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5 Blockchain Use Cases in Healthcare Technology
Blockchain technology can transform healthcare with greater data security and better patient services.
Blockchain technology, often associated with cryptocurrencies such as Bitcoin, has vast potential that goes far beyond financial spheres. Known primarily for its robust security features, blockchain is a digital ledger that records transactions across multiple computers in such a way that records cannot be retroactively changed. This makes it an ideal solution for industries that require high integrity in data management, such as healthcare.
Second Big vision researchThe global blockchain technology in the healthcare market is expected to reach $126 billion in 2030, up from $1.97 billion in 2022. By integrating blockchain into daily operations, the healthcare industry can potentially save billions of dollars a year in costs associated with data breaches, record keeping, counterfeiting and insurance fraud. Beyond the financial aspects, blockchain technology can also have a profound impact on how healthcare services are provided.
Now let’s explore five crucial applications of blockchain in healthcare.
1. Greater transparency of the supply chain
Counterfeit medicines represent a major global threat. According to the US National Crime Prevention Council, More than 10% of drugs in the global supply chain are counterfeit, with figures reaching 70% in some countries. This is especially alarming for patients who rely on these drugs to manage life-threatening conditions.
Blockchain technology can solve this problem timestamp and security of each transaction with the drug supply chain, making the data immutable, i.e. incapable of being modified or deleted. This ensures that every step, from production to delivery, is recorded and verifiable, significantly reducing the risk of counterfeit medicines entering the market.
2. Patient-centric electronic health record
Despite widespread adoption, healthcare systems still grapple with fragmented data silos when it comes to electronic health records (EHRs). These digital versions of paper patient records, which include comprehensive medical histories, diagnoses and treatments, often face issues of interoperability, the ability of different systems to exchange and use information effectively.
Blockchain offers a solution by creating a unified, decentralized and secure system for electronic health records which improves data interoperability. This system not only ensures that patient data is accessible to all authorized healthcare professionals, but also ensures the confidentiality of patient information. The blockchain system requires permissions for data access, which patients can control, thus improving data security against cyber threats.
3. Smart contracts for insurance processing
Fraudulent insurance claims represent a significant economic burden, and the FBI estimates that they constitute approximately 5-10% percent of total claimscosting non-health insurers in the United States more than $40 billion annually.
Blockchain can mitigate this problem smart contracts—self-executing contracts where the terms are written directly in the code. These contracts automatically execute agreements without human intervention when predefined conditions are met. Because they are registered on the blockchain, they allow authorized personnel easy access to contract details such as coverage and claims procedures. This can improve transparency and reduce potential disputes and the likelihood of fraud.
4. Medical staff credentials
Blockchain provides a secure and streamlined way to manage and verify healthcare provider credentials. Each credential can be verified and recorded on the blockchain, making it easily accessible and immutable. This speeds up the hiring process, reduces administrative burdens and discourages credential fraud. For hospitals and clinics, this translates into better regulatory compliance and ensuring qualified care.
5. IoT security for remote patient monitoring
IoT devices powered by progress in 5G AND perimeter calculation—a model that brings data storage and computation closer to the source of the data—are increasingly integrated into our lives. By 2026, approximately 7.4 million Internet of Medical Things (IoMT) devices.such as heart rate monitors and wearable fitness trackers, should be in use.
Security, however, remains a key challenge for IoMT devices, particularly regarding the privacy, integrity and protection against falsification of patient data. In scenarios like Distributed Denial of Service (DDoS) attacks.—a type of cyber attack that disrupts service availability: The need for a robust system for each IoMT device is critical.
Blockchain provides a secure platform where data from these devices can be securely stored and shared among authorized healthcare providers. It ensures that data is not only secure but also accessible in real time, which is critical for monitoring patients with chronic conditions or in remote areas.
Conclusion
The adoption of blockchain in the healthcare industry promises numerous improvements, from ensuring the authenticity of medications and improving data security to simplifying insurance claims and improving remote patient monitoring. While challenges such as implementation barriers and regulatory issues persist, the transformative potential of blockchain is undeniable.
As the technology evolves and more applications are validated, blockchain is poised to become a cornerstone in addressing some of healthcare’s most enduring challenges related to data security, privacy and operational efficiency.
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