Challenges faced by the healthcare industry
Cybersecurity
The healthcare industry is a major target for cybercrimes, including leaks and hacks. According to the Identity Theft Resource Center, in 2017, 4.93 million patient records were breached.
Payment collection
The current payment collection system is unwieldy and costly, and often insecure. Patients find it difficult to use, and practices struggle to collect payment.
Patient records
Each institution holds separate patient records, creating bottlenecks to data access as well as duplications, errors, and cybercrime attack surface.
Financial processing
and auditing
A changing tax and regulatory environment will give healthcare companies new responsibilities that current systems cannot meet.
Drug
counterfeiting
The Reuters resource states that in developing countries, 10% of prescription drugs are counterfeit, leading to tens of thousands of deaths annually.
Clinical trial tracking and verification
Clinical trial data is difficult to collect and maintain. Moreover, it can be insecurely stored, and therefore it is often hard to verify.
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Contact usBlockchain solutions for healthcare from Aetsoft
Drug supply chain monitoring
Streamline quantity and quality verification processes across the pharmaceutical supply chain, based on real-time updates to an encrypted, decentralized ledger.
Patient record access and control
Put patients in control of which data they share and with whom, eliminate bottlenecks and blocking, and accelerate clinical access to crucial patient data.
Claims and payments management
Smart contracts allow automated claims management and payment handling, including escrow payments and accelerated prior authorization.
Medical IoT
security
Manage a secure medical IoT, including multiple medical devices. Prevent loss, hacking, and data tampering and ensure reliable functioning across different device lifecycles.
Research data verification and exchange
Provided that stakeholders gave their explicit permission, verified clinical research data can be rapidly and securely exchanged to provide more accurate trial outcomes.
Financial auditing and
transparency
Immutable and secure, blockchains create an audit trail by default, enabling healthcare organizations to reliably demonstrate compliance with financial and other regulations.
Blockchain applications in healthcare
Use case 1. Centralized database
Currently
With patient histories scattered across medical institutions, doctors have to continuously collect data from various care providers, risking to miss something or fail to obtain that at all.
With blockchain
Blockchain establishes a universal database where hospitals, pharmacies, and other healthcare establishments can seamlessly share data, with immediate access for each network member.
Use case 2. Detecting counterfeit drugs
Currently
Insufficient auditability and control within drug supply chains make it difficult to detect counterfeit medications (if any) in logistics, and those might reach drugstore shelves unimpeded.
With blockchain
Get end-to-end transparency across supply chains to promptly detect fakes and weed them out from authenticated drugs.
Use case 3. Cost-effective trials
Currently
So far, pharmaceutical and biotech companies have to apply to third-party genetic data providers, which makes trials more costly than they could be.
With blockchain
With a distributed blockchain database for genetic data, healthcare companies can collect the required information for trials intermediary-free, hence less expensive.
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