In recent times, blockchain technology has emerged as the most promising cybersecurity tool in healthcare tech field. And the primary reason behind its increasing significance in almost all the fields including healthcare and wellness is the decentralized nature of blockchain that offers utmost transparency at all levels.
Healthcare sector is facing lots of issues of data breaches and frauds. Last year, the U.S. Department of Health and Human Services (HHS) reported at least 477 breaches in healthcare data. Media reported that 5.579 million patient healthcare records were affected by these breaches costing around $408/ second to the healthcare institutions.
That is why the healthcare technology innovators are now focusing on the use of blockchain for establishing a more integrated, and secure system of healthcare recordkeeping. Many leading companies including Walmart, MIT, and IBM have already started using this blockchain technology as a cybersecurity tool because of its multiple inherent features including decentralized nature.
These research institutions and large companies have already started implementing blockchain healthcare tech into recordkeeping. Recently eGT, a leading cybersecurity, and management consulting firm released a paper, “Disrupting Government Healthcare with Blockchain.” The white paper explores the real and practical applicability of blockchain in the federal health care sector, reported Cision. According to the President and Chief Strategy Officer at eGlobalTech, Branko Primetica, it is a great way for the company to share its knowledge and lessons that eGT has learned at large.
Another system that is exploring the possibilities of using blockchain technology in the healthcare sphere is MedRec which is a new, decentralized record management system that handles EHRs with the help of blockchain technology. According to Squares Space, MedRec system provides patients with an immutable and comprehensive log so that they can easily access medical information across all the treatment sites and providers.
Blockchain healthcare tech offers multiple cybersecurity benefits that fulfill some of the common needs of the health and wellness industry, reported Biz Journal. Some such benefits include individual record security, smart contracts, universal auditing, and consortium.
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