Title : Block chain transformation in healthcare
The blockchain is positioned to be the next disruptive technology in health care. While the first blockchain technologies were in finance, there is a great deal of excitement over blockchain in health care about its multiple utilizations to improve patient care and hospital efficiency. This new decentralized and secure method of data sharing is still in the beginning phases of this cycle. A blockchain is an open record of all cryptographic transactions that have ever been executed. It is constantly growing as ‘completed’ blocks are added to it with another set of accounts. The blocks are added to the blockchain in a linear, sequential order. Every hub gets a duplicate of the blockchain, which gets downloaded consequently after joining the network. The blockchain has complete information about the addresses and their balances right from the beginning piece to the most as of late finished block. Blockchain operates as a shared ledger. It keeps track of each transaction performed, adding and appending each to form a chain of information on transaction, usage and distribution.
Potential benefits of blockchain are decentralized and shared control, Audit trail and exchanges. Some areas in healthcare where Blockchain can be used include securing Patient Identification Information, maintaining longitudinal patient history and securing Billing and Claims Sector. Strategically, with collaboration of the industry and the science we have the potential of bringing out the potential of block chains in healthcare.