This section will give you an overview of the various positive impacts of blockchain technology in the healthcare sector as well as its implication on collaborative research.





Prescription Drugs

By implementing digital prescriptions, secured on the blockchain, drugs in the pharmaceutical industry can be better controlled since paper-based orders can be tampered with and replicated. Also, upon delivery, digital prescriptions are nullified, unlike paper-based ones, which could be used again.

Patient Record Storage

Patient records are often misplaced in traditional methods, particularly when patients move between hospitals or doctors. There is also a discrepancy regarding their medical history or reports. Blockchain provides a secure, immutable database that can be accessed by multiple doctors, hospitals, and stakeholders at any time.

Big Data

Patient records stored on the blockchain in a decentralized database can provide significant data about each's overall health. An entire database of these records can then provide statistics on health conditions in a country based on demographics, age, gender, etc., which can be a tremendous problem-solving tool, leading to better healthcare for the future.

Health Insurance

Big data that is collected over time can be used to provide health insurance policies at a fair price, rather than a price based on demographics. For instance, two 60-year-old individuals might be the same age and race, but one might have a healthier track record resulting in a lowered insurance premium.

Verification of services

Often, upon the prescription of a medical service such as a blood test or an X-ray, patients do not complete the procedures on time or commit identity fraud. Blockchain technology can provide verification mechanism to confirm that the assigned patient did or did not complete the process.

Collaborative Research

In the world of medicine, most researchers are reluctant to collaborate on research due to the fear of having their hard work plagiarized. Blockchain technology being immutable, stores a record of each person's contribution along with their identity and time stamp, leaving no room for plagiarism. 

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