Source: www.healthit.gov; Frost & Sullivan
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Unlike existing security systems, blockchain-based systems operate on distributed network consensus with built-in cryptography techniques that make all record of digital events immutable and nearly impossible to hack. These unique properties of blockchain could potentially provide an additional layer of trust to minimize cybersecurity threats for HIT systems, connected medical devices and embedded IT systems. With this new blockchain technology, health systems, medical device OEMs, and healthcare technology companies can now append more reliable and secure strategy around device identity management, promote the Internet of Medical Things (IoMT) applications, and improve patient privacy, while providing selective access to patient-generated health data.
GROWTH OPPORTUNITY 2:
Health Data Exchange and Interoperability
Data exchange in healthcare is complex. With the increasing digitization trend, good health data interoperability is necessary to stimulate care coordination. It is important to understand that true interoperability is more than information exchange; it is the ability of two or more systems or entities to trust each other and then use the information with shared accountability. With this, the real challenges for health data interoperability transcend the technical facets to more fundamental concepts, such as lack of trusted frameworks and integrity with existing HIT systems. As a result, despite increasing adoption of EMR/EHR systems and digital health solutions, lack of trusted digital workflows has resulted in disparate HIT systems and centralized health data management models.