Patient data security and pharmaceutical supply chain management are just two examples of how blockchain is being put to use in the healthcare industry.
As high hospital expenses, ineffective methods, and continual data breaches continue to plague the sector, this development couldn't come at a better moment. In 2021, the United States spent about 20% of its GDP on healthcare. These high-priced issues are motivating efforts to improve efficiency and creativity.
Using blockchain in healthcare has the potential to alleviate some of the suffering by helping to deflate the present expenditure bubble, preserve patient data, and enhance the overall healthcare experience. In addition to encrypting medical information, this technology is also being utilized to control the spread of dangerous infections.
With these 17 applications of blockchain technology, the healthcare system is becoming more streamlined, benefiting both patients and medical staff.
Blockchain and the Safety of Medical Records
It is not unexpected that the primary use case for blockchain technology in healthcare is the protection of sensitive patient information. The healthcare sector has significant security challenges. Between July 2021 and June 2022, there were 692 major healthcare data breaches recorded. The criminals made off with financial and medical documents, including data from genomic studies.
Blockchain is ideally suited for security applications due to its capacity to maintain an immutable, distributed, and transparent log of all patient data. While blockchain is open and accessible to anyone, it is also private, protecting sensitive medical information by hiding user identities behind multiple layers of encryption. The distributed design of the system also facilitates secure and efficient information sharing between patients, their doctors, and other healthcare professionals.
Learn more about how blockchain is being used to improve healthcare security at these four companies.
1. Suffescom Solutions Inc. - Blockchain Healthcare Development Company USA
Location: Wilmington United States
Using its 9+ years of IT experience and 250+ specialists on staff, Suffescom Solutions Inc is a leading provider of comprehensive blockchain services. Blockchain solutions designed and developed by this firm are trusted, fast, transparent, and financially rewarding. Expertise in every major blockchain platform and application is available from Suffescom Solutions Inc. The company stands by the quality of its blockchain development services, the safety of its clients' information, and the experience of its management team. Morgan Elliott, PC Doctor, Unimilk, indsey Reishman Real Estate, Accurate DNA, and Samsung are just a few of the companies who have partnered with them on this venture.
2. RisingMax Inc.
Location: New York, USA
When it comes to developing cutting-edge blockchain applications for large businesses, RisingMax Inc stands head and shoulders above the competition. Experts there create new software and services for commercial and private clients. By adopting blockchain solutions developed for their specific requirements, RisingMax Inc helps organizations cut costs, boost security, and streamline processes. As a pioneer in the blockchain revolution, RisingMax Inc. has won the confidence of Fortune 500 and other clients from a wide range of industries. Its staff are well-versed in providing a variety of blockchain solutions, including business consulting, the creation of cryptocurrency exchanges, and the creation of industry-specific software. In addition, it has a perfect score of five stars on the clutch, proving that users consider it to be among the best blockchain technology providers available.
3. Best Web3 Development
Location: California, US
In its short 7 years in business, Best Web3 Development has established itself as the go-to provider of blockchain development services for dfdfenterprises of all sizes, having delivered digital solutions and participated in 400+ blockchain projects to date. It boasts a long list of satisfied clients in industries as diverse as real estate, education, e-learning, travel, logistics, tourism, and the Fortune 500. Best Web3 Development is a leading blockchain development firm that has more than 9 years of expertise creating immersive applications and can get any project off the ground and running. Best Web3 Development's blockchain developers create reliable, bug-free software and add in a number of useful extras to make it suitable for corporate use.
4. AKIRI
Location: Foster City, California.
To ensure the safety of patient health data during travel, Akiri runs a network-as-a-service that is tailored to the needs of the healthcare sector. There is no data storage in the Akiri system. It functions as both a network and a protocol, allowing for the establishment of policies and the configuration of data layers, as well as the real-time verification of both data sources and destinations.
Akiri makes sure sensitive medical information can only be accessed by those who need it, and only at that time.
5. BURSTIQ
Location: Denver, Colorado
The BurstIQ platform provides a safe and secure way for healthcare providers to handle large amounts of patient data. Its blockchain technology allows for HIPAA-compliant data storage, licensing, and sharing or sale.
BurstIQ's platform may aid in the fight against opioid and prescription drug misuse because it has comprehensive and current data on individuals' health and healthcare activity.
6. MEDICALCHAIN
Location: London, England
The blockchain technology used by Medicalchain guarantees that patient information is accurate and secure. A patient's identity is kept confidential while their medical records are requested by doctors, hospitals, and labs.
7. GUARDTIME
Location: Lausanne, Switzerland
Guardtime facilitates the use of blockchain technology in healthcare and government cybersecurity. The firm was instrumental in bringing blockchain to Estonia's healthcare institutions, and it just inked a partnership with a private healthcare provider in the United Arab Emirates to use the technology there as well.
8. AVANEER HEALTH
Location: Chicago, Illinois
Avaneer is a healthcare efficiency startup sponsored by industry heavyweights including Aetna, Anthem, Cleveland Clinic, and others. Avaneer utilizes a public ledger to facilitate improved claims processing, safe healthcare data exchanges, and up-to-date provider directories.
9. PROCREDEX
Location: Tampa, Florida
ProCredEx has developed a healthcare credentials distributed ledger that improves the efficiency of complicated datasets by making the data irreversible and forever traceable. It enables data to be curated to meet specific business needs and then shared with approved third parties.
So that health systems may quickly acquire verified credentials and increase patient safety and care quality, the platform uses proprietary validation engines and restricts memberships to vetted and certified institutions.
10. CORAL HEALTH
Location: New York, New York
Care delivery at Coral Health is sped up, administrative tasks are automated, and patient outcomes are enhanced thanks to the usage of blockchain technology. The startup streamlines communication between medical professionals, researchers, lab workers, and government health officials by incorporating patient data into distributed ledger technology. Coral Health also uses smart contracts between patients and doctors to verify information and guarantee proper care.
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