Below are three areas in healthcare where smart contracts can be used, according to Yahoo Finance.
1. Health insurance: Patients can use smart contracts to purchase insurance and by doing so will be given all the details of the policy automatically in a secured profile. Smart contracts also eliminate the need to file lengthy insurance claim forms.
2. Health records: Smart contracts may help with interoperability between hospitals. If a patient travels between hospitals, the information can be easily moved on the blockchain.
3. Telemedicine: By using smart contracts, telemedicine providers can bring more security and privacy when sharing patient information and other clinical data.
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