WHAT DOES BLOCKCHAIN PROMISE?
The Blockchain in healthcare is to solve many issues that the industry today is facing.
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Its aim is to create a common database of health information that doctors and providers can access; no matter what type of EHR they are using. By 2020, it is expected that about 60% practices will implement Blockchain.What’s possible and what blockchain could solve and make more promising future; the technology innovators in the healthcare industry are struggling to do.
The Blockchain technology enables the health data exchange systems that are not easy to access or communicate. This ultimately enables seamless access to real-time patient health data and eliminates costs and burden of data reconciliation. It gives way to transparent billing management. Now the Blockchain applications and systems, provides realistic solutions to minimize frauds and money laundering schemes. The Blockchain helps to reduce administrative costs too. APPLYING BLOCKCHAIN CAN HAVE BENEFITS SUCH AS: The blockchain architecture has built-in tolerance and disaster recovery. This open-source software is reliable, robust and even under changing conditions, does not match any other software. These open-source solutions also give way to innovations in the application market. The data in the blockchain is extendable and flexible. It accommodates any data that is available for the future reference. The disaster cannot impact all the locations, therefore there is no single point of failure. The Blockchain, offers a single storage location for all health data, securely tracking personalized data in real time.
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