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Blockchain Use Cases in Healthcare Industry - iFour Technolab Pvt. Ltd.

Information technology helps healthcare organizations in providing better services to patients and making better decisions. Some of the technologies like e-prescriptions, electronic transactions, and electronic medical records help in increasing the business functionality, removes data ambiguities, reduces the time of staff and physicians and enhances the relationship between the organization and patients. IT provides the ability to measure and monitor patientsu2019 health and provides better analytics to physicians.

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Blockchain Use Cases in Healthcare Industry - iFour Technolab Pvt. Ltd.

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  1. https://www.ifourtechnolab.com/healthcare-custom-software-developmenthttps://www.ifourtechnolab.com/healthcare-custom-software-development

  2. USE CASES IN: HEALTHCARE https://www.ifourtechnolab.com/healthcare-custom-software-development

  3. USE CASES IN: HEALTHCARE Blockchain in Healthcare Global Blockchain in the healthcare market is expected to grow at a CAGR of 63.85% from 2018 to 2025 BIS Research, up to $100 billion can be saved per year by 2025 in data breach-related costs IBM and Ponemon found that healthcare data breach costs average $380 per record, more than 2.5 times the global average across industries Blockchain can help reduce the number of attacks on users’ data Verifiable identity and authentication of all participants https://www.ifourtechnolab.com/healthcare-custom-software-development

  4. USE CASES IN: HEALTHCARE Blockchain in Healthcare Global Blockchain in the healthcare market is expected to grow at a CAGR of 63.85% from 2018 to 2025 BIS Research, up to $100 billion can be saved per year by 2025 in data breach-related costs Identity thefts, spamming and financial data crimes, and the patient's data misuse Consistent representation to access electronic health information Billing and Claims Management of medical claims related to patient diagnoses, treatments Global annual health spending is expected to have ballooned to over $8.734 trillion by 2020 IBM and Ponemon found that healthcare data breach costs average $380 per record, more than 2.5 times the global average across industries Blockchain can help reduce the number of attacks on users’ data Verifiable identity and authentication of all participants https://www.ifourtechnolab.com/healthcare-custom-software-development

  5. USE CASES IN: HEALTHCARE The distributed system allows for data exchange with higher levels of security Use Case 1: Clinical Health Data Exchange and Interoperability • Leveraging the technology to create a secure and unified peer-to-peer (distributed) database Cutting down on the administrative costs that the current system imposes Less vulnerable to technical failures and external attacks • Medical Chain – Users grant doctors immediate access to their health record via their mobile devices while data is kept secure on the blockchain Blockchain Security networks can be particularly useful for hospitals Initiatives: Benefits: https://www.ifourtechnolab.com/healthcare-custom-software-development

  6. USE CASES IN: HEALTHCARE Compresses cash flow cycles, and reduces revenue loss The distributed system allows for data exchange with higher levels of security Use Case 1: Clinical Health Data Exchange and Interoperability Use Case 2: Claims Adjudication and Billing Management • Lowers Administrative costs and eliminates the traditional claims clearing house and reconciliation layers • Leveraging the technology to create a secure and unified peer-to-peer (distributed) database Cutting down on the administrative costs that the current system imposes Makes claims processing and secure payment transactions work more efficiently and cost-effectively Ability to push suspect claims through the reimbursement process is diminished Less vulnerable to technical failures and external attacks • Medical Chain – Users grant doctors immediate access to their health record via their mobile devices while data is kept secure on the blockchain • Change Healthcare - Manage claims, remittances, improve collections, minimize denials and underpayments, manage daily revenue cycles operations effectively Identify suspect claims or payment requests Blockchain Security networks can be particularly useful for hospitals Initiatives: Benefits: Benefits: Initiatives: https://www.ifourtechnolab.com/healthcare-custom-software-development

  7. USE CASES IN: HEALTHCARE Just-in-time” delivery of products by integrating with hospital information system Compresses cash flow cycles, and reduces revenue loss Use Case 2: Claims Adjudication and Billing Management Use Case 3: Drug Supply Chain Management and Provenance • Enhancing SCM with digital tools, predictive analytics, and more accurate tracking techniques • Lowers Administrative costs and eliminates the traditional claims clearing house and reconciliation layers Private Blockchain’s and inter-enterprise networks for improved security and visibility Makes claims processing and secure payment transactions work more efficiently and cost-effectively All transactions between supply chain partners are accurately recorded and easily shared Ability to push suspect claims through the reimbursement process is diminished • Ambrosus - currently in talks with large pharmaceutical suppliers in relation to launching a pilot program utilizing their current products • Change Healthcare - Manage claims, remittances, improve collections, minimize denials and underpayments, manage daily revenue cycles a Reduce waste and fraud of order consumable supplies, including high-value medications and addictive opioids Identify suspect claims or payment requests Create a reliable and tamper-proof audit trail for products as they move through the healthcare environment Initiatives: Initiatives: Benefits: Benefits: https://www.ifourtechnolab.com/healthcare-custom-software-development

  8. USE CASES IN: HEALTHCARE Just-in-time” delivery of products by integrating with hospital information system Unique identifiers for medical devices and assets Use Case 3: Drug Supply Chain Management and Provenance Use Case 4: Cyber Security and Healthcare IoT • Enhancing SCM with digital tools, predictive analytics, and more accurate tracking techniques • Increases the security of medical information through the Decentralized Ledger Technology (DLT) Secured and selective access to patient-generated health data Private Blockchain’s and inter-enterprise networks for improved security and visibility All transactions between supply chain partners are accurately recorded and easily shared • Taipei Medical University Hospital & DTCO - Released phrOS to increase transparency between medical institutions by putting all of a patient’s medical information on a blockchain Smart medical asset management • Ambrosus - currently in talks with large pharmaceutical suppliers in relation to launching a pilot program utilizing their current products Reduce waste and fraud of order consumable supplies, including high-value medications and ad Remote and autonomous diagnosis Create a reliable and tamper-proof audit trail for products as they move through the healthcare environment Initiatives: Initiatives: Benefits: Benefits: https://www.ifourtechnolab.com/healthcare-custom-software-development

  9. USE CASES IN: HEALTHCARE Unique identifiers for medical devices and assets Promote research commons and remunerative models Use Case 4: Cyber Security and Healthcare IoT Use Case 5: Clinical Trials & Population Health Research • Increases the security of medical information through the Decentralized Ledger Technology (DLT) • Medical data on Blockchain could be used by trial recruiters to identify patients who could benefit from the drugs being tested Secured and selective access to patient-generated health data Managing IP/R&D assets transactions • Ambrosus - Abundance of blockchain systems currently available, however the company is trying to adapt them to the Pharma Industry • Taipei Medical University Hospital & DTCO - Released phrOS to increase transparency between medical institutions by putting all of a patient’s medical information on a blockchain Smart medical asset management Clinical trial data integrity & provenance Remote and autonomous diagnosis Faster Regulatory compliance & approvals Initiatives: Initiatives: Benefits: Benefits: https://www.ifourtechnolab.com/healthcare-custom-software-development

  10. USE CASES IN: HEALTHCARE What we offer? Custom Blockchain mobile and software Blockchain Consulting Cryptocurrency (ICO) https://www.ifourtechnolab.com/healthcare-custom-software-development

  11. USE CASES IN: HEALTHCARE What we offer? Custom Blockchain mobile and DApp Development Blockchain Consulting Hyperledger Service Cryptocurrency (ICO) Smart Contract Development https://www.ifourtechnolab.com/healthcare-custom-software-development

  12. USE CASES IN: HEALTHCARE Contact Us info@ifourtechnolab.com Follow Us : https://www.ifourtechnolab.com/healthcare-custom-software-development

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