Top health industry issues of 2019

The healthcare industry has trailed other sectors in adopting new technologies and applications.

$408 per record — the cost of healthcare data breaches in organizations. Source

50% of clinical trials in the US are unreported.
Source

40% of healthcare data records contain errors or misleading information. Source

Current challenges within modern healthcare industry are:

  • Drug traceability
  • Poor healthcare data management
  • Data security in clinical trials
  • Medical device tracking
  • Patient records
  • Micropayments
  • High cost of new innovations
  • Lack of access to advanced treatments
  • Errors in prognosis
  • Overdiagnosis

Blockchain and healthcare: opportunities and applications

Already use blockchain: Humana, MultiPlan, Optum, Quest Diagnostics, UnitedHealthcare, CVS Health-Aetna and Ascension. Source

63% of health care organizations will invest more than $1 million in 2019. Source

33% of life sciences organizations will invest between $5–10 million in 2019. Source


Blockchain technology in healthcare delivers improved data exchange integrity, consent management, real-time data sharing, record keeping and more accurate data.

OpenLedger's experienced team understands the power of blockchain technology to transform healthcare through uses cases like these:

Blockchain technology in healthcare
Patient, Clinical Data
Patient, Clinical Data
Encryption & Digital Signature
Blockchain
Blockchain
Decryption & Authenticate Digital Sign
Healthcare Parties
Healthcare Parties
Dots

Clinical trials

Blockchain technology fosters transparency and trust between stakeholders, reduces audit costs, and improves pharmaceutical supply chain management.

It includes participants (manufacturers, packagers, distributors, dispensers, and regulators) and details like manufacturing locations, shipping dates, batch numbers, expiry dates, storage temperature, and unique identification numbers.

Healthcare data sharing

Blockchain technology preserves the integrity of data exchanges between healthcare providers, patients and third parties like insurers, delivering real-time data sharing, global standards, and regulatory compliance.

It also empowers individuals to be accountable for their healthcare, reduces costs and makes the healthcare industry more efficient.

EHRs and EMRs

Blockchain technology for health records management allows patients to control their own healthcare data, managing access by doctors, hospitals, healthcare providers and laboratories to past and present ailments, treatments, and family history of medical problems.

A single, securely-stored version cannot be accessed or amended without authorization.

Medical device tracking

Blockchain allows healthcare device tracking across device lifecycle from manufacture to decommission.

At every stage, know where the device is, a full location history and all the manufacturer, reseller, serial number, repair history and other data associated with the device.

Micropayments

Blockchain in healthcare is used to facilitate micropayments without a third party, offering a direct, trackable flow of transactions.

There are additional applications in rewards program development for patients who attend appointments on schedule, contribute their data to clinical trials and research and follow medical care plans.

Accelerating R&D

Blockchain technology streamlines and accelerates R&D in healthcare, boosting innovation, lowering costs at pharma and medtech companies, and quickly processing R&D data gathered from research labs from around the world.

Leverage transparency, auditability and accountability to benefit from the skills and knowledge of medical practitioners and researchers around the world.

Drug traceability

Blockchain application helps overcome the increasing risk of counterfeit or unapproved drugs.

Transactions are timestamped, drugs are registered by smart contract, pill containers are identified, and a complete path of origin, with integrated GPS and chain-of-custody logging, ensures reliable drug delivery.

Blockchain technology in healthcare Blockchain technology in healthcare
Blockchain technology in healthcare Blockchain technology in healthcare Blockchain technology in healthcare

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How blockchain in healthcare is advancing the quality of medical services

Blockchain technology has demonstrated its ability to reshape business processes across industries, and in healthcare it can address multiple modern challenges.

Explore the most promising benefits of blockchain application in healthcare that will redefine health data and shape the future of the healthcare industry:

Healthcare excellence

Blockchain technology in the healthcare industry enables a patient-centric approach to data management and retention.

Blockchain-based solutions for EMRs and EHRs facilitate innovation, optimize the efficiency of healthcare organizations and deliver higher service standards.

Improved information security

Better information security means better patient safety. Blockchain technology guarantees data provenance in healthcare and allows enhanced trust without the need for third parties.

A high degree of privacy and safety is obtained by authenticating and securely storing data.

Interoperability

Blockchain technology prevents unauthorized information access and improves patient healthcare data management.

The improved data sharing process is achieved through smooth coordination between multiple care providers, streamlined verification processes and automated claims adjudication based on immutable, complete records.

Data integrity

When EMRs and EHRs use blockchain, organizations benefit from smart health data manipulation.

Editing or falsifying medical data becomes impossible, and health information, medical test dates and results, billing and payments are immutably and automatically recorded, preventing fraudulent activity and saving money currently spent on manual data tracking.


Explore blockchain solutions for:

Supply chain

Supply chain

If you’re interested in the full range of blockchain solutions for supply chains, we have the experience and expertise to deliver.

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IoT

IoT

OpenLedger delivers innovative solutions combining IoT with encrypted, immutable, auditable blockchains.

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Logistics

Logistics

Improve your logistics processes with blockchain technology to gain competitive advantage and reduce operational costs.

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Real estate

Real estate

Explore the benefits of blockchain in real estate, including data management and financial processing optimization.

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Insurance

Insurance

Transform your key processes and leverage the potential of blockchain in insurance industry

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Automotive

Automotive

Whether it's ride-sharing, manufacturing, vehicle tracking, automotive interactions, blockchain can power your business.

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Why Work With Us

Extensive expertise

You’ll get access to the expertise both of our own blockchain products and of successfully implemented custom solutions

Extensive expertise

Cutting-edge solutions

The OpenLedger team is pioneering the frontiers of blockchain tech and employing it to drive your company’s success.

Cutting-edge solutions

Highly-skilled dev team

All our tech solutions are built by the in-house cross-functional team. The strongest blockchain specialists on the market will be working on your project

Highly-skilled dev team

Profound R&D

OpenLedger’s outstanding R&D department deeply researches unique ways of improving your products and services, so we can implement them together.

Profound R&D

We’d love to show how blockchain can help your healthcare business:

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