The Business APAC Healthcare Elites of 2019​ Final File_Healthcare Elites | Page 24

ARRIVALS
powered supply chain will be created, including all stakeholders like suppliers, vendors, distributors, and partners.
Importantly, this supply chain is created at every point along drugs’ journey from factory to pharmacy, eliminating the
exposure of drugs to duplicate vendors and distributors.
5. Fighting Data Breaches and Cyber-threats
The biggest challenges faced to date when it comes to population health management are data security, shareability, and
interoperability. Likewise, poor security protocols at many healthcare facilities have made centralized Electronic Health
Records (EHR) systems easy targets for hackers who have stolen millions of patient records and created chaos with
ransomware attacks. Therefore, many healthcare institutions have become wary of sharing or transferring EHRs for fear of
further breaches, avoiding negative media attention, and loss of community trust. In this case, the healthcare sector needs an
ultra-secure store of information to eliminate pervasive hacking and cyber-attacks. Thus, a secured blockchain data store
encrypts the data in blocks and eliminates potential threats to the information. Similarly, it enables people to participate and
monetize their data in the form of tokens in population health studies. With more data sets, it would be possible to use new
technologies such as AI and ML that will lead to the discovery of widespread population health risks.
Conclusion:
Majorly, blockchain’s potential for healthcare depends on how prepared healthcare organizations are to create the required
technical infrastructure. The blockchain is costly, there are some concerns regarding its integration with the existing
technology, and there certainly is speculation about its cultural adoption. But one thing is for sure i.e. blockchain has the
capability enhance healthcare systems, and over the past few years, businesses are significantly investing in the blockchain.
With such wide-ranging possibilities, it is no surprise blockchain seems poised to one of the key pillars in the digital world.
March 2019
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