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Healthcare

Why Blockchain for Healthcare?

As healthcare providers become more and more data-driven, they need a way to ensure data accuracy, security and privacy.
The blockchain offers the following opportunities in healthcare:
 

  • Enable data immutability to increase trust for all parties in the healthcare supply chain
  • Ensure drug safety and authenticity from the hospital to the pharmacy through blockchain-based supply chain optimization
  • Improve data and consent management through increased transparency and security on blockchain’s distributed ledger system 

How Blockchain Works in Healthcare

The blockchain can connect any number of entities on a single, shared, immutable ledger, replacing disparate systems and improving security, traceability and efficiency.

Use Case 1: Federated Provider Data Management

Now

Comprehensive data on different providers is not accessible through the same database, requiring specialists to request and receive data separately from each party. This causes difficulty in finding the right provider, claims processing delays and higher administrative costs.

With Blockchain

All parties store and access data on a blockchain-based distributed permissioned ledger providing real-time visibility, improved data quality and reduced costs. The blockchain creates a hash of digital identity to track who’s accessing what data and create a secure, confidential audit trail.

Use Case 2: Coordination of Benefits

Now

Members lack transparency into the coordination of benefits (COB) between primary and coinsurance providers. Shared accumulators are complex and difficult to track for healthcare organizations, causing incorrect insurance copays for patients that result in potential denials and penalties.

With Blockchain

Disparate adjudication engines are replaced with a trusted, real-time and immutable blockchain-based solution that connects all shared accumulators and makes the right benefits data accessible to the right party at the right time.

Use Case 3: Patient Consent Management

Now

Patients have a right to decide which health records are shared between parties, but this information, when recorded, is often siloed bidirectionally between the patient and just one other party (e.g. the hospital). Consent information is not available in a timely, verifiable manner for patients, providers and third parties like the FDA, IRB, etc.

With Blockchain

Patient consent forms are digitized, and information is stored on the blockchain in an encrypted system which provides trust, security and permissioned access. This creates an environment where patient consent information on which health records to share and interests (e.g. relevant clinical trials) is easily accessible to appropriate parties.

Have a Use Case Not Mentioned Above?

If the blockchain use case you had in mind isn’t listed here, please let us know and we’ll explore its potential for your enterprise with you!

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