Blockchain: A Digital Breakthrough in Healthcare

Abstract

Blockchain is a distributed, inflexible ledger or database in which events or transactions are documented sequentially and cannot be amended once they have been recorded. Due to the rise in its popularity and efficiency, blockchain is becoming an integral part of many essential sectors, including healthcare. As the purview of the multiples, it may be used in a range of healthcare contexts, including fitness trackers and the improvement of medical dissertations. The purpose of this chapter is to discuss the benefits and challenges of implementing blockchain technology in healthcare and aims to demonstrate how the logistics of the healthcare sector can be optimized using blockchain technology. Among the major selling points of blockchain technology in the healthcare industry are patient’s computerized medical record management, prescription drug logistics, biopharmaceutical science and technology, telemonitoring, medical insurance assertion processing, and patient data predictive modelling. It has also led to an increase in the use of mobile healthcare concepts. Standardization, monitoring, sustainability, rapidity, and the incorporation of shareholders are but a few of the impediments to the use of blockchain technology in the healthcare industry. The expense of using blockchain in healthcare is a huge worry. Concerns about blockchain’s potential detrimental impact on the environment are equally compelling. In this chapter, we will further discuss the aforesaid concepts of blockchain in healthcare. The ability to access, modify, and rely on data emanating from healthcare activities is critical for the sector’s overall operations, given that healthcare is a conflict-heavy, data- and manpower-concentrated industry.