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Reinventing Healthcare on the Blockchain

This research explores how blockchain can address the long-standing issues of data fragmentation, security, and interoperability within the global healthcare sy

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Abstract

This research explores how blockchain can address the long-standing issues of data fragmentation, security, and interoperability within the global healthcare system. The current paradigm is plagued by siloed records, privacy concerns, and cumbersome patient data portability. The paper details how a decentralized, patient-controlled health record system could revolutionize healthcare delivery. By using blockchain, patients can act as the sole owners of their medical records, granting temporary, secure access to providers via cryptographic keys. This reduces the risk of massive, centralized data breaches and ensures that a patient’s medical history follows them between different providers seamlessly. The study also discusses the use of smart contracts to manage insurance claims, automate medical billing, and track the supply chain of pharmaceuticals to prevent counterfeiting. The findings illustrate that the primary obstacle to implementation is not technological but cultural and legal, specifically concerning standardized data formats across diverse healthcare institutions and strict data privacy regulations like HIPAA and GDPR. The research concludes that blockchain acts as the necessary connective tissue for a future, patient-centric healthcare model. Publication: Blockchain Research Institute

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Key findings

  • Blockchain empowers patients with control and ownership of their medical records.
  • Data fragmentation is significantly reduced when using a shared, interoperable ledger.
  • Smart contracts can automate insurance settlement and payment processes, reducing administrative overhead.
  • Standardization of data remains a critical barrier to achieving a global health information exchange.

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Citation

(n.d.). Reinventing Healthcare on the Blockchain. Blockchain Research Institute. https://www.blockchainresearchinstitute.org/project/webinar-8-reinventing-healthcare-on-the-blockchain/
Canonical knowledge ID: research:reinventing-healthcare-on-the-blockchain