Healthcare e-commerce also recognizes opportunities for clinics, hospitals, and doctors’ offices to streamline their purchases of medical equipment and supplies.
E-commerce is shifting the landscape of healthcare. It is changing the way people shop for healthcare products and services. One of the most trending examples is that of telehealth. A lot of telehealth services are gaining attention like doctors offering advice over text or live chat to patients, e-prescriptions, appointment booking, etc. These telemedicine services are then linked with pharmaceutical companies to deliver medicines on a timely basis to the patients. Thus, enhancing the overall patient experience. The amount of patient data populated through such services is enormous. It is not only challenging to keep this data organized but it’s also hard to maintain privacy standards between different systems. That’s when blockchain comes to rescue. Blockchain can assist in the integration of data and allow secure information sharing. Due to HIPAA regulations, the stakeholders need to make sure that all of their patients’ medical information remains private, secure and encrypted at all times. Blockchain provides a more secure way to protect data than ordinary encryption. The technology allows for the implementation of new standards in managing insurance claims, PHI, and medical records.
Blockchain also enables the providers to the authenticity of the medical records. It provides proof-of-existence by adding data in the form of the transaction and validating the information by all system nodes. This characteristic will allow for the storage of results from clinical trials in a secure way. The technology also enables the medical providers to access patient’s records at the moment of need. The blockchain infrastructure could potentially keep this data private and secure while leveraging the benefits of connected medical devices. This way the patients will also have full access to their health history. They can add health information, such as from fitness trackers, to paint a bigger picture of their overall health. This shift puts a patient’s healthcare back into their own hands. Using this technology, researchers will now have enough data to identify patterns and use these to help choose treatments based on facts. With the growing interest in the genomic data, organisms will be added with the same incentives that a crypto-economy linked to a blockchain can provide. In the near future, we will also see how data on animals generated by veterinary telemedicine services are managed using blockchain.
Healthcare e-commerce also recognizes opportunities for clinics, hospitals, and doctors’ offices to streamline their purchases of medical equipment and supplies. One of the most serious problems in pharmacology is drug counterfeit. Blockchain enables all the transactions to be timestamped and immutable to detect fraudulent drug suppliers. Providers using blockchain technology have to register their products in the products in the private system to ensure authenticity and the high quality of their medicines. This makes it easy to verify the whole path of the drug and determine all the chain links at any time.
Today, blockchain is widely used in the financial sector but the medical organizers still hesitate to implement it into their IT systems. The providers who have adapted to this technology are experiencing the ease of managing their operational, clinical, financial and administrative tasks. Caregivers will definitely benefit from implementing this technology while remaining HIPAA compliant with this method of trustworthy digital protection.
[This is an authored article by Dinesh Samudra, Co-founder & CEO at CliniVantage Healthcare Technologies. All views, opinions and expressions are personal and limited to the author.]