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Blockchain science: Aiding to healthcare ecosystem

Blockchain enabling more secure and transparent monitoring of medical record transactions, which are vital to the improvement of health in communities worldwide.

Healthcare ecosystem always starve for interoperability to prevent data breaching, as it is very important to keep the medical records secure. With this comes a need to increase the probability of accurate diagnoses, more efficacious treatments, and the overall raise in the potential of healthcare organizations. Risk factor increased with the scaling of the medical data day by day, to which there is no bar.

Blockchain technology has the unrealized capability of better data sharing among healthcare providers and to unlock the true value of interoperability for any healthcare ecosystem. The technology promises to provide widespread implications for healthcare stakeholders. Capitalizing on this technology has the potential to connect fragmented healthcare system and generate insights to better access the value of care.

Interoperability - consistent data sharing

Interoperability is the first point that bubbles up in our mind while thinking or getting information about Blockchain. But trust me, it’s much more than this. This technology provides with the healthcare data systems that are irreversible and cryptographically secured. Resulting into seamless access to real time patient data and secure reconciliation of healthcare data without burdening the pockets.

Time efficient, transparent billing management

As per a recent study in U.S., medicare fraud caused around $30 million in losses in 2016. Data has come up stating, 5-10% of healthcare billing costs are fraud even in this digital world billing from undone medical services.
All thanks to blockchain applications and systems, which made it possible to provide realistic solutions to decrease these kinds of frauds, with the automating bill processing activities. As blocks are process every few minutes and done by miners at a fraction of the costs blockchain also provides with faster transactions.

Drug counterfeiting & traceability

A system where authentic drugs are replaced with fake ones, resulting into increase in the profit margins of dealers with decrease in the actual effect of drugs on patients in termed as drug counterfeiting. Blockchain is proves to be one of the best practice that can be implemented by a drug company for selling the drugs and can be assured when it comes to delivery of the right drugs to the right person.
According to blockchain system, manufacturer can start the transaction with hash (which is unique for everytime) followed by verification by the wholesaler, pharmacists, and the patient. Information is kept in a ledger which is completely secure and cannot be altered by anyone else.

Blockchain Solutions Benefiting Healthcare Industry by Vinfotech

Essence of innovation in traditional healthcare practices

According to a recent statement by futurist Don Tapscotte, internet is entering into second era with blockchain, so as healthcare practices as well. Potential qualities of blockchain brings innovation in preventive care and coordinated healthcare systems. Power of ledger technology for ensuring data interoperability while sharing information inside the channel supports the rising trends in healthcare.

Scaling blockchain for healthcare ecosystem

The healthcare ecosystem is on the verge of disarrangement in its digital infrastructure. Current system does not fully support the security or interoperability perhaps being the most important factor for all the medical records. To utilize collected medical data to its maximum potential, data security and interoperability of records between systems is a must, to utilize the stored data to maximum potential.

Recent study of facts and cases, along with future stats review, blockchain has emerged to be one of the big changemaker technology. Undoubtedly blockchain is providing constant boost to healthcare ecosystem in terms of interoperability, integrity and security, and portable user-owned data. Vinfotech expect to serve with the best innovation in healthcare utilizing the potential of blockchain technology. Contact us to hit the hard nut and take your medical practice to upper level.

IN A NUTSHELL
  • Frictionless connectivity
  • Diverse access to all electronic health data
  • Minimal fraudulent activities
  • In-built fault tolerance and data encryption
  • Verifiable identity and authentication of all participants

About Vinfotech

Whether you are looking out to build a chatbot on top of your telehealth app as a smart symptom tracker, or take charge of improving overall healthcare experience of your hospital by connecting your staff, doctors and patients over a gamified online community integrated with various fitness wearables and medical devices, turn to Vinfotech.

Vinfotech is design-led healthcare ecosystem software provider for governments, healthcare organizations, care providers, medical ISVs, device manufacturers and software product companies with following expertise:
/ Healthcare online communities (for patients, hospitals & donors)
/ Telehealth
/ E-prescription
/ EMR
/ Coordinated care solutions
/ Chatbot, medical device and wearable integration
/ Any custom web/ mobile app

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