One of the main reasons for healthcare providers to turn to blockchain technology is security. More and more healthcare organizations are managing health records through digital solutions to improve the efficiency, quality, and transparency of the healthcare system. According to news reports, between 2009 and 2017, 176 million patient records were exposed due to a data breach. Although blockchain is transparent, it does not affect data privacy because it conceals an individual’s identity using complex and secure codes, preventing the sensitivity of medical data. economic.
Blockchain is a distributed decentralized ledger spread over a shared network across a peer-to-peer setup. This means that the exchange of data takes place directly and there is no central authority controlling or manipulating it. A block in the blockchain refers to a set of data. A blockchain is immutable because the data cannot be changed once it is added to the blockchain. Blocks are linked to form a chain and this is what makes a blockchain trustworthy. It is this decentralized nature of blockchain that makes it possible for doctors, patients and healthcare providers to quickly and securely access the same information.
Let us now analyze the top 10 companies adopting blockchain in healthcare security.
It is a health-focused global network that leverages blockchain to connect people and businesses. It uses a global health data network platform that allows individuals and businesses to control, access, monetize and gain insights from health data. It helps securely manage large amounts of patient data. Its blockchain allows to sell, share, securely store or license data with script compliance to HIPAA rules. It helps to avoid the overuse of prescription drugs. It provides up-to-date information on the patient’s healthcare performance.
2. Medical chain
It is used to securely store health records and maintain the integrity of the records by establishing a single point of truth. Pharmacists, hospitals, doctors and labs need to get permission to access patient records Medicalchain helps to securely store and share electronic health records. The blockchain-based platform protects patient identities and maintains provenance records. In May 2018, Medicalchain announced the release of its telemedicine platform, ‘MyClinic.com.’ Here, patients can get video consultations with their doctors and use ‘MedTokens’ to pay for consultations.
It helps to store digital records that only hospitals and healthcare administrators can access. Physical papers are equipped with a special Factom security chip to store patient information. It is stored as private data and can only be accessed by authorized users. It helps to create a medical identity around an individual and logically and realistically solves reliability and accuracy issues through the Factom blockchain. Patient medical information can be recorded on a blockchain through a handheld medical wallet.
4. Protection time
Guardtime uses blockchain for cybersecurity applications. It helps healthcare companies and governments to implement blockchain in their healthcare system. It bridges the gap between patients, payers, providers, life sciences companies, and regulators by enabling data sharing between multiple stakeholders. It provides a single honest version of health records.
This Sino-European enterprise creates a global and participatory healthcare ecosystem. Founded two years ago, it ensures the security of sensitive medical data, free from hacks and cybersecurity breaches. Iryo helps unify health records. Iryo allows you to store and share medical history from anywhere in the world.
It is a San Francisco-based blockchain company that uses blockchain technology to improve accountability and traceability in conjunction with IoT systems for critical supply chains in the medical industry. medical and pharmaceuticals. In the case of time and temperature sensitive vaccines, using a blockchain solution will help speed up logistics, improve product visibility, add transparency, save costs, and reduce costs. deviant. The MediLedger project teamed up in 2017 to prevent counterfeit drugs from entering the supply chain.
It helps people to sell DNA information for crypto tokens. It plans to build a single blockchain platform that will allow anyone to securely share genomic data for crypto in the genomic data marketplace. Genomic data refers to the complete set of DNA, including all genes. EncrypGen launched the My-Gene Chain marketplace in 2018. Individual customers can share, secure, and remarket their unidentified genomic data. However, some experts have warned that the de-identification process will reveal other personal data.
8. SimplyVital Health
ConnectingCare is a product of SimplyVital Health that connects different healthcare providers on the same platform. This allows viewing of the same data for shared patients. Financial and clinical algorithms powered by artificial intelligence provide users with actionable strategic opportunities. It helps to conduct patient follow-up, which reduces the time and cost of care. SimplyVital Health is currently working on its second product called HeathNexus, which is a secure blockchain protocol that can be adopted by healthcare.
This French startup uses blockchain technology to combat drug counterfeiting. Drug counterfeiting is a worldwide challenge. According to reports, every year, more than 8,00,000 people die from consuming counterfeit drugs. Counterfeit medicine is a fake drug that is infected with bacteria, contains the wrong ingredients or active ingredients at the wrong dose. Using blockchain technology to assist in drug traceability. It allows participants to interact with the supply chain and alert laboratories in the event of a counterfeit drug. Blockpharma has developed an application that will control the origin of purchased drugs.
10. Coral health
It’s a Canadian business looking to leverage the power of blockchain to make personalized medicine a reality. Coral Health plans to create a platform that helps patients securely share health records with stakeholders. This facilitates wider application of personalized medicine. Its medical records demo was released in 2018. Using this feature, users can add their medical health records, request health habits and choose the doctor they want to share with. share your data.
Blockchain is a new technology that solves certain security problems. The use of blockchain to enhance electronic health information exchange (HIE) will facilitate faster data exchange across a variety of cost-effective and efficient healthcare applications. With blockchain, patients can choose to share specific medical data, for a specified period of time, on an anonymous basis. If built with the correct architecture, blockchains can be used to record and enforce consent-based patient data sharing. In short, blockchain provides up-to-date information and allows access on a need-to-know basis. Blockchain is an emerging technology that has the potential to change the way the world works.
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