Identity thefts, spamming and financial data crimes, the patients data can be misused for many reasons as patients dont have control over their data.
2017 Ponemon Cost of Data Breach Study says that the cost of data breaches for healthcare organizations is estimated to be $380 per record.
Blockchain will have a considerable impact on a patients record sharing, billing, and medical research.
Read further to understand how a blockchain healthcare solution can be built to improve the management of the patients health record.
The medical data includes the doctors prescriptions, X-rays, MRI scans, ultrasound reports, angiography, radiography, endoscopy, and so on. Healthcare data comes in various formats like text, paper, numeric, pictures, videos, digital, or multimedia. IDC reveals healthcare data is expected to grow to 2,314 exabytes by 2020.
Electronic health records(EHR) contain exploitable information like name, address, place where you work, prescribed medicines, number of doctor visits and payment methods. A Medical record also contains sensitive protected health information like HIV diagnoses, cancer diagnoses, or psychological conditions.
Data Enrichment- Before storing data to the blockchain
Data Enrichment is a process to add value to enhance the data quality.
Patients health records need to be accurate, secure, understandable, time-stamped, and structured.
Storing unstructured data could lead to inconsistencies, delays in the treatment process, and inefficiencies.
It is essential to implement the following three steps to clean and secure the data before storing it on the blockchain.
Blockchain can eliminate the risks associated with centralization of data by storing the digital health records across multiple nodes within the network. Even more on Blockchain Healthcare, Patients can share their private key with health organizations: Blockchain healthcare solution can never reveal the patients identifiable information until they provide their private key. Patients can share the private key with the health organizations if required. Data would always remain non-identifiable to healthcare providers without the secret key. It is similar to how cryptocurrencies are stored on the blockchain, where the owner with the private key can only access it.
A blockchain can either be a public or a private blockchain. Since an user identity will not be visible in this solution, a public blockchain could also be used.
Once the data is stored, it can be consumed by different healthcare blockchain vendors using smart contracts.
Similarly, physicians in the healthcare centers could access relevant information such as the patients historical health records, age, and diagnostic reports.
Patients would have ownership of the data, i.e., they can decide what information to be shared with which entity using smart contracts.
Data Mining and AI in Healthcare Blockchain
For example, if a research company wants to get the analytics for HIV disease, smart contracts would enable them to access details like HIV type, most-affected city or country, age group, and gender while hiding the personal information of patients.
Heres what benefits could Blockchain bring to the Healthcare Industry
The inability to exchange healthcare records could lead to delays in treatment. But blockchain could alleviate this problem by decentralizing the data. Everyone within the healthcare network could access a transparent, yet immutable ledger while having the ownership of data.
If you’ve made it this far into 2018, then you’ve no doubt lived through the hype surrounding blockchain and cryptocurrency, especially when Bitcoin came close to eclipsing the $20k mark last December. While the market has simmered down significantly since then, the reality is that cryptocurrencyand the technology that powers itis here to stay, especially now that companies are finding more inventive ways to put blockchain developers to use.
From tracking the origins of jewelry to managing a global shipping system, blockchain is being adopted by the likes of IBM, Samsung, and even car manufacturers to pioneer the next wave of tech innovations. That said, it should come as no surprise that demand has already spiked for savvy blockchain developers. According to a 2018 report from Upwork, blockchain is the fastest-growing skill out of more than 5,000 on their platform, with growth increasing by more than 6,000 percent during the first three months of 2018.
Over the past decade, the Internet and software have made the transaction of money practical. You can easily shop online and trade securities. But transferred financial assets go through correspondent banks, archaic systems linking clearing houses, and central depositories. Sometimes it takes many days for the funds to reach an account or purse to settle. Not only are these systems slow, but they are expensive and unsafe. Blockchain development is addressing this problem by restructuring fundamental business transactions, including money market transactions, and introducing new forms of digital interaction.
The high importance of blockchain has attracted the attention of organizations in different sectors, with banking sector being the most active at this stage. Blockchain has resulted in the development of thousands of new job positions and new startups ranging from mobile payment solutions to health care applications.
Whether you need a prototype or a production-ready platform, our engineering teams deep experience in cryptocurrency, data science, and serverless computing can help you leverage the benefits of blockchain. We will evaluate potential blockchains for your project, including Ethereum, Hyperledger, EOS, NEO, Tezos, and Qtum, and choose the best fit, like when to use private permissioned blockchains such as Quorum.
Today we are taking a look at an UAE blockchain developer software company, Leeway Hertz – blockchain development UAE
They provide various services including : Blockchain PoC, We have completed more than 5 Blockchain PoCs for Startups and Enterprises.
Development Portfolio example:
Blockchain-based Pharma Supply Chain Solution
To track the movement of drugs from the manufacturer to the end consumer at global locations. Blockchain technology helps to maintain trust between all parties by capturing records from every location to the chain, eliminating paperwork. Ensuring no counterfeit medications slips because of lack of traceability. Ability to identify stock locations in case of a medical recall.
We convert ideas into practical applications that are scalable and reliable. We recommend following a process to test quickly and get product maturity at early stages. With the experience of building 100+ digital platforms for clouds, apps, and blockchain companies, we have tailored our process to match the ongoing blockchain industry changes.
Visual & Technical Design
Create User interface design for each software component
Design technical Architecture
Identify the level of focus on scalability and Security
Document technical GDPR compliance requirement
Create sprints and delivery milestones
Supporting the following platforms:
1. Ethereum – A decentralized public platform that runs dApps
2. Hyperledger – A provisioned private network meant to share data and process for enterprises
3. R3 – A solution for managing financial agreements
4. Stellar – Stellar is an open platform for building financial products that connect people everywhere.
5. EOS – EOS is a decentralized blockchain, which can process fast and free transactions.
6. Hashgraph – Fair, Fast and most secured acrylic graph DLT.
7. Corda – Corda is an open source blockchain platform for businesses.
8. Credits – Credits blockchain platform manages for creates financial services based on blockchain/ledger
9. NEO – NEO is a blockchain platform designed to build a scalable network of decentralized applications.
Health Information Exchange is another time-consuming and complicated process that leads to high healthcare cost.
According to 2016 Breach Barometer Report, 450 breach incidents occurred but information was only available for 380 breach incidents and, the breaches resulted in 27,314,647 affected patient records. Could decentralization solve the data security issues in healthcare? Is it possible to save data securely on the blockchain?