One problem faced by most of the health institutions is the burden and cost of data reconciliation for the medical history of patients . efficiency and quality of diagnosis dependent on the medical information of the patients . seamless access to this medical information would advantage the quality of diagnosis.
Block chain –based medical records enable patients to securely access and transport their medical records among different providers. Bloc chain –enabled health IT systems can provide technological solution to many challenges like health data interoperability , integrity and security and portable user-owned data. The system will give the patient complete ownership of their medical data, history and control of access. Most fundamentally , block chain could enable data exchange systems that are cryptographically secured and irrevocable. Patients will have the freedom to grant access as needed to medical professional , pharmacies, labs etc. the entire “chain of control” will be managed by patients and their public key and thereby providing access to specific records, to specific providers, for specific periods of time is made seamless.
This would enable seamless access to historic and real-time patient data while eliminating the burden and cost of data reconciliation. This solution can keep an immutable and hack proof storage of all the medical data of the patient so that important information is never lost and is easily accessible as well as shareable to concerned doctor or pharmacy in a matter of seconds.
Fraudulent billing is an ongoing issue facing healthcare today. An estimated 5-10% of health care costs are fraudulent resulting from over billing or billing for unused services. A block chain based fraudulent-free solution will empower customer’s trust in provider and management.
The block chain-based fraudulent-free system can provide realistic solutions for minimizing medical billing-related frauds. solution implementation can help combat fraud claims through new approaches to identity management and by creating verifiable and immutable records that confirm a patient’s unique identity .moreover , by automating payments process and claim adjudication the solution can help to eliminate the need for intermediaries and reduce the administrative cost and processing time for providers and payers. This could also improve logistical information tracking hurdles of reliability of reliability-centered maintenance (RCM) functions.
Fraudulent billing is an ongoing issue facing healthcare today. One of the important fraudulent case is drugs diversion, the illegal use of legal drugs , cost health care payers in excess of $72 billion annual in direct drugs related costs and lager hidden costs of treating the additions it supports.
Fraudulent-free claims solution will require patient to be identified with its unique identify management , and for transaction to take place via the “trust element.” What this means is that the patient , provider, pharmacist, and payer will engage in a secure and fully recorded ledger transaction. Each transaction is encrypted to help assure that unauthorized access cannot compromise patient privacy. Theoretically , the result will be eliminating fraudulent transaction in a secure environment . this eventually results in lowered health care costs due to increased efficiency
It is estimated that 50% of clinical trials go unreported, and investigators often fail to share study results. This creates knowledge gaps for healthcare stakeholders and health policy makers.
Block chain-enabled clinical trials management solution creates time-stamped immutable records of clinical trials, protocols, and results. Block chain-enabled trial management can provided technological solutions to many challenges like health data interoperability, integrity , this address the issue of outcome switching, data snooping and selective reporting. This solution thereby helps in reducing the incidence of error and fraud in clinical trial records. Further, block chain-based system could help drive unprecedented collaboration between participants and researchers around innovation in medical research in fields like precision medicine and population health management. This solution can keep an immutable and back proof storage of all the medical trials data of the patient so that important information is never lost and is easily accessible as well as shareable to the concerned doctors, researcher or pharmacy in a matter of seconds.
According to the protenus Breach barometer report, there was a total of 450 health data breaches in 2016, affecting over 27 million patients. About 43% of these breaches were insider-caused and 27% due to hacking and ransom ware.
Block chain based healthcare loT records and store health records securely in a ledger on which all participants such as health professionals, patients, insure can rely. All the information from different connected devices and networks is securely stored in the hack-free immutable network . doctors, surgeons , pharmacists and other medical professionals all have instant access to an agreed set of data about a patient. This means better data for better care in acute life-threatening situations, and for the treatment of chronic longer –term conditions. A ledger of secure, validated has the potential to be shared, subject to script privacy limitations, with insures and stage agencies to facilitate fast and efficient transactions across government and with the private sector
With the current growth of connected health devices, it will be very challenging for existing health IT in fracture and architecture to support the evolving internet of medical thing (loMT) ecosystems. Blockchain-enable solution have the potential to bridge the gaps of device data interoperability while ensuring security, privacy and reliability around loMT use cases.
Early detection of pandemics and influenza can help health organizations and hospital groups to prepared for facing it by updating the medicines inventory and resources management . however, early detection if often not effective due to the unavailability of a shared information source which can be used for analytics for early detection of pandemics.
A shared , immutable stream of de-identified patient information could more reality identify pandemics, independent of governmental bodies who are currently aggregating this data . block chain based health monitoring solution enables the hospitals and health institution to use or integrate with clinical trials software to upload the de-identified patient information to be a secure network, the immutable network records each trials and with the help of analytics engine, the system is able to do early detection of any epidemics and influenza.
Healthcare is packed with tens of hundreds of intermediaries or middleman who profit from the inefficiencies in credentialing , employment, requirement, privileging, and on-boarding. Verifying credentials, hiring , and privileging healthcare professionals are getting complicated each day as healthcare professional attend multiple educational institutions and training programs to keep up with licensing requirements. There is no options for a patient to know the experience and reputation of the doctor or nurse before consulation
Manual validation of records is complex , time consuming , and highly inefficient process. Consultancies use this opportunity to manually validate credentials, reference etc which in turn increase the healthcare costs. A realble solution which provides genuine information about the doctors or nurse, their past experience and qualification data would help in increasing the trust of patients.
One of the core characteristics of block chain technology is the elimination of the middleman or intermediary . block chain based middlemen –free solution can help hospital management to decrease the healthcare costs. The healthcare provider credential and reputation block chain would record and maintain the immutable and authentic record of a doctor, nurse, or other health care professional’s credentials and reputation, providing the industry with one open record of provides’ educational attainment , licensing , and professional reputation, thereby eliminating the need for middlemen
Block chain is getting popular each day and more people are getting hands on with cryptocurrencies like bitocoin, Ethereum etc. An easy to integrate ,easy to use cryptocurrency wallet would enable retailers to accept cryptocurrencies from their customers to do more sales.
A crypto currency wallet is a secure digital wallet used to store ,send and receive digital currency like bitcoin.there are several types of wallet that provide different ways to store and access digital currency .