{"id":36069,"date":"2022-02-24T09:37:14","date_gmt":"2022-02-24T07:37:14","guid":{"rendered":"https:\/\/www.getsmarter.com\/blog\/?p=36069"},"modified":"2022-11-09T15:21:19","modified_gmt":"2022-11-09T13:21:19","slug":"a-guide-to-blockchain-applications-in-healthcare","status":"publish","type":"post","link":"https:\/\/www.getsmarter.com\/blog\/a-guide-to-blockchain-applications-in-healthcare\/","title":{"rendered":"A Guide to Blockchain Applications in Healthcare"},"content":{"rendered":"\n<p>With the ability to reduce costs, protect patient data, and improve patient and health workers\u2019 overall experience, blockchain is a powerful solution to various persistent pain points in the healthcare industry.<\/p>\n<p>Blockchain technology has a wide range of applications and uses in this sector, from facilitating the secure transfer of patient medical records and managing the medicine supply chain to the outbreak of diseases and helping healthcare researchers unlock genetic code.<sup>1<\/sup><\/p>\n<p>Many healthcare organizations within a region, community, or system mobilize healthcare information electronically. This is known as a health information exchange, or an HIE. Let\u2019s explore the essential facts around enhancing and improving your HIE with blockchain technology. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"the-basics-of-blockchain\">The basics of blockchain<\/h2>\n\n\n\n<p>Blockchain is a distributed, decentralized, public ledger that stretches across a computer network. There are six general, but well-defined steps in any blockchain: <sup>2<\/sup><\/p>\n\n\n<div>\n            <!-- Responsive picture tag -->\n        <picture class=\"picture-block\">\n            <source media=\"(min-width: 768px)\" srcset=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/10\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2-03.png\" >\n            <img decoding=\"async\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/10\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2-04.png\" alt=\"\">\n        <\/picture>\n    <\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"how-blockchain-can-optimize-healthcare\">How blockchain can optimize healthcare<\/h2>\n\n\n\n<p>Blockchain technology can be transformative in healthcare. It can help achieve:<sup>3<\/sup><\/p>\n<ul>\n<li>Security<\/li>\n<li>Privacy<\/li>\n<li>The integration of health data<\/li>\n<\/ul>\n<p>Capitalizing on this technology can connect fragmented systems to generate insights and assess the value of care more effectively. In the long term, a nationwide blockchain network for electronic medical records may improve efficiencies and support better health outcomes for patients.<br><br>Blockchain offers the opportunity for a new technological model in an HIE that makes electronic medical records more efficient and secure. It can also reduce or eliminate the friction and costs of current intermediaries.<\/p>\n<h3>Types of HIE health data<\/h3>\n<p>HIE data is used to improve the quality of healthcare, prevent errors, and increase the efficiency of administration. It includes:<sup>4<\/sup><\/p>\n<ul>\n<li>Patient health information<\/li>\n<li>Electronic health records<\/li>\n<li>Data collected from Internet of Things (IoT) devices or monitoring systems<\/li>\n<li>Medical insurance claims<\/li>\n<li>E-prescribing<\/li>\n<li>Electronic dental records<\/li>\n<li>Secure messaging<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"data-breaches-hit-the-healthcare-industry-hardest\">Data breaches hit the healthcare industry hardest<\/h2>\n\n\n\n<p>According to the 2021 data breach report, the healthcare segment continues to be targeted by cyber criminals, having experienced more breaches than any other industry sector in 2021.<sup>5<\/sup><\/p>\n<p>In the first six months of 2021, 238 healthcare data breaches were reported.<\/p>\n<p>In a forecast of healthcare and blockchain trends up until 2025, it was found that blockchain can reduce $100 billion in annual costs for data breaches, IT, operations, support functions, personnel, fraud, and insurance.<sup>6<\/sup><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/10\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2_Slot15_finance_icon-copy-21-1.png\" alt=\"\" class=\"wp-image-43740\" width=\"206\" height=\"206\" srcset=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/10\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2_Slot15_finance_icon-copy-21-1.png 480w, https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/10\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2_Slot15_finance_icon-copy-21-1-420x420.png 420w\" sizes=\"auto, (max-width: 206px) 100vw, 206px\" \/><\/figure>\n<\/div>\n\n\n<p>Blockchain offers a solution to cyberattacks by decentralizing the domain name system (DNS) entries. By applying decentralized solutions, blockchain removes the vulnerable single points exploited by hackers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"eight-benefits-of-blockchain-in-healthcare\">Eight benefits of blockchain in healthcare<\/h2>\n\n\n\n<p>Before you invest in blockchain, it\u2019s critical to assess the risks versus the rewards of introducing the technology into a healthcare system. Let\u2019s start with the benefits:<sup>7<\/sup><\/p>\n\n\n<div>\n            <!-- Responsive picture tag -->\n        <picture class=\"picture-block\">\n            <source media=\"(min-width: 768px)\" srcset=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/10\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2-09-1.png\" >\n            <img decoding=\"async\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/10\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2-10-1.png\" alt=\"\">\n        <\/picture>\n    <\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"six-barriers-to-blockchain-in-healthcare\">Six barriers to blockchain in healthcare<\/h2>\n\n\n\n<p>Introducing blockchain innovations into this industry isn\u2019t without its challenges. Be aware of these commonly encountered limitations: <sup>8<\/sup><\/p>\n\n\n<div>\n            <!-- Responsive picture tag -->\n        <picture class=\"picture-block\">\n            <source media=\"(min-width: 768px)\" srcset=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/10\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2-07-1.png\" >\n            <img decoding=\"async\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/10\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2-08-1-1.png\" alt=\"\">\n        <\/picture>\n    <\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"seven-healthcare-companies-leading-the-way-in-hie-and-blockchain\">Seven healthcare companies leading the way in HIE and blockchain<\/h2>\n\n\n\n<p>Take a look at these seven companies, which are pioneering diverse blockchain applications in healthcare today.<\/p>\n\n\n<div>\n            <!-- Responsive picture tag -->\n        <picture class=\"picture-block\">\n            <source media=\"(min-width: 768px)\" srcset=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2022\/02\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2-05-2.png\" >\n            <img decoding=\"async\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2022\/02\/NEIL-PATEL-GS-BRAND-BLOG-slot-17_V2-04-4.png\" alt=\"\">\n        <\/picture>\n    <\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"look-beyond-blockchain-technology-in-healthcare\">Look beyond blockchain technology in healthcare<\/h2>\n\n\n\n<p>To appreciate blockchain\u2019s various applications in healthcare, it\u2019s important to understand how this type of distributed ledger technology works, and how it can be applied practically to the broader healthcare ecosystem, whether improving processes or enabling employees to realize their professional goals.<\/p>\n<p>While blockchain currently helps healthcare professionals to conveniently maintain extensive patient records, the advantages must be considered within the scope of pervasive challenges.<\/p>\n<p>It\u2019s clear that blockchain has started to disrupt, innovate, and reimagine healthcare and the world of work, and will continue to do so in the future. With any technology \u2013 and particularly blockchain \u2013 it\u2019s critical to keep up to date with the latest developments.<\/p>\n<p>The <a href=\"https:\/\/www.getsmarter.com\/products\/uct-blockchain-and-digital-currency-online-short-course\" target=\"_blank\" rel=\"noopener\">Blockchain and Digital Currency: The Future of Money<\/a> online short course from the University of Cape Town (UCT) will provide you with an in-depth understanding of how blockchain works, with a focus on crypto assets.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><strong> Discover how blockchain will impact the future of finance<\/strong><\/p>\n\n\n\n<div class=\"related-programme-block\">\n<div class=\"related-programme\" onclick=\"window.open('https:\/\/www.getsmarter.com\/products\/mit-sloan-blockchain-technologies-business-innovation-and-application-online-program', '_blank')\">\n    <div class=\"row\">\n        <div class=\"col-12 col-md-11\">\n            <div class=\"related-programme__school-logo-container\">\n            <a href=\"https:\/\/www.getsmarter.com\/universities\/massachusetts-institute-of-technology\" target=\"_blank\" class=\"related-programme__school-logo-link\">\n                <img decoding=\"async\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2018\/09\/blog_related_courses_logos_MIT_Sloan.png\" alt=\"School Logo\" class=\"related-programme__school-logo\">\n            <\/a>\n            <\/div>\n            <div class=\"related-programme__copy\">\n            <a href=\"https:\/\/www.getsmarter.com\/universities\/massachusetts-institute-of-technology\" target=\"_blank\" class=\"related-programme__school-name\">\n                MIT Sloan School of Management            <\/a><br>\n            <a href=\"https:\/\/www.getsmarter.com\/products\/mit-sloan-blockchain-technologies-business-innovation-and-application-online-program\" target=\"_blank\" class=\"related-programme__programme-name\">\n                Blockchain Technologies: Business Innovation and Application            <\/a>\n            <\/div>\n        <\/div>\n        <div class=\"col-md-1 related-programme__chevron-column\">\n            <div class=\"related-programme__icon-container\">\n                <img decoding=\"async\" class=\"add-btn\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/themes\/blog\/assets\/icn_arrow-circle_right.svg\" alt=\"Read More Icon\">\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n<\/div>\n\n\n\n<div id=\"accordion\">\n<div class=\"card\">\n<div id=\"headingOne\" class=\"card-header\">\n<h6 class=\"mb-0\"><button class=\"btn\" style=\"background-color: transparent;\" data-toggle=\"collapse\" data-target=\"#sources\" aria-expanded=\"true\" aria-controls=\"sources\"> <strong>Click here to view sources<\/strong> <\/button><\/h6>\n<\/div>\n<div id=\"sources\" class=\"collapse\" aria-labelledby=\"headingOne\" data-parent=\"#accordion\">\n<div class=\"card-body\">\n<ul class=\"mx-0\" style=\"list-style: none;\">\n\n<li class=\"mb-4\"><sup>1<\/sup> Daley, S. (Dec, 2021). \u201834 Blockchain applications and real-world use cases disrupting the status quo\u2019. Retrieved from <a href=\"https:\/\/builtin.com\/blockchain\/blockchain-applications\" target=\"_blank\" rel=\"noopener\"> Builtin<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>2<\/sup> Hayes, A. (Feb, 2022). \u2018Blockchain explained\u2019. Retrieved from <a href=\"https:\/\/www.investopedia.com\/terms\/b\/blockchain.asp\" target=\"_blank\" rel=\"noopener\"> Investopedia<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>3<\/sup> Mosey, J. (Oct, 2021). \u2018The future of blockchain in healthcare\u2019. Retrieved from <a href=\"https:\/\/www.forbes.com\/sites\/forbestechcouncil\/2021\/10\/25\/the-future-of-blockchain-in-healthcare\/?sh=f61cdc0541f5\" target=\"_blank\" rel=\"noopener\"> Forbes<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>4<\/sup> Haleem, A., et al. (2021). \u2018Blockchain technology applications in healthcare: An overview\u2019. Retrieved from <a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S266660302100021X\" target=\"_blank\" rel=\"noopener\"> International Journal of Intelligent Networks<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>5<\/sup> Alder, S. (Aug, 2021). \u2018Healthcare industry has highest number of reported data breaches in 2021\u2019. Retrieved from <a href=\"https:\/\/www.hipaajournal.com\/healthcare-industry-has-highest-number-of-reported-data-breaches-in-2021\/\" target=\"_blank\" rel=\"noopener\"> HIPAA Journal<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>6<\/sup> (2018). \u2018Global Blockchain in Healthcare Market: Focus on Industry Analysis and Opportunity Matrix \u2013 Analysis and Forecast, 2018\u20132025\u2019. Retrieved from <a href=\"https:\/\/bisresearch.com\/industry-report\/global-blockchain-in-healthcare-market-2025.html\" target=\"_blank\" rel=\"noopener\"> BIS Research<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>7<\/sup> Thomas, L. (Jan, 2021). \u2018Blockchain applications in healthcare\u2019. Retrieved from <a href=\"https:\/\/www.news-medical.net\/health\/Blockchain-Applications-in-Healthcare.aspx\" target=\"_blank\" rel=\"noopener\"> News Medical Life Sciences<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>8<\/sup> Oderkirk, J. &amp; Slawomirski, L. (Dec, 2020). \u2018Opportunities and challenges of blockchain technologies in health care\u2019. Retrieved from <a href=\"https:\/\/www.oecd.org\/finance\/Opportunities-and-Challenges-of-Blockchain-Technologies-in-Health-Care.pdf\" target=\"_blank\" rel=\"noopener\"> OECD<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>9<\/sup> (Nd). \u2018About us\u2019. Retrieved from <a href=\"https:\/\/www.burstiq.com\/company\/\" target=\"_blank\" rel=\"noopener\"> BurstIQ<\/a>. Accessed February 22, 2022.<\/li>\n\n<li class=\"mb-4\"><sup>10<\/sup> (Nd). \u2018Individualized support for a unified circle of care\u2019. Retrieved from <a href=\"https:\/\/wholecarehub.com\/\" target=\"_blank\" rel=\"noopener\"> WholeCare<\/a>. Accessed February 22, 2022.<\/li>\n\n<li class=\"mb-4\"><sup>11<\/sup> (Nd). \u2018About us\u2019. Retrieved from <a href=\"https:\/\/nebula.org\/george-church\/\" target=\"_blank\" rel=\"noopener\"> Nebula Genomics<\/a>. Accessed February 22, 2022.<\/li>\n\n<li class=\"mb-4\"><sup>12<\/sup> (Nd). \u2018About us\u2019. Retrieved from <a href=\"https:\/\/medicalchain.com\/en\/team\/\" target=\"_blank\" rel=\"noopener\"> Medicalchain<\/a>. Accessed February 22, 2022.<\/li>\n\n<li class=\"mb-4\"><sup>13<\/sup> Marr, B. (Nd). \u201835 Amazing real-world examples of how blockchain is changing our world\u2019. Retrieved from <a href=\"https:\/\/bernardmarr.com\/35-amazing-real-world-examples-of-how-blockchain-is-changing-our-world\/\" target=\"_blank\" rel=\"noopener\"> Bernard Marr &amp; Co<\/a>. Accessed February 23, 2022.<\/li>\n\n<li class=\"mb-4\"><sup>14<\/sup> (Nd). \u2018The easiest way for users to connect crypto to your app\u2019. Retrieved from <a href=\"https:\/\/gem.co\/\" target=\"_blank\" rel=\"noopener\"> Gem<\/a>. Accessed February 22, 2022.<\/li>\n\n<li class=\"mb-4\"><sup>15<\/sup> Daley, S. (Aug, 2021). \u201834 Blockchain applications and real-world use cases disrupting the status quo\u2019. Retrieved from <a href=\"https:\/\/builtin.com\/blockchain\/blockchain-applications\" target=\"_blank\" rel=\"noopener\"> BuildIn<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>16<\/sup> (Mar, 2020). \u2018MedRec\u2019. Retrieved from <a href=\"https:\/\/dlt4all.eu\/medrec\/\" target=\"_blank\" rel=\"noopener\"> DLT4ALL<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>17<\/sup> (Nd). \u2018About us\u2019. Retrieved from <a href=\"https:\/\/patientory.com\/about\" target=\"_blank\" rel=\"noopener\"> Patientory<\/a>. Accessed February 22, 2022.<\/li>\n\n<li class=\"mb-4\"><sup>18<\/sup> (Jun, 2021). \u2018Patientory hurdles challenges during pandemic times\u2019. Retrieved from <a href=\"https:\/\/www.globenewswire.com\/en\/news-release\/2021\/06\/30\/2255981\/0\/en\/Patientory-Hurdles-Challenges-During-Pandemic-Times.html\" target=\"_blank\" rel=\"noopener\"> GlobeNewswire<\/a>. <\/li>\n\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>With the ability to reduce costs, protect patient data, and improve patient and health workers\u2019 overall experience, blockchain is a powerful solution to various persistent pain points in the healthcare industry. Blockchain technology has a wide range of applications and uses in this sector, from facilitating the secure transfer of patient medical records and managing [&hellip;]<\/p>\n","protected":false},"author":74,"featured_media":36071,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[117],"tags":[121,120],"article-format":[],"class_list":["post-36069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-trends","tag-health","tag-systems-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Applications of Blockchain Technology: Healthcare | GetSmarter Blog<\/title>\n<meta name=\"description\" content=\"Learn more about the applications, benefits and barriers to implementation of blockchain technology within the healthcare sector.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.getsmarter.com\/blog\/a-guide-to-blockchain-applications-in-healthcare\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Guide to Blockchain Applications in Healthcare\" \/>\n<meta property=\"og:description\" content=\"Learn more about the applications, benefits and barriers to implementation of blockchain technology within the healthcare sector.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.getsmarter.com\/blog\/a-guide-to-blockchain-applications-in-healthcare\/\" \/>\n<meta property=\"og:site_name\" content=\"GetSmarter Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-24T07:37:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-09T13:21:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2019\/09\/Slot22_Banner_MobileV1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2084\" \/>\n\t<meta property=\"og:image:height\" content=\"1159\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shameel Mohanlal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"GetSmarter Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.getsmarter.com\\\/blog\\\/a-guide-to-blockchain-applications-in-healthcare\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.getsmarter.com\\\/blog\\\/a-guide-to-blockchain-applications-in-healthcare\\\/\"},\"author\":{\"name\":\"Shameel Mohanlal\",\"@id\":\"https:\\\/\\\/www.getsmarter.com\\\/blog\\\/#\\\/schema\\\/person\\\/527df7e5676f2bfa7c943e1653764bff\"},\"headline\":\"A Guide to Blockchain Applications in Healthcare\",\"datePublished\":\"2022-02-24T07:37:14+00:00\",\"dateModified\":\"2022-11-09T13:21:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.getsmarter.com\\\/blog\\\/a-guide-to-blockchain-applications-in-healthcare\\\/\"},\"wordCount\":890,\"image\":{\"@id\":\"https:\\\/\\\/www.getsmarter.com\\\/blog\\\/a-guide-to-blockchain-applications-in-healthcare\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.getsmarter.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/Slot22_Banner_MobileV1.jpg\",\"keywords\":[\"Health\",\"Systems &amp; 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