Blockchain technology is the latest buzzword for a myriad of industries looking to hone their data practices and streamline processes. Blockchain can help simplify various processes and drastically improve industries if implemented correctly. Not to be left out of the benefits of this emerging technology, the healthcare industry is exploring ways that they can implement blockchain to serve a variety of purposes within that field. Here are a few of the top ways that blockchain can contribute positively to the healthcare sector.

Patient privacy security

By implementing blockchain technology, hospital IT personnel can enable patients to access and change their own personal data and view their records at their own convenience. Patient privacy is also more securely protected when this kind of digital technology is used as opposed to the more traditional security measures. Not only are financial transactions more secure and accessible, but personal healthcare data is also affected in a positive way and easier to access for the patient.

Increased patient control

An additional application of blockchain technology would be that patients would gain more control over their electronic health records. For example, the usage of blockchain processes would give the patients the access to change and maintain reimbursement requests, coding, and more. The use of this technology would also create a more global patient data system where physicians from all over the world could access a patient’s electronic health records in an effort to provide critical input for a variety of purposes. Doctors will be able to easily access patient records from other offices and professionals and achieve a more comprehensive understanding of an individual’s medical history. The possibilities are endless once this technology becomes more widespread in its use.

Legitimate drug testing

As the problem with counterfeit drugs continues to escalate, the use of blockchain technology is being discussed more and more as a way to stem this growing issue. This technology can assist patients in verifying the authenticity of a drug by its manufacturing information and prevent serious issues from taking a counterfeit drug.

Medical research opportunities

One of the most promising uses of blockchain technology in the medical field is in the area of research consolidation and information dissemination. Current practices make real-time research result distribution impossible. As is stands, the research is not available in real-time. However, the use of blockchain could revolutionize how quickly this information is provided to physicians. This possibility would enable much faster treatment in critical medical situations. It would also provide much better coordination of medical records and clinical care processes, opening up a vast global network of compatibility within operating systems.