Healthcare

A new era in healthcare: How blockchain is revolutionizing medical records

Understanding Blockchain

Blockchain originated as the brainchild of an individual or group under the name Satoshi Nakamoto in 2008. The technology was envisioned to facilitate cryptocurrency transactions that eliminate intermediaries such as online wallets, banks, etc.

Blockchain maintains interlinked blocks of records, called digital ledgers, which are distributed and decentralised. It is a system for recording and verifying transactions in a secure, transparent, and tamper-resistant manner. Some of its unique characteristics include these:

• Decentralisation: There is no single authority (like a bank or a government) to maintain a central ledger. Instead, a network of computers (nodes) have a copy each of the entire blockchain. This makes the system more resilient to failures and less susceptible to manipulation.
• Transparency: All participants in the network can view the transactions recorded on a blockchain, along with the history. This transparency is especially valuable for supply chain management and voting systems where trust is crucial.
• Immutability: Data recorded in a blockchain is permanent and unchangeable. This immutability enhances security by deterring fraudulent activities and unauthorised alterations. It is particularly useful in applications where data integrity and historical accuracy are critical, such as in legal contracts or medical records.
• Pseudonymity: Although transactions on a blockchain are transparent, they are untraceable to people since users are assigned cryptographic addresses or pseudonyms. This offers a degree of privacy.

As blockchain continues to evolve and mature, its applications have gone beyond cryptocurrencies, including supply chain management, voting systems, healthcare and more.

Blockchain for Healthcare

Medical records contain essential patient information, treatment histories, and sensitive personal data. They are a critical component of healthcare. Yet, inefficiencies, security challenges, and interoperability problems have beset conventional approaches to storing and exchanging medical information.

Blockchain presents a potential answer to these problems. Here is how:

• Enhanced security: The decentralised and cryptographic approach to record-keeping that blockchain employs makes data immutable. This means that once the data is added to the blockchain, it is extremely difficult to alter or tamper with. Each entry is linked to the previous one, creating a chain of blocks that makes unauthorised changes nearly impossible. This robust security feature is crucial in healthcare, where patient data integrity and confidentiality are paramount.
• Improved interoperability: Picture a scenario where physicians, labs, pharmacies, and billing departments operate in silos. It results in inefficiencies and errors in healthcare delivery. Interoperability is the solution to prevent such undesirable scenarios. It addresses key healthcare challenges, including meeting patient expectations, enhancing care quality, and reducing administrative burdens.

Blockchain can help address the two major stumbling blocks for interoperability, namely,

1. Patient identification: A universally accepted patient identifier remains elusive, resulting in discrepancies within patient records. As indicated by Shaun Grannis, Vice President of the Center for Biomedical Informatics, an alarming 20% of patient records exhibit inaccuracies, even within the same healthcare system, rising to 50% when data crosses systems. This issue leads to confusion, and errors, and impedes quality care.
2. Information blocking: Policies and practices that hinder data sharing are a significant problem. Hospitals may withhold data due to competitive concerns, preventing access to vital patient information and hindering collaborative care efforts.

Blockchain acts as a standardised platform for data sharing, allowing disparate healthcare systems to communicate and exchange data seamlessly. This reduces the motivation for blocking patient information as data becomes more accessible across various platforms.

• Patient ownership and control: With blockchain, patients have greater control over their medical records. They can grant permission for specific healthcare providers or researchers to access their data securely through smart contracts. This empowers patients to be more engaged in their care and enhances their privacy rights.
• Global health records: For frequent travellers who need healthcare in different countries, blockchain can provide a unified global health record that is accessible from anywhere. This can be invaluable in emergencies where immediate access to medical history is crucial.
• Research and development: Blockchain enables secure data sharing among researchers and institutions, facilitating collaborative research efforts. Researchers can access a broader pool of data while maintaining patient privacy, and accelerating medical discoveries and drug development.

While blockchain offers numerous benefits to healthcare, it is not without its challenges. Adoption and integration into existing healthcare systems, regulatory compliance, and data privacy concerns must all be carefully addressed. Additionally, the scalability of blockchain networks and the energy consumption associated with some blockchain platforms are ongoing issues to consider.

Unblocking quality care

Notwithstanding the challenges of blockchain, it is a transformative force in healthcare, revolutionising how medical records are managed and shared. By enhancing data security, transparency, and patient control, blockchain has the potential to eliminate longstanding challenges in healthcare, particularly those related to finding an equilibrium between safeguarding data and facilitating information exchange.

The healthcare industry stands on the cusp of a profound transformation that promises to improve patient care, streamline operations, and ultimately create a more efficient and patient-centric healthcare ecosystem.

The journey towards a blockchain-powered healthcare future is undoubtedly underway, and its full impact on the industry is yet to be realised, but the potential for positive change is both exciting and promising.

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