Blockchain in the Healthcare Industry: A different look at patient records

Challenges in patient records and care continue to persist in today’s healthcare landscape. Traditional systems constantly battle inefficiencies that could lead to lapses and life-threatening delays in patient care.

These inefficiencies can be detrimental during emergencies or when in need of seamless cross-border healthcare services. Due to the overloading of healthcare facilities in recent years, it’s been a challenge to maintain accuracy and sensitivity in dealing with medical records and cases.

Luckily, blockchain technology has made strides in the healthcare industry. Through innovative applications, this technology effectively addresses prevalent issues in medical records. Read on for more information on blockchain technology’s effects on healthcare.

Applications of Blockchain in Patient Records

The healthcare sector is one of those industries handling essential data. Proper data management is necessary for healthcare providers and institutions to serve patients better. Here’s how blockchain technology in healthcare contributes to that goal.

1. Immutable and secure record-keeping

Blockchain technology has an inherently tamper-resistant nature. Its digital ledgers shield against unauthorised access and data manipulation in healthcare records, wherein each entry becomes a permanent and unalterable part of the chain. This level of immutability ensures that patient data remains secure, enhancing credibility in healthcare companies.

For instance, medical records stored on a blockchain can help strengthen patient-provider relationships by fostering trust and transparency. Patients can rest assured that their records are confidential and safe from unauthorised parties.

In the current healthcare landscape, challenges persist in the seamless exchange of data among providers. For one, healthcare systems have disparate technologies and standards that don’t easily communicate with each other, making it difficult to share data across platforms and institutions.

Moreover, patient data is typically spread across multiple healthcare providers, departments and systems. This fragmentation hinders the creation of comprehensive and cohesive patient records, leading to incomplete insights that may compromise the quality of care.

Fortunately, storing electronic health records on the blockchain can address this issue through secure and interoperable data-sharing. Its decentralised and transparent network allows healthcare professionals to access patient records efficiently.

As a medical service provider, you can break down healthcare data silos that hinder collaborative care. Not only does blockchain streamline processes, but it also enhances the overall quality and continuity of patient care.

Besides interoperability, patients have security concerns regarding data privacy. Many may hesitate to share their information since they’re unsure who will access it.

With blockchain, a decentralised solution enhances privacy and compliance with regulations such as HIPAA. Implementing blockchain technology for healthcare records lets patients securely manage and grant access to their records through cryptographic keys.

On top of this feature, smart contracts can set specific conditions for authorised personnel when accessing someone’s health data. As a result, patients can have peace of mind with complete control over their information.

4. Verification for vaccines

With new diseases cropping up, verifying vaccination records is more critical than ever. Take outbreaks or pandemics, for example. Quick and accurate vaccination verification enables health authorities to implement targeted interventions, such as quarantine measures or additional vaccination campaigns.

Additionally, understanding the vaccination status of populations aids in determining which areas have low immunisation rates. Health organisations can focus resources on these regions to prevent outbreaks and work towards disease eradication. Blockchain-based solutions can be a powerful tool in this department.

Each vaccination record, cryptographically secured on the blockchain, becomes instantly verifiable. Health organisations can then reduce the risk of fraud and ensure the accuracy of individuals’ vaccination status.

Impact of Blockchain on Patient Care

Aside from patient records, blockchain technology in healthcare can also help improve the quality of treatment and care.

1. Real-time access to patient data

As a healthcare professional, you know how fast-paced the work can be, especially in cases where you must make precise and quick decisions on patient care. Fortunately, blockchain technology lets you do so by giving you real-time access to updated patient records. This instant accessibility translates into improved diagnostic accuracy and informed treatment decisions.

In an emergency where every second counts, using blockchain technology for electronic health records can be life-saving since there is ready access to a patient’s complete medical history.

2. Streamlined administrative processes

Blockchain use extends beyond clinical realms. Typically, administrative workflows involve multiple levels of approval, which can take up too much time and resources. Through smart contracts, blockchain can automate the progression of tasks, streamline approval processes, reduce delays and improve overall efficiency. This functionality speeds up the completion of each task from one step to the next.

For example, when a patient requests medical documents for insurance claims, blockchain for medical records can facilitate seamless interactions between insurers and patients, leading to a more agile and cost-effective healthcare system.

3. Transparent supply chain management in healthcare

Apart from administrative processes, pharmaceuticals and medical supplies can benefit from blockchain technology. Its decentralised and transparent nature is helpful in tracing the products’ journey at every step, from manufacturing to distribution and retail.

Plus, each pharmaceutical product has a unique identifier recorded on the blockchain, which includes details like manufacturing date, batch number and expiration. Manufacturers and consumers can verify the authenticity of a product by scanning its identifier, ensuring genuine and safe medications.

Pharmaceutical companies can utilise blockchain solutions to check product authenticity, address concerns about counterfeit drugs and safeguard patients from harm.

4. Accurate clinical trials and research

Blockchain technology can help keep an accurate record of clinical trials and research. Its immutability and tamper-resistant nature protect research data from misinformation and errors. Blockchain’s secure and transparent ledgers give stakeholders clarity on trial results.

Ultimately, blockchain fosters trust in the research process and paves the way for more robust and reliable medical advancements.

4 Challenges and Complications of Blockchain in the Healthcare Industry

While blockchain in healthcare offers many advantages, it doesn’t come without drawbacks. Consider the following challenges of implementing blockchain technology for electronic health records and other medical matters.

1. Regulatory compliance

Navigating regulatory frameworks and ensuring compliance can pose significant challenges in integrating blockchain. Healthcare is subject to a complex and evolving regulatory landscape. Different countries and regions typically have distinct regulations and compliance requirements.

Adopting blockchain solutions to meet diverse regulatory frameworks can be time-consuming. One must first acquire a deep understanding of these regulations to ensure compliance before utilising blockchain medical records.

2. Integration with existing systems

Implementing blockchain technology in healthcare requires a seamless integration with legacy IT systems. Achieving interoperability between blockchain and legacy systems is crucial to ensure data flow and functionality. However, legacy systems may not natively support the decentralised nature of blockchain, requiring careful consideration and adaptation.

A possible workaround is introducing blockchain functionalities in phases to minimise disruptions and allow integration without compromising existing workflows.

3. Preference for paper records

Most healthcare professionals still use paper records instead of electronic ones. Shifting to blockchain-based electronic health records involves a major cultural shift, requiring understanding and collaboration among healthcare professionals. But, the reluctance of some can make the transition more challenging.

4. Operational costs

Notably, transitioning from paper to electronic health records in the blockchain is not a fixed-cost endeavour. You may face operational costs associated with implementing blockchain technology in healthcare, such as hardware, software, technical expertise, and ongoing maintenance. Plus, continuous troubleshooting, upgrading, backup and reporting may also increase costs.

Identifying and acknowledging these constraints can help you strategically plan blockchain tech adoption with long-term sustainability and cost-effectiveness.

Build the Future of Healthcare with Blockchain Technology

The healthcare industry is experiencing a significant shift in handling patient data and records. Fortunately, blockchain technology can enhance patient treatment with its secure, transparent, seamless data-sharing nature.

Although adopting the technology may come with challenges, a strategic approach to these challenges makes blockchain technology in healthcare effective as transformative patient care that redefines the standards of healthcare excellence.

To help you understand the technology that powers modern healthcare, this eBook, ‘Enterprise blockchain products on the BSV blockchain’ describes how BSV can serve as infrastructure to aid the healthcare industry in delivering top-notch patient care in today’s data-based economy.