockchain provides a tamper-proof method for verifying the authenticity of medical certifications and licenses, ultimately reducing the risk of fraud and ensuring that patients are in safe hands.
The implementation of blockchain technology in supply chain management also makes it easy to track the distribution of medication and medical products. Full transparency in shipping processes means that the authenticity and safety of products can be guaranteed.
4. Innovation in Medical Research
Blockchain not only improves and solves existing problems in the medical industry, but it can also help medical researchers and scientists make brand-new breakthroughs. Take the field of Genomics for example, blockchain can store billions of genetic data points, making analysis and sharing of genetic information around the world significantly more effective. More importantly, this data can be shared anonymously, to ensure patient data is always protected.
In a similar vein, blockchain’s capacity to securely store information is also vital in ensuring patient data is used ethically and securely for research and during clinical trials. Luniverse has direct experience with this kind of use case, as demonstrated by our innovative solutions for the JBCP project.
Luniverse Use Case: JBCP
Luniverse has proven experience when it comes to the medical field. Our enterprise-grade security and reliable Layer-2 solutions make us the perfect choice for blockchain-based healthcare solutions. The JBCP project was conducted by the Korea Health Industry Development Institute, Chonbuk National University Hospital Clinical Pharmacology Center, and Seoul National University Hospital. The innovative solution we helped to implement enabled efficient verification and traceability of clinical trial subjects. This eliminated the risk of forgery or falsification of data while ensuring the protection of patient data.
JBCP is a dynamic consent system platform; participants can authenticate themselves and researchers are able to efficiently manage trial-related data using Luniverse’s Decentralized Digital Identity (DID) services. The platform combats data forgery by allowing researchers to receive signatures and manage consent documents on the blockchain. This helps to solve some of the problems that occur in clinical trials, especially those related to the management of personal patient information and trial data.
It is clear that blockchain-based solutions have the potential to transform the healthcare industry and remove a significant amount of security and administrative pain points for both patients and medical professionals. The value of the global blockchain healthcare market is expected to grow over the next few years, influenced by government regulations and the speed of adoption by healthcare providers and patients. Education regarding new technologies and standardization across the industry are two of the most important issues to combat before mass adoption is realizable.
We may also see Web3 technology such as Metaverse technology entering the healthcare sector to offer services. This could include virtual consultations for patients, immersive medical training, or remote patient monitoring. For patients with limited access to hospitals or who struggle with mobility issues, these services could become essential tools for the industry.
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