The proposed system will benefit the Healthcare Industry in many ways such as:
- Control access and EHR ownership: Blockchain will contain references to the EHR data, while Smart Contracts will define and enforce the rules of access for that data. This will ensure that only authorized persons/entities access the EHR data. In addition, the blockchain provides an irrevocable record of all events recorded. This will enable population health management and research.
- Transparency and Auditability in Government Healthcare program: An integrated and synchronized EHR system will put power in Government’s hand to efficiently and accurately involve the needed citizens in state-sponsored schemes. Also, the participation of private players can be very will merge to create a transparent and auditable system.
- Accurate and efficient diagnosis/prescription: The EHR will be a permission-shared asset across the EHR network of healthcare providers/hospitals.
- Reduced supply chain leakages: Real-time accurate data of patient needs enable near accurate predictions of medications needed aiding better inventory management by pharma companies.
- Fraud proof system: Real-time auditability and immutable nature of blockchain data-sets will make the system fraud proof and when implemented with operational checkpoints, it can be secured entirely.
- Clinical Trials: Using blockchain will help make clinical trials reliable at each step by keeping track and time-stamping each phase of the trial (trial protocol, patient enrolment etc). This can reduce the cost of life-saving drugs in short span of time to market.
- Preventive healthcare: Current advanced AI or conventional analytics can be utilized to draw out valuable insights from huge and diverse data-sets to help individuals/public institutions focus on preventive healthcare rather than just finding a cure for the ailment.