There are lots of use cases for blockchain technology in the Healthcare industry.
Someone recently asked our expert – why use blockchain for EHR/EMR?
What’s the difference between EHR and EMR?
There is a difference between EHR (Electronic Health Records) and EMR (Electronic Medical Records).
EHR is a collection of all the patient health data, usually over time and from multiple sources.
EMR’s are similar to a patient’s chart, and each doctor visit and procedure usually generates a new EMR.
How does blockchain make an EMR system stronger?
Immutability of data
you can add to a blockchain or change, but never delete. Blockchain provides a cryptographically secure transaction or record with a time/date stamp. Takes privacy and security concerns to the next level, and increases trust in the system and the records.
there are too many different systems being operated by healthcare providers, and the systems are incapable of communicating with each other. In many cases, digitized or even printed copies of medical records must be obtained when multiple healthcare companies or doctors are involved. Blockchain removes this by using Smart Contracts that govern the way information is to be added into the chain in a common format to all parties.
the decentralized nature of blockchain technology and use of consensus algorithms, means after a block of data has been validated by all members, it is sent out to all network members simultaneously. This eliminates the problem in centralized systems that not all members will have the latest information from the update, since they will update at different times.
Real Time Data
Since everyone is updated simultaneously, blockchain technology provides a view of data to all network members in real time. This is critical in emergency facilities and trauma centers, where a delay in getting the latest data or results available can mean the difference between life and death.
Because of enhanced security, privacy, and identity management features inherent in blockchain technology, patients can now have more control over their health records and who to grant access.
Since our STRATO enterprise blockchain platform is Ethereum based, it is amenable to tokenization, because of its roots in the cryptocurrency arena. Important to note the roots are shallow and the similarity ends there, as STRATO was developed for private permissioned networks, not as a public blockchain network used for cryptocurrencies. End result is the ability of patients to sell their anonymized health data for genetic studies, clinical trials, etc.
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BlockApps was the first company incubated out of ConsenSys in 2015 and has created several industry innovations including the launch of the best, easy-to-use, most powerful Blockchain as a Service (BaaS) platform on the market called STRATO. Since launching STRATO on Microsoft Azure in 2015, BlockApps has become the first blockchain company to partner with all major cloud platforms (Azure, Amazon Web Services, Google Cloud Platform) and is a founding member of the Enterprise Ethereum Alliance (the world’s largest open standard blockchain organization). Today, we continue to expand our partner network and the enterprise-grade capabilities of STRATO.
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