Remodeling the Healthcare Industry by employing Blockchain Technology
Bhavya Shah, Niket Mayank Shah, Shruti Shakhla, Vinaya Sawant · 2018
The Healthcare sector throughout the world generates a copious amount of data every day in the form of clinical trials, patient medical records, medical research and more. This massive amount of data is neither standardized nor organized, thereby making it burdensome to access the appropriate and relevant information when needed. Developing an efficient, interoperable and highly secure blockchain network to store and manage Electronic Health Records (EHR) of all patients would enable seamless access to historic and real-time patient data while eliminating the burden and cost of data reconciliation. Owing to its key properties of immutability, decentralization, and transparency, a blockchain network provides a highly secure platform for access to data and transactions. These advantages can be extended to medical research institutes and health insurance companies.