5 Real-Life Examples of Blockchain Use Cases in Healthcare
Blockchain technology has been increasingly adopted in various industries, including healthcare. It has the potential to improve the efficiency and security of data sharing, patient privacy, and overall patient care. Here are five real-life examples of how blockchain technology is being used in healthcare:
1. Medical Records Management
One of the most significant challenges in healthcare is the management of medical records. Blockchain technology can provide a secure and efficient platform for storing and sharing medical records. MedicalChain, for example, is a UK-based startup that leverages blockchain technology to store patient medical records securely and enables easy sharing of medical data between physicians and patients.
2. Drug Traceability and Authentication
Counterfeit drugs are a major problem globally, and blockchain technology can provide a solution to this issue by enabling easy tracking and tracing of drugs. In 2019, Boehringer Ingelheim, a German pharmaceutical company, partnered with blockchain-based healthtech startup, Solve.Care, to develop a pilot program to track the supply chain of drugs, ensuring patient safety and reducing the risk of counterfeit drugs.
3. Clinical Trials and Research
Blockchain technology can also improve the transparency and accuracy of clinical trials and research by providing a secure, decentralized platform for data collection. EncrypGen, a blockchain-based genomic data platform, has created a marketplace where patients can sell their genomic data to researchers securely, and get compensation for their participation in clinical trials.
4. Supply Chain Management
Supply chain management is another area where blockchain technology can make a significant impact in healthcare. The incorporation of blockchain technology in the supply chain can increase transparency, accountability, and traceability. TraceRX is a blockchain-based platform that adds a unique identifier to each medication package, enabling easy tracking from the point of origin to the final consumer – this helps to minimize the risk of counterfeit medications and ensure the authenticity of drugs.
5. Health Insurance
Blockchain technology can help in streamlining the health insurance process, reducing fraud, and increasing transparency. Oscar Health, a US-based health insurance exchange, is using blockchain technology to automate insurance claims and enhance transparency in the claims process.
Conclusion
Blockchain technology has enormous potential in the healthcare sector, as it can help improve the efficiency, security, and transparency of various processes. These five real-life examples illustrate how blockchain technology is being used effectively to address different challenges in healthcare in innovative ways. As adoption of blockchain technology in healthcare continues to grow, we can expect to see more innovative use cases that disrupt conventional practices.
