How Blockchains Will Transform Healthcare

In 2020, we have entered both a new decade and new phase of using technology to transform industries. For professionals everywhere, managing data effectively is an imperative priority both to cultivate organizational efficiency and to maintain cutting edge status in a rapidly changing world. The emphasis on privacy is of equal importance, with this acknowledged now as a global priority with a PwC Election 2020 Poll from November 2020 reporting that, “52% of tech, media, and telecom respondents rank data privacy among top 3 policies most impactful to their business.” What Does Blockchain Mean For Healthcare? The health industry, inclusive of medical practices and hospitals, is considered an untapped frontier for using new technologies in data management. The benefits of blockchain in health data management are both qualitative and quantitative. On an efficiency level, introducing blockchain streamlines medical records and integrates vast existing patient systems via secure synced databases. It also offers an opportunity to revolutionize the mitigation measures against medical fraud and abuse of drug prescriptions. Further to this, on a market level alone, academics reported in the 2020 journal article, Blockchain in healthcare and health sciences, “the blockchain technology market is expected to cross $500 million by 2022.” Where To From Here For Blockchain In Healthcare? Put simply, the impact of blockchains in the health industry will be significant in all areas. The next steps for widespread blockchain implementation will be based around: Privacy legislation Stringent industry policies to ensure consistency of best practice for sensitive data management Cooperation amongst health bodies and organisations to integrate processes and secure data This infographic, ‘How Blockchains Will Transform Healthcare’, from Study Medicine Europe is a great starting point to learn more about how blockchains will impact, shape and benefit the healthcare industry. With a context-specific explainer and analysis on the associated privacy risks, the graphic can assist you with understanding this new technology. Read on to find out more about this cohesive solution to medical data management. The post How Blockchains Will Transform Healthcare appeared first on Blockchain News | Blockchain Structure | Blockchain Technology.

How Blockchains Will Transform Healthcare
In 2020, we have entered both a new decade and new phase of using technology to transform industries. For professionals everywhere, managing data effectively is an imperative priority both to cultivate organizational efficiency and to maintain cutting edge status in a rapidly changing world. The emphasis on privacy is of equal importance, with this acknowledged now as a global priority with a PwC Election 2020 Poll from November 2020 reporting that, “52% of tech, media, and telecom respondents rank data privacy among top 3 policies most impactful to their business.” What Does Blockchain Mean For Healthcare? The health industry, inclusive of medical practices and hospitals, is considered an untapped frontier for using new technologies in data management. The benefits of blockchain in health data management are both qualitative and quantitative. On an efficiency level, introducing blockchain streamlines medical records and integrates vast existing patient systems via secure synced databases. It also offers an opportunity to revolutionize the mitigation measures against medical fraud and abuse of drug prescriptions. Further to this, on a market level alone, academics reported in the 2020 journal article, Blockchain in healthcare and health sciences, “the blockchain technology market is expected to cross $500 million by 2022.” Where To From Here For Blockchain In Healthcare? Put simply, the impact of blockchains in the health industry will be significant in all areas. The next steps for widespread blockchain implementation will be based around: Privacy legislation Stringent industry policies to ensure consistency of best practice for sensitive data management Cooperation amongst health bodies and organisations to integrate processes and secure data This infographic, ‘How Blockchains Will Transform Healthcare’, from Study Medicine Europe is a great starting point to learn more about how blockchains will impact, shape and benefit the healthcare industry. With a context-specific explainer and analysis on the associated privacy risks, the graphic can assist you with understanding this new technology. Read on to find out more about this cohesive solution to medical data management. The post How Blockchains Will Transform Healthcare appeared first on Blockchain News | Blockchain Structure | Blockchain Technology.