Healthcare Technology
& Innovation
Previously published
on Frost.com
60
Top 5 Reasons Why
Every Healthcare Company Should Invest in Blockchain
Dr. Rahul Kushwah,
Chief Scientific Officer, Anantlife Canada Inc.
1060 Sheppard Avenue West, Commercial Unit 110,
Toronto, ON M3J 0G7 Canada
www.anantlife.com/cannabis
Technology can introduce new business models and improve care coordination.
One of the monumental shifts we are experiencing in the healthcare industry is the digital decentral-ization of the care delivery models. Digitization of drugs (therapies), devices, services and business models are democratizing current healthcare systems, unlocking new values by displacing high-cost gatekeepers and previously in-accessible segments. This has made the digital transformation theme a core strategic priority for all healthcare industry participants as they strive to justify the value in the much-anticipated data-driven, outcome-based reimbursement regime.
Concurrently, at a federal level today, most countries have policies or strategies outlining digital health objectives, which have increased the adoption of digital health records such as electronic health records/electronic medical records (EHR/EMR) and other health IT (HIT) systems or infrastructures. Regardless of these digital initiatives, current limitations around security, integrity, and access control for personalized health data are creating critical bottlenecks for care delivery innovations. This, in turn, creates an inefficient digital health workflow with acute data silos between different providers, hospitals and payers, and even various departments within a health system, impeding care coordination. As the healthcare industry struggles to find the trade-off between risk and reward of going digital, potential application of blockchain technology provides a timely solution to mitigate some of these pressing needs.