Can Blockchain technology help in Healthcare Industry?

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BLOCKCHAIN TECHNOLOGY ITS BENEFITS IN
HEALTHCARE INDUSTRY
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What is Blockchain technology?
A blockchain is a decentralized, distributed and
public digital ledger that is used to record
transactions across many computers so that any
record cannot be altered at a later stage.
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Data breach has been a problem for all kind of
businesses. The cases of data breach has
specially increased in the Healthcare Industry.
Market researchers are always performing deep
research to find out the ways that can help the
healthcare industry to come out of this data
security problem. Blockchain technology has
come as a boon for combating this menace. Lets
have a look at the benefits of blockchain in
healthcare industry.
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1. Unchangeable traceable patient records
Blockchain developers create a system where
patient records are secure cannot be changed at
a later date. Patients have to give permission
to healthcare agencies to access the
records. They can create new records into blocks
that ultimately become a part a permanent part of
that particular patient.
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2. Reduction in the number of insurance frauds
Insurance frauds happen when dishonest offerers
patients submit wrong claims in order to get
payable benefits. Patients submit false records
to justify tests. Blockchain technology enables
patients insurance companies to enter their
information in distributed ledger that are
unalterable permanent. The best past is,
healthcare companies will have access to this
data.
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3. Facilitates data exchanges in clinical trials
It takes a considerable amount of time to get a
drug approval. And when the studies are conducted
at a global level, then there is no method by
which these studies can be collected at a single
database. Adopting blockchain technology will
combine all the results of the clinical trials
together and will also demonstrate it
efficiently.
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4. Reduction in pharmaceutical theft
Pharma companies require tracing their drugs
from manufacturing to the endpoints in their
supply chain. When blockchain technology is
adopted, there is a complete record of the
transport of such drugs. It results in the
reduction of chances of such drugs being stolen
at the point of transfer and all the recipients
of these drugs have complete information about
the source and the path to the recipient
resulting in no fear of fake drugs.

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Conclusion
Blockchain technology promises to be the most
transforming technology by making health
information exchanges more safe efficient.
Healthcare industry covers a large section in
any countrys complete economy. Hence, by
impacting the healthcare sector in a positive
way, blockchain technology can put a large impact
on a countrys economy.
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Why wait for others to zoom ahead?
PixelCrayons is a leading Blockchain developer.
We develop blockchain softwares which are suited
to your requirements and help you grow your
business. Your satisfaction is OUR pride. For any
queries feel free to check our services _at_
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