We design and develop custom blockchain solutions for the healthcare industry. Integrate reliable and secure decentralized blockchain solutions for your business automation. Our blockchain solutions are tailored to specific business use cases via feature integration, system modifications, and implementations. From planning to design and development, we build enterprise-grade decentralized applications to help clients accelerate time to market.
Business logic to running blockchain nodes, keeping an incorruptible, decentralized and transparent log of all the data. When one device on a blockchain performs a transaction, all other devices generate identical blocks reflecting this action, making it hard to hack!
Up to 10% of drugs are counterfeited in the developing countries
Knowing about the origin of medicine, being sure that it hasn’t been tampered with, and verifying the legitimacy of the supplier, are some of the primary concerns of the medical supply chain. One of blockchain’s use cases in healthcare is that it allows stakeholders to track the products at every stage, including manufacturing, wholesale, and shipping to make sure the items are legitimate. Blockchain has serious implications for pharmaceutical supply chain management, and its decentralization virtually guarantees full transparency in the end-to-end shipping process. Eg. Once a ledger is created for a drug, it records the point of origin, a laboratory for example & from that point onwards every manipulation of this drug is documented.
10% of insurance claims are disputed, & 17% are denied
Blockchain and innovative contract technology can provide immutable data storage, security, transparency, authenticity, and security to multiple transaction processes in claims management. With blockchain, the whole insurance process, from authentication to claim settlement, can be done with more transparency and security. With smart contracts, insurance providers can automate their services, reduce administrative and claims processing costs, increase transparency, and prevent fraud. We can support insurance businesses with the implementation of blockchain technology and smart contracts.
High risk patient health information exchange
One of the highly-regulated and sensitive tasks in healthcare is sharing patients’ medical data. Obtaining access to a patient’s medical records is a human-intensive task and delays patient care. One of the best blockchain use cases in healthcare is to offer a comprehensive overview of patients’ records and manage data sharing consent. The decentralized nature of blockchain technology creates a single ecosystem of patient data that can be quickly and efficiently referenced by multiple stakeholders in the healthcare ecosystem, like doctors, hospitals, pharmacists, and anyone else involved in the treatment journey, thereby leading to faster diagnoses and personalized care plans. Also, this system empowers patients to have full control over their medical records.
Unique characteristics of blockchain help address problems in healthcare systems and processes
As the pandemic continues, healthcare faces new challenges, can blockchain come to the rescue? Some key benefits of blockchain in healthcare are trust, transparency, and data integrity.
Security – Information is stored across a network of devices rather than a single server, making it difficult for hackers to view and hack data
Transparency – in peer-to-peer network, all the participants can see the same information at the same time, providing convenient and trustworthy
Automation – Transactions can even be automated with “smart contracts,” which increase your efficiency and speed the process even further.
Speed – eliminate paper & excel based systems from the business process. Streamline documentation with blockchain
Traceability – blockchain isn’t just about speed; it’s also about the ability to trace the origin of those of the documents and products
Immutability – transactions, once recorded on blockchain, can’t be changed or deleted. As all transactions are time stamped & date-stamped for permanent record
Blockchain for the clinical trials industry
The risky and uncertain nature of the clinical trial process is a major driver of high costs for pharmaceutical drug development. Globally the drug development costs are around $350 billion per year. The clinical trial process generates large amounts of data, involving multiple stakeholders, such as sponsors, study subjects, doctors, researchers, drug manufacturers, etc. In the process, there are high possibilities of errors and also room for intentional falsification. Blockchain holds capabilities to radically reshape clinical trials and change the way information is transacted, stored, and shared. It offers a solution to more easily aggregate health data in a secure, trusted, automated, and error-free manner. It also enforces rules, privacy, and regulations in a mutually agreed upon manner, resulting in a smart contract between patients and healthcare stakeholders that can be an important enabler to clinical trials and research.
Blockchain tech to speed-up medical credentialing
Verifying credentials – training, skills, medical licenses, and educational background is a monotonous process that's typically performed via conventional methods and can take months to complete. Payers spend almost $2 billion per year to maintain a comprehensive healthcare provider database. Blockchain can offer a faster and more reliable substitute that doesn’t rely on direct human references in medical credentialing. It allows healthcare organizations to monitor the credentials of their workforce with a click, resulting in a streamlined hiring process, while improving transparency and trust between multiple stakeholders. Additionally, blockchain also allows incremental profile updates when professionals need to add qualifications.