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The adoption of blockchain in the healthcare industry as we've discussed above will improve patient outcomes and has evidenced improvement in operational efficiency. Electronic health records help patients achieve better control of their data and improve accuracy and security. They reduce overall healthcare costs, which eventually makes healthcare more accessible and affordable<br><br>https://amrit.ai/
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The Impact of Blockchain on Society and Healthcare Blockchain in healthcare has been a game-changer; it was only a matter of time. It has been a key enabler in deeper research, effective processes, enhanced security, and efficient patient outcomes. The healthcare sector has continuously endeavored to improve outcomes for patients and make services more accessible. Features of Blockchain Features of Blockchain Blockchain is an essential disruptive technology; although having foundations in the digital assets space, the features of blockchain have been so compelling that they have been extended to other sectors, including healthcare. As many may know, blockchain is a distributed ledger system that records transactions in a decentralized database.
Benefits of Blockchain in Healthcare Benefits of Blockchain in Healthcare There are numerous ways in which the healthcare sector benefits from the use of blockchain; some of the most prominent benefits are listed here: 1. Electronic health records: Blockchain database enables seamless recording of patient data; This is one of the key features of blockchain. The maintenance of electronic health records is seamless and cost-effective. The database is self-regulating and self-correcting, which ensures that there is no human intervention. The accuracy of data is optimal compared to other conventional methods of storing / recording data. 2. Rich medical research work: Blockchain as a platform is decentralized and can be made public, thereby providing equitable access to people across borders. This allows the medical researchers to share their research work, it has also allowed researchers to collaborate on a larger scale, thus increasing the quality of academic publications. The ability to collect, store and analyzing data has also increased manifold. 3. Security: Security is one of the most exciting features of blockchain; this database can protect the data from ransomware and cyberattacks due to the high level of encryption that the data undergoes. The data is stored with a unique ID that is encrypted, although accessible by one and all; if available on a public platform, any alterations are reflected on a real-time basis and are possible only upon consensus across the data in other blocks. 4. Supply chain management: Blockchain technology has enabled shared infrastructure in the healthcare sector. The supply chains have been streamlined and are accessible across borders and timelines, thereby making them more reliable and accessible. The supply chains are easier to manage and track, the settlement is carried out seamlessly, and there is an overall reduction in the cost of operation due to efficient supply chain management. 5. Recruitment for clinical trials: As per research cited by AMIA Annual symposium proceedings, 86% of the clinical trials fail as they are unable to meet their recruitment goals. This can be attributed to the inability to recruit qualified participants on time. Over 19% of the trials are closed prematurely or terminated due to the inability to recruit the right type of talent for clinical trials. To Know More Click Here https://amrit.ai/
