Blockchain technology, an encrypted digital ledger, allows healthcare systems to collaborate between network users. But that’s just the beginning of its potential for the healthcare industry.
MDLinx cites three ways blockchain can be used to change the face of healthcare:
1. Interoperability
The Office of the National Coordinator for Health Information Technology has said the nation needs a health system that utilizes electronic health information to its fullest capacity. Blockchain can solve problems for interoperability, as it has the capability to authenticate identity, authorize access and contain a secure infrastructure for electronic health information.
2. Data exchange
Blockchain technology would be able to provide a more efficient way to exchange data between hospital systems. This increase in efficiency could lower costs for healthcare systems and provide more accurate diagnostics.
3. More data
Crucial data like drug origins and clinical trial data can be analyzed using blockchain technology. This information can help hospitals determine quality of drugs and ensure clinical trial data is accurate.
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