We also design Blockchain/smart contract-based distributed and personalized storage models, which enable increased involvement of patients in the data management process. These models switch from a centralized repository structure to a “hold and transmit” patient data process. Blockchain systems eliminate the need for intermediaries to manage member and patient contracts, consequently reducing administrative costs and increasing efficiency in processing claims and go-to-market strategies. The distributed architecture and built-in authentication controls lower the risk of data theft and fraud, as well as drastically reducing transaction timelines.
Blockchain is an emerging digital health technology with disruptive potential, combining the opportunity to mitigate costs while providing the patient with a high-quality care experience. Blockchain technology realistically promises to enable a participatory approach to healthcare delivery allowing the transmission of patient data among different entities without compromising privacy or security, thus addressing one of the healthcare industry’s major challenges.
Blockchain technologies can deliver integrated care services coupled with increased focus on health management. By deploying a system based on distributed architecture, Blockchain does not require multiple levels of authentication and, at the same time, it provides access to on-demand, chronologically-arranged data.
Blockchain supports seamless information sharing that can eliminate duplication, errors, and inconsistencies that may arise with traditional, centralized data storage.
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