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Blockchain Revolution in the Healthcare Industry

The healthcare sector can benefit significantly from different professionals and spokespersons focusing on the best ways to improve medical services delivery. Although such individuals might not be medical doctors or practitioners, the can present evidence-based ideas to transform this industry. This paper analyzes the blog How Blockchain Could Revolutionize the Healthcare Industry by Krupa Bathia. The author is an IT specialist and examines how modern technologies can be considered to maximize or streamline healthcare delivery.

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Blog Summary

This article begins by explaining how blockchain technology can be used in financial and business institutions to maximize performance. Kuo, Kim, and Ohno-Machado (2017) define “blockchain technology” as a process whereby different computers and databases are connected globally the streamline the way information is accessed or shared. Within the healthcare landscape, different parties can come together to automate, distribute, and transfer data across the globe. This approach will ensure that inter-organizational functions and processes are coordinated efficiently. The blogger outlines the major benefits of this kind of technology (Bathia, 2018). To begin with, the initiative is capable of reducing most of the errors reported by payer providers. This innovative idea will link providers, members, and payers together. This means that data will be updated remotely in order to reduce errors.

The second benefit is that this technology will ensure that any form of fraudulent activity is identified. The result is that numerous resources and funds will be protected. The initiative is also capable of improving the level of data security. This is the case because specific agencies and practitioners will only be allowed to access information or data (Bathia, 2018). In order to ensure that this kind of technology becomes a reality in the global sector, new policies, authorizations, and collaborative efforts will be needed.

This move will attract many patients, institutions, payers, and practitioners and eventually improve health care and service delivery across the globe. The article proposes several ways through which different organizations and practitioners can embrace the power of blockchain technology. These include middle, late, and early adoption stages or areas (Bathia, 2018). The proposal shows that the use of this innovative idea will minimize obstructions to data accessibility. The author concludes the blog by arguing that this novelty will transform the efficiency of a wide range of healthcare delivery processes.

Analysis

This article presents meaningful and evidence-based information that has the potential to transform the quality of medical services available to many patients and underserved populations across the globe. Although the author is not a medical expert or doctor, what stands out is that the presented information is meaningful and capable of supporting the needs of payers, practitioners, patients, insurers, and medical institutions. The ideas echo most of the concepts that support the use of emerging technologies such as “meaningful use” (Kuo et al., 2017). The desire to implement new systems and healthcare solutions is something that can minimize most of the obstacles disorienting the global medical sector.

Blockchain technology, as predicted by the author of the blog, has the potential to address most of the barriers encountered whenever accessing medical data. This gap has continued to make it impossible for many people to receive quality services (Kuo et al., 2017). Challenges such as unauthorized data admission or access by third-party users, increased errors, and delayed services have informed this new technology. As suggested in the blog, blockchain technology is capable of improving the effectiveness of different processes within the health care sector (Engelhardt, 2017). This kind of transformation can improve the quality of medical care and services available to many individuals across the globe. The American government, for example, should consider this proposal in order to support the health needs of every citizen.

Engelhardt (2017) supports this argument by explaining why (and how) modern technological innovations can improve health care delivery. For instance, blockchain technology is capable of linking many stakeholders within the sector. This means that crucial or private data will be shared instantly. Practitioners and doctors will make timely decisions and improve their patients’ outcomes. Omissions or errors will also be minimized significantly (Wang & Alexander, 2015). The current concept of telemedicine stands a chance to benefit from block chain technology. This means that more professionals will share medical information, make accurate inferences, and propose evidence-based approaches for treating various conditions facing mankind such as hypertension, cardiovascular disease, stroke, diabetes, and cancer (Wang & Alexander, 2015). Towards the future, different stakeholders within the healthcare sector should come together, embrace modern technologies, and implement powerful systems to address most of the challenges facing different populations.

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Conclusion

This analysis has revealed that the healthcare industry can benefit a lot from the ideas and concepts presented by influential spokespersons who understand the major issues affecting many people. This means that different stakeholders can present their views and introduce new practices to improve the healthcare sector. This approach will ensure that more people in different corners of the world have access to high-quality, sustainable, reliable, and timely medical services.

References

Bathia, K. (2018, January 29). How blockchain technology could revolutionize the healthcare industry. Web.

Engelhardt, M. A. (2017). Hitching healthcare to the chain: An introduction to blockchain technology in the healthcare sector. Technology Innovation Management Review, 7(10), 22-34. Web.

Kuo, T., Kim, H., & Ohno-Machado, L. (2017). Blockchain distributed ledger technologies for biomedical and health care applications. Journal of the American Medical Informatics Association, 24(6), 1211-1220. Web.

Wang, L., & Alexander, C. A. (2015). Big data in medical applications and health care. Current Research in Medicine, 6(1), 1-8. Web.

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StudyCorgi. (2020, December 12). Blockchain Revolution in the Healthcare Industry. Retrieved from https://studycorgi.com/blockchain-revolution-in-the-healthcare-industry/

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"Blockchain Revolution in the Healthcare Industry." StudyCorgi, 12 Dec. 2020, studycorgi.com/blockchain-revolution-in-the-healthcare-industry/.

1. StudyCorgi. "Blockchain Revolution in the Healthcare Industry." December 12, 2020. https://studycorgi.com/blockchain-revolution-in-the-healthcare-industry/.


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StudyCorgi. "Blockchain Revolution in the Healthcare Industry." December 12, 2020. https://studycorgi.com/blockchain-revolution-in-the-healthcare-industry/.

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StudyCorgi. 2020. "Blockchain Revolution in the Healthcare Industry." December 12, 2020. https://studycorgi.com/blockchain-revolution-in-the-healthcare-industry/.

References

StudyCorgi. (2020) 'Blockchain Revolution in the Healthcare Industry'. 12 December.

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