Blockchain allows for a decentralized way to document data, making it highly secure and tamper-proof. In the past, it has been touted to have uses for fixing interoperability, managing supply chains, securing clinical trial data and increasing Medicare adherence, according to an April 4 Fast Company report.
The new report from BIS Research suggests that although spending in the space has been slow previously, with only $170 million spent on healthcare blockchain solutions in 2018, it is set to grow. Global blockchain in healthcare is thought to hit $5.61 billion by 2025 and may save the industry up to $100 billion though reducing costs related to data breaches, operations, counterfeit-related frauds and more. This though will require significant uptake and investment of the technology, which is currently not in place.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
