9 promising blockchain use cases in the healthcare sector
The use of blockchain technology in healthcare has the potential to revolutionize the way medical records are managed, medical research is conducted and patient care is delivered. Here are nine promising use cases for blockchain in healthcare.
Journal management
Medical records can be securely stored and managed using blockchain, improving accessibility for patients and healthcare professionals. Patients’ ability to control access to their medical records increases security and privacy. One example is MedRec, a blockchain-based system for managing medical information created by MIT researchers.
Clinical studies
By providing a transparent and immutable trial data record, blockchain can increase the transparency and integrity of clinical trials. The CTRR platform (Clinical Trials Reporting and Results) is one example of a platform that uses blockchain to store data from clinical trials.
The CTRR platform is a blockchain-based platform developed by the pharmaceutical company Pfizer in collaboration with other companies, including IBM. The use of blockchain makes it easier for researchers and regulators to access and verify trial data, improving the quality and reliability of clinical trial results.
Traceability of prescription drugs
Blockchain technology can track prescription drugs from the point of manufacture to the end customer, reducing the chance of counterfeit drugs entering the supply chain. One example is a blockchain-based network called MediLedger, which tracks the flow of prescription drugs.
Supply chain management
Adoption of blockchain can increase the efficiency and transparency of supply chain management in the healthcare sector, making it easier to follow the flow of medical supplies and equipment. A blockchain-based supply chain management system used in the pharmaceutical industry is VeChain, for example.
Handling of medical equipment
Blockchain technology can securely manage medical device data, including usage statistics and maintenance logs, improving patient safety and reducing the likelihood of errors. For example, Chronicled is a platform for managing medical devices based on the blockchain.
Telemedicine
Telemedicine data, including video consultations and electronic prescriptions, can be securely stored and shared via blockchain, improving patient access to care. An example of this use case is the blockchain-based telemedicine platform Solve.Care.
Solve.Care has also established specialized Web3 courses for South Koreans in collaboration with Inha University. Upon completion of the program, students will have the skills to redesign, redefine and improve next-generation Web3 digital health networks. Teaching starts in March 2023.
Drug development
With blockchain, drug development can become more transparent and efficient, allowing researchers to share information and work together more successfully. The Clinical Research Blockchain platform is one example of a blockchain-based system for storing and exchanging clinical research data.
Personalized medicine
Genomic data can be stored and shared securely using blockchain, enabling more individualized and effective medical treatments. Shivom, a platform for the exchange and interpretation of genetic data, is an example.
Health insurance
Blockchain can be used to process health insurance claims to increase transparency, efficiency and speed while reducing fraud. For example, MetLife is using blockchain to streamline the life insurance claims process, reduce the time required to process claims and improve the overall customer experience.
The way forward
Blockchain can completely change the healthcare industry from medical record management to drug discovery and health insurance. Although these use cases are still in the early stages of research, they have the potential to increase efficiency in healthcare and improve patient outcomes.
Related: What is Blockchain Interoperability: A Beginner’s Guide to Cross-Chain Technology
However, before blockchain can be widely used in healthcare, many issues still need to be resolved, including standardization, regulatory and legal hurdles, and interoperability with current systems.
