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13 October 2022

Blockchain Technology Implementation in Healthcare Industry

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According to experts, the global blockchain market in the healthcare industry will grow from 1.19 billion dollars in 2021 to 126 billion dollars in 2030. The annual growth will be 68% on average. This article will tell why the market will grow and illustrate the most successful examples of employing blockchain in health care, pharmacy, and clinical studies.

Blockchain and healthcare


Blockchain is a database type that is distributed to numerous nodes of the network. Its task is storing and transferring digital information. The technology aims to keep the data securely and not allow changing, deleting, hacking, or compromising. Therefore, blockchain is perfect for financial, logistics, production, and other systems that collect data from various sources and provide them to all network participants.

Blockchain offers several advantages to the healthcare industry; let’s highlight the main ones:

Seven blockchain cases in health care.


As you consider the importance of blockchain in health care, let’s explore the primary options for using blockchain technology in health care.

Forging medicine and drugs


Issue. According to statistics, 1 million people a year die from forged medicine, which is inefficient, poorly efficient, or harmful. WHO says that about 10% of treatment globally is forged, while in developing countries, about 30%. Not only that, but the regions with most cases of fake drugs do not necessarily have poor laws and regulations. Since verifying the authenticity of medicine by patients and government is not common, there are no instruments for it.

The Organization for Economic Cooperation and Development (OECD) claims that pharmacy companies globally lose up to 200 billion dollars annually due to counterfeit medicine. To understand the scale of this issue, compare the number above to 250 billion dollars, which is illicit drug trafficking.

Blockchain solution. This technology will reduce the risks caused by faked medicine; consequently, it will save many lives and billions of dollars for the global economy. The blockchain will record all operations to register with the consensus mechanism, and all efforts to add unauthorized information to the blockchain will fail. Furthermore, the recorded data is protected from changing and deleting. It works since several successful solutions on the market prove this concept.

Here are the most famous cases:

Data storage and security


Issue. Data security is a critical issue in the health care industry. From July 2021 to June 2022, there were about 700 official cases of significant medicine data leaks. The malefactors usually steal banking information and data about credit cards. Also, they are interested in health status, genomic test results, and other medical data.


Main reasons for data breaches in the health care industry. Source

Blockchain solution. Blockchain provides decentralized and transparent journals with data; hence, there is demand for the technology and protection it provides, including in the health care industry. Furthermore, blockchain is transparent (all transactions are visible to the public) and confidential simultaneously since the network participants are anonymous. These features make blockchain perfect for storing health care data and exchanging it.

Here are several examples that prove it:

Data management and segmentation


Issue. Managing information is another aspect where the health care industry is poorly efficient. The problem s that critically important patient information is segmented and stored in several systems, which complicates the work for staff, especially in situations where a few seconds will determine whether a patient dies or survives.

Blockchain solution. Implementing blockchain in healthcare systems will completely change the means of storing and sharing digital patient cards. This technology helps to keep all patient data on one secure and reliable platform.

Clinical Medicine Studies


Issue. The clinical medicine studies sector has numerous problems. Data privacy, authentication reliability, and shared data usage security are the most critical. Also, the issues of the industry include:

Blockchain solution. Integrating blockchain into clinical research will help to start new initiatives in attracting patients and shaping the patients’ control over their medical data. The blockchain creates a decentralized market for data suppliers (including patients and test subjects). Thus, data sources will control the availability of information related to their health reliably and securely. In addition, the market will demand a system for the management of the agreeance of patients on transferring personal information and managing the clinic test of pharmacy drugs.


The clinical research scheme with blockchain employment. Source

There are a few solutions, yet they managed to succeed:

Supply chain management


Issue. What do we actually know about drugs? How can we be sure that they are genuine? Were the storage requirements kept while transporting them? These questions are critical for the supply chains of medicine products. It is hardly possible to provide an answer with the traditional approach to supply chain management; it is expensive and time-consuming.

Blockchain solution. Blockchain proved the efficiency in the supply chain for retail, fossils, automotive industry, and sea transportation. Undoubtedly, blockchain can optimize supply chains for the healthcare industry.


FarmaTrust application helps to manage and track supply chains for the healthcare industry. Source

Here are some actual examples of likewise solutions:

Employee certification verification.


Issue. According to Statista, about 1 million certified doctors are in the USA. With so many medical professionals, it can be challenging to verify everyone's credentials, and someone without the appropriate knowledge and skills may be allowed to treat a patient.

Blockchain solution. Similar to tracking the origin of medical goods, blockchain technology could be used to verify the qualifications of medical professionals. This would involve creating a blockchain platform in which trusted universities and medical institutions would enter data on graduates and employees, simplifying the hiring process for healthcare organizations.


ProCredEx blockchain optimizes data verification about the staff. Source

There is only one successful case in this sector on the market:

Genomics


Issue. Genomics is a biology sector that studies genomes' structure, functions, evolutions, mapping, and editing. Although the potential of this field for medicine is almost limitless, it has a solid limiting factor: many patients simply do not want to share their genomic data. This greatly complicates the development, as genomics relies on analyzing giant data sets about genomes and genes and their impact on living organisms.

Blockchain solution. Blockchain technology can become fundamental for decentralized platforms that will store data about genomes and share it. Moreover, Blockchain can become a trading platform where people sell their genetic information and provide scientists with valuable data faster than ever before.

Here are some examples:
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