Blockchain technology has made its mark on several industries such as banking, AI, IoT, and education. But perhaps the industry that will potentially yield the most significant benefit from the technology is healthcare, where the ecosystem of medical data storage and retrieval promises to transform the industry and, consequently, the speed of diagnosis and technological advancement.
“The current scenario involves a digital culture, verticalization of health services and adoption of technologies that effectively propose a cultural and digital transformation, which can aggregate and allow an efficient journey, with greater proximity between doctors and patients. It is important to know and follow the patient’s journey, even before he arrives at a care unit so that he can access information quickly and provide quality care based on concise information.”
The net result of higher data visibility and reliability its accelerated retrieval means quicker discovery of illnesses and hence more effective treatment delivery. This drastic improvement in an industry where every second matter mean the blockchain technology is essentially prolonging the lives of the patients and dramatically increasing their probability of being successfully treated.
This is the reason why a host of hospitals and healthcare institutes are investing in cutting-edge technology while ensuring that all professionals have full access to technology. Philips is one of such examples who has invested heavily in the integration of new technologies in the healthcare industry. For instance last year, Mark Hennessy, a leading researcher at Philips Research, described how the company is developing a “verifiable data system” which protects the data from any tampering and hides the identity of the patients from unauthorized people to avoid any malpractice.
He revealed how the blockchain-based system uses data anonymization, data request, and request handling to pull this off. All of these developments spell exciting times for all the stakeholders in the medical industry and hopefully bid for a better provision of healthcare for the patients.
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