Three ways blockchain could revolutionize the healthcare sector
Every day it seems there are new and exciting breakthroughs related to healthcare, whether it’s the development of a new drug to cure a disease that effects millions, a new and safer way to administer a surgery, or research that has identified a new genetic disorder that was previously unknown. Despite these developments, advances in the systems and infrastructure behind healthcare don’t seem to be happening at the same rate.
Whether it’s needing one doctor to fax a requisition form to another doctor, having most hospitals manage their own data centre, relying on paper records, or having antiquated systems for filling prescriptions, there are certainly ways that healthcare infrastructure stands to benefit from the innovations of blockchain.
Patient Records
It’s no secret that methods for keeping and managing patient medical records are outdated and inefficient. Despite 96% of hospitals making the switch to electronic health records, providers still face many challenges related to outdated interfaces, usability issues, interoperability issues, and more.
Given the sensitivity of medical information, it’s no surprise that hospitals, physicians, and other medical providers are hesitant to make changes to electronic health records systems, and there are many factors that need to be considered, the most important of which is security.
That being said, it will not be easy to convince those in the health care sector to make the change to a blockchain-based electronic health records (EHR) system, but if they did, the benefits would be immense. A blockchain based EHR system would be highly auditable, with every transaction (i.e., access to a patients file, or adding information to a patients record) being easily traceable. Furthermore, the immutable nature of a blockchain EHR system would help prevent unauthorized changes to medical records, reducing the risk of records being accidentally deleted, or fraudulently manipulated. Additionally, a blockchain based EHR system would be highly efficient and low cost, and could make use of existing technologies to ensure interoperability. The benefits listed are only a few of many, but they demonstrate how blockchain could truly revolutionize patient records.
Prescription Drug Management
Many supply chains are already starting to make use of blockchain technologies to strengthen supply chains and make them more efficient. One example of this is the project I recently showcased by StaTwig, which hopes to utilize blockchain to improve the efficiency of food and vaccine supply chains.
A blockchain based system could be set up to monitor prescription drugs every step along the supply chain from production, to transportation, to disbursement to patients. The process can be automated to ensure data is collected and saved on the blockchain each step of the way for auditing purposes. This could include information such as batch numbers, quality control sign offs, timing and location of shipping, and time stamps for when the prescriptions are disbursed to patients.
With the U.S. facing an Opioid crisis, largely driven by overprescribing practices, this could really help hold prescribers accountable. With all data being stored on an immutable and easy to access blockchain, data could easily be analyzed, and concerning trends could be flagged to appropriate authorities.
Furthermore, it could also help with eliminating counterfeit drugs from the market, by ensuring greater checks and balances throughout the supply chain. Counterfeit drugs are a real problem, and in fact, the World Health Organization (WHO) has estimated that 10% of global pharmaceutical commerce, or $21 billion worth, involves counterfeit drugs. It’s crazy to think that you could go to your trusted, legitimately run pharmacy, to obtain your usual prescription refill, and actually receive counterfeit prescriptions, but this does happen. A more robust, auditable, and trustworthy supply chain could help address this challenge.
Epidemic and Disease Tracking
Last but not least, and maybe most-importantly, there is the potential for blockchain based systems to help track diseases and epidemics. As has become evident during the COVID-19 pandemic, accurate, real-time data is essential in tracking and responding to public health crises.
In a recent blog post, I highlighted the use case for blockchain when it comes to gathering and tracking data related to the Opioid epidemic. I gave the example of how blockchain-based technology could be used to track emergency medical incidents involving opioids. Real time data on a transparent and immutable blockchain could help public health agencies more quickly identify problematic upticks in opioid-related overdoses and deaths, which could potentially be related to new synthetic opioids, or “bad batches”. This could then be used to inform responses including the rapid deployment of harm reduction efforts, and public education initiatives in affected communities.
Beyond opioids, this technology could also be deployed during future pandemics, to ensure a singular source of data can be used internationally. Having access to real time and trustworthy data on an immutable blockchain, could allow medical authorities like the WHO to more quickly identify and respond to outbreaks of future pandemics and deploy necessary supports.
The healthcare system is infamously known for being highly change resistant when it comes to processes, systems, and the logistics behind them. That being said, implementing blockchain-based systems for healthcare management will not be a walk in the park. However, the use case is clearly there, and blockchain technology could revolutionize the health care sector by playing an instrumental role in implementing systems that are more efficient, reliable, auditable, and secure.
What do you think about the potential for Blockchain to revolutionize healthcare? Tweet us at @Crypto_Altruism, we’d love to hear from you!
