Blockchain has the potential to revolutionize EHR interoperability and the exchange of healthcare big data – Healthcare IT Analytics

Blockchain technology is creating hype around a gamut of industries and is being on speculations taking its capabilities in the healthcare sector.

Its functions of decentralized transaction validation, data provenance, data sharing, and data integration are a good fit for the needs of health information exchange and clinical trials.

After investigating the current workflow of Blockchain in EHR, here we distill down its inherent benefits in Electronic Health Records:

Data Security

Blockchain is equipped with the latest cryptographic features that safeguard patient-sensitive information and all medical data. It helps in checking the data authenticity with the help of a digital signature and provides full protection to data.

Cost Savings

This ledger technology eliminates third parties and banks by enabling peer-to-peer transactions which aid in lowering the transactional cost to a greater extent.

Increase in Patient Satisfaction

A blockchain platform coordinates patient records, a history of procedures, and insurance claims to reduce redundancies and prevent losses. This helps healthcare providers to access medical history and insurance information and make quick decisions. This also helps in improving the patient experience as well as the healthcare business model.

Accessing Distributed Data

Distributed ledger technology stores all the data in the nodes of a blockchain platform which allows hospitals, insurance companies, and patients to access the medical records from a single point that is secured enough and has full control that who should and shouldn’t see the patient’s data.

Healthcare Data Management

As aforementioned, if all the data has to be stored on a single point with open access will certainly add to woes and a severe threat to confidentiality. In such cases, permission blockchains such as Hyperledger Fabric or Corda set rules for giving permissions to companies to access the data.

Immutability

Data stored in the blockchain cannot be altered by anyone. Not even the admin, owner, or third party.

Besides all these, this distributed ledger technology ensures it provides Real-time EHR updates, seamless interoperability, and secured sharing of EHR while ensuring data integrity and protection of patient privacy.

How can Blockchain benefit Electronic Health Records (EHR) in the healthcare sector?

Blockchain technology enhances EHR by ensuring data security, reducing costs through peer-to-peer transactions, improving patient satisfaction with streamlined records, enabling distributed data access, managing healthcare data securely, ensuring immutability, and providing real-time updates, interoperability, and secured sharing while preserving patient privacy.

Related: Blockchain Technology in Healthcare: Use Cases, Benefits & Challenges Unlocked

Thrilled to know what experts think about this revolutionizing technology and its impact on the healthcare industry.  Join the Techtalk on “Blockchain and EHR” at 39th GITEX Technology Week to get deep insights.

Inflancer, a trusted healthcare and Blockchain App Development Company will be part of this coveted tech week and will exhibit its robust and customizable healthcare solutions.