How Blockchain Benefits In Resolving the Challenges Of Health Care Industry? Whether we talk about managing the patient data or tracking of drugs through the supply chain, blockchain has come up with a buzzing technology that can resolve the various issues of the healthcare industry. Currently, the healthcare industry is struggling with the problem of inefficiencies, bureaucracy, errors and high administrative costs. In such a scenario, blockchain has come up as a boon that can prove beneficial for resolving the various challenges of this industry. Here, we are sharing five common issues of the healthcare industry that can be resolved by implementing blockchain technology:• Patient Records With the increasing numbers of patients, it becomes the responsibility of a healthcare provider to manage the health data of each patient on a regular basis. But, due to the increasing volume of patients, it becomes difficult for hospitals and clinics to proceed and store information in a secure and safe manner. The blockchain can help in managing this job by keeping the complete track record of the patient include disease registries, lab results, treatment, and others in a systematic way. • Eliminate duplicate and mismatched data Mismatched or duplicate data are common issues that mostly found while dealing with healthcare data and record system. But, when the data is recorded in the blockchain it will be hashed to a ledger and with the primary key. In this way, the user can easily find the record for single patient identification among the multiple addresses and multiple keys. It will save time as well as reduces the chances of any error. • Easy Claim Settlement
Blockchain works on a validation-based exchange through which claims can be automatically verified when the network will agree upon the contract which is executed. It eliminates the role of any mediator or central authority and makes the whole process easy and errors free while reducing the chances of any fraud. • Interoperability With blockchain network, data will be shared with only authorized providers in a most secure and standardized manner. This will ultimately eliminate the cost and burden linked with data reconciliation. Group50- To Provide Consulting Services On Blockchain Services Group50 has designed a Blockchain and IoT solution called as Scioebc™ which is powered by Thinaer.io. This solution is highly beneficial for the healthcare providers by enabling them to track the patient’s records from their admission to postdischarge. Through Thianer at Home, patients can get connect with their healthcare providers with the power of blockchain and IoT. At Group50, they have a team of subject matter supply chain experts of the health industry. They have developed the integrated blockchain and IoT plug and play a solution called Scioebc. Moreover, they have also created the 7 steps implementation process that includes four workshops mainly focused on assisting the senior leadership with planning and integration of these transformational technologies. Contact the Group50 experts to bring your business to the next level.
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