Concise Software 5 key blockchain in healthcare use cases

5 key blockchain in healthcare use cases

Why is there so much hype around blockchain in healthcare? Because it promises to bring significant savings. The report predicts that by 2025, the adoption of blockchain could lead to savings of up to $100-$150 billion per year in IT, operations, and data breach-related costs.

A recent survey revealed that 40% of healthcare executives see blockchain as one of the five priorities. According to a report by BIS Research, the global healthcare market investment in the technology will reach $5.61 billion by 2025. 

Blockchain holds a great promise to the healthcare industry that aims to create intersections between fragmented systems to generate valuable insights and improve the assessment of services. Professionals in this field imagination nationwide blockchain networks for storing electronic medical records that would support the healthcare system in delivering better care to patients.

But that’s just the tip of the iceberg. Here are 5 essential use cases for blockchain in healthcare:

1. Patient data storage and management

Given the character of the blockchain technology, no wonder that one of the most popular healthcare use cases is patient data management. Health agencies usually keep medical records siloed. Learning more about a patient’s medical history is impossible without reaching out to their previous care provider. And that process may take some time, often resulting in mistakes that result from human error. 

Blockchain development promises to change that. A good example is MedRec, a system that offers a transparent view into a patient’s medical history, developed on the Ethereum blockchain. The idea behind MedRec is that it can be used to store all the patient’s medical information in one place, making it simpler to access by both doctors and patients themselves. 

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2. Preventing prescription drug abuse

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