Blockchain may save healthcare $100B annually by 2025

Although far from being implemented in healthcare, blockchain technology has potential to solve a variety of issues in healthcare, adding up to big savings, according to a BIS Research report. 

Advertisement

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.

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Innovation

Advertisement

Comments are closed.