3 Ways Blockchain Is Changing Healthcare for the Better

The healthcare industry is one of the most challenging and expensive to operate in. Healthcare professionals spend a lot of time on administrative tasks, which means they have less time to spend with patients. This also leads to a lot of data being locked up in siloed systems and results in redundancy. At the same time, there are so many opportunities for improvement and cost optimization. Blockchain technology can offer exactly that kind of opportunity. Let’s take a look at how blockchain is changing healthcare for the better.

Transparency and Data Management

One of the biggest challenges in the healthcare industry is managing data and keeping it secure. And managing data is particularly difficult because it comes from a wide variety of sources. Healthcare providers, patients, and insurance companies may all be keeping data about a single patient. Most of the time, this data is kept on separate systems that aren’t connected to each other. This means that a patient’s data might be on 10 different systems — and even more if you think about the fact that the patient may have had previous medical procedures too. To make matters worse, this data is often stored on paper or in PDFs. When it’s stored like this, it’s much harder to access it and analyze it, which is essential for providing better healthcare.