How blockchain technology can improve Nigeria’s healthcare system

The healthcare sector faces a number of challenges that include rising costs, increasing demand for personal care and inefficient data management and sharing systems. These problems were recently exacerbated by the global pandemic, which highlighted the need for innovative solutions to improve the quality and accessibility of healthcare.

In developing countries like Nigeria, people struggle to access good health services. In fact, in some developing countries, their citizens are forced to fly abroad to other developed economies to receive better healthcare, albeit at astronomical costs.

Originally developed to combat the current monetary standard, blockchain technology has the potential to address some of the challenges facing the healthcare sector in both developing and developed countries. It is important to remember that Blockchain is a decentralized and secure ledger system that enables transparent and manipulation-proof data processing.

It provides a number of benefits, such as increased data security, improved interoperability and improved data sharing opportunities, from which the healthcare sector can greatly benefit.

Highlighted below are some of the specific ways blockchain technology can be used to improve healthcare in Nigeria.

Efficient data management: One of the most important advantages of blockchain technology is its ability to provide secure and efficient data processing. The healthcare sector generates huge amounts of sensitive data, and traditional data processing systems have struggled to keep up with the demand for secure and efficient storage and sharing.

Blockchain technology can provide a secure and decentralized platform for storing and sharing patient data, which can improve patient privacy and data security while ensuring accessibility and interoperability. This is actually already in use. MedRec, a blockchain-based medical information management system created by MIT researchers, is being implemented and has significantly improved the processing of medical record data.

Improvement in clinical trials: Blockchain can revolutionize the way clinical trials are conducted by providing a more transparent and secure system for tracking patient data and ensuring compliance with regulatory requirements. It can also help reduce the time and costs associated with drug development and supply chain management by providing an immutable and tamper-proof overview of all steps in the process. 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: Traceability of medicines is a crucial aspect of the healthcare sector, as it ensures patient safety and prevents the circulation of counterfeit medicines. The current drug supply chain is complex and fragmented, making it difficult to track the movement of drugs from manufacturers to patients. However, blockchain technology can provide a solution to this problem by providing a secure and transparent system to track the movement of pharmaceuticals throughout the supply chain.

Blockchain technology can be used to create a digital ledger that tracks every step in the drug supply chain. Every transaction or movement of the substance will be recorded on the blockchain, creating a permanent and tamper-proof record of the substance’s journey. Blockchain’s decentralized nature ensures that this record cannot be manipulated, providing a high level of transparency and trust.

Furthermore, blockchain can be used to store additional information about the substance, such as batch number, expiry date and manufacturer information. This information can be accessed by authorized parties at all stages of the supply chain, to ensure that medicines are authentic and have not expired.

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.

An example of VeChain’s use in the pharmaceutical industry is with the Chinese pharmaceutical company Shanghai HuaZheng. Shanghai HuaZheng partnered with VeChain to develop a traceability platform for their medicines.

The platform uses VeChain’s blockchain technology to record the entire life cycle of the drug, from production to distribution to the end consumer. The platform also uses smart contract technology to automate processes such as quality control and compliance.

VeChain has also been adopted by Australian pharmaceutical company Blackmores. Blackmores uses VeChain’s blockchain platform to track the origin and authenticity of its products. The platform provides consumers with a QR code that they can scan to access information about the product’s ingredients, manufacturing process and supply chain.

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.

Health insurance: Blockchain technology can potentially improve health insurance by providing a secure and transparent platform for managing claims, reducing costs and improving patient privacy. By leveraging blockchain technology, health insurance providers can store and share patient data in a secure and decentralized system that is transparent to authorized parties.

This can help reduce the risk of data breaches and fraud, and ensure that patient data is kept private and secure.

Furthermore, blockchain technology can streamline the claims process by automating tasks such as claim processing and verification. Smart contract technology can be used to automate the verification of claims, ensure they meet necessary requirements and reduce the time and costs associated with manually processing multiple claims.

Hhealth insurance companies have begun to adopt blockchain technology in recent years. An example is Aetna, a US-based health insurance company. Aetna uses blockchain technology to simplify and secure the payment process for its customers. The company has partnered with a blockchain startup called Hashed Health to develop a platform that allows customers to view and pay their bills in a more transparent and efficient way.

Conclusion: Overall, the potential applications of blockchain technology in healthcare are large and varied, and its implementation can lead to significant improvements in the quality and availability of healthcare services. As such, it is important for healthcare professionals and policy makers to explore and embrace the potential of blockchain technology in the healthcare sector.