Healthcare has been the sector of Industry that has grown considerably over the past years particularly in middle class and developing countries. With more people able to purchase health insurance in countries such as Nigeria rather than depending on state run care, the business looks to Bitcoin and Blockchain technology to modernise administrative and caring methods. The latest Bitcoin healthcare conference in Nashville discussed the practical applications of the digital technology in a clinical setting.
“You could have a perfect Blockchain identity system but it depends how people on the outside decide to store and use the information,” said Tierion’s Vaughan. “The network is a source of information but it doesn’t mean others won’t save it. Blockchain doesn’t mean the end of data silos.”
Blockchain technology was the highlight of the talks as they explored how the decentralized and secure nature of Bitcoin could not only keep patient info safe and manage integrity, the Blockchain could be used to allow a network to form between healthcare providers. Chris Kay the Senior VP at Humana further emphasized the enabling capabilities of the Bitcoin and Blockchain technology.
Bitcoin use between healthcare professionals is just as important as blockchains enabling capacity to allow communication between doctors and other holistic professionals who take care of patients every step of the way. Considering many developing nations do make healthcare fairly expensive the price saving aspects of the Blockchain technology are undeniable. Considering even citizens in the US healthcare is around $10,000 yearly, with the month ever increasing?
“Yet we still haven’t fixed the problem. You have a one in five chance of re-entering a hospital within 30 days,” Winkelspecht said. “So the industry is spending on new technology but not making the care any better.”
To conclude the healthcare industry may soon see modernized blockchain applications offering higher levels of care.