How Blockchain and AI are Revolutionizing the Healthcare Solutions?

With the advancement of technology, the number of Blockchain use cases in healthcare is improving. It is used in different industries to secure payment. However, in healthcare, it has some other purposes apart from making payments. The big problem of today’s healthcare system is that it can not fulfill all the requirements of the consumers. According to recent statistics, global healthcare spending is said to hike up to $18 trillion by 2040.

Blockchain and AI have come up with a solution to all those problems. In this article, we will talk about various aspects of AI and blockchain technology that are going to have impacts on the healthcare system.

Blockchain Technology in Healthcare

You will find different kinds of blockchain implementation in healthcare. Some of the most critical applications are mentioned below –

  • Access to medical records

When you consult a new doctor, he will look for the medical history of the patient. But those medical records are not easy to access for the doctors. So they need to take help from your previous healthcare consultants, which takes a lot of time. Blockchain technology allows storing all the important patient data in a database. Both the doctors and patients are able to use those data effectively.

  • Tracking medical credentials

Some of the companies are taking help from blockchain development services to create a list of healthcare professionals.

blockchain devlopment

Blockchain Technology in Healthcare

It is essential to check the credentials and verify the previous work experience of the medical staff. Overall the process of hiring will become more manageable through the blockchain technology.

  • Secure payment

Blockchain technology is closely related to cryptocurrency. If you pay your bills through cryptocurrencies, there will be less chance that any middleman can interfere with your transaction. So you can get rid of fraud. With cryptocurrencies, you can track your payments in a better way. Also, it reduces the threats of hacking.

  • Trial of new drugs

Drag trials are important to ensure the safety of new medicines or devices, and it is done like an experiment. Blockchain in healthcare has a very vital role in conducting those experiments successfully. Large datasets are gathered and analyzed for research purposes. With the help of blockchain, all those data are kept stored so that the doctors and patients can avail them quickly.

Artificial Intelligence in Healthcare

Besides blockchain technology, AI also has a huge impact on healthcare. The major applications include—

  • Doctors with AI

It may sound a little weird, but this is true. Though AI doctors are not so popular, with advanced AI development solutions, AI agents have created that work as the assistant of the professional doctors. It will not take much time that the AI doctors will replace the real doctors completely.

  • Robotic dentist

There are some robot dentists that work with AI and function automatically. It will be beneficial to shorten the demands of dentists across the world.

artificial intelligence development

Artificial Intelligence in Healthcare

Robot dentists are a good alternative to the real dentists, and it is also said that the machine can do some procedures like teeth implants, etc. better than the human dentists.

  • Maintaining the prescriptions

There are some people who do not follow the doctor’s instructions about their medication. An AI development company can help to ease out this problem. The main target is to identify the profile of the patients who are not following the guidelines. However, the AI algorithm is not any difficult to track those patients and tell them to have medicines timely.

Benefits of Blockchain in the Healthcare Industry

Some of the essential benefits of using AI and blockchain in healthcare are like—

  • Personal health wallet

A personal health wallet is something that helps the patients to keep and maintain their health records properly. Through blockchain, it is easy to store medical data of the patients securely. You can connect to this personal health wallet via different wearable devices so that you can record and share health information with your doctors.

  • Transparent telemedicine system

With the help of blockchain, a patient can get connected to any doctors across the world seamlessly. It helps to identify the disease quickly and take rapid action. A transparent telemedicine system is very effective to bring the value-based networking projects in one place.

  • Decentralization of the system

A decentralized system is related to the commodity hardware in a hospital. Blockchain technology development companies are working on it to ensure complete protection without any man-made or natural disasters.

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Also, it will be a good opportunity for researchers to conduct sophisticated tests for measuring and providing treatment to several diseases.

  • Research and analyze medical data

Medical researchers can share data and analyze them, maintaining all the privacy and safety factors. It comes in use when they need to conduct an experiment on a small group of people. Blockchain technology is beneficial to gather information for analyzing the diseases and providing treatments accordingly.

  • Available medical records

Blockchain is used in integrating the medical records, which means a medical report can be stored in the blockchain so no one can change the record.

blockchain development company

Benefits of Blockchain in the Healthcare Industry

Thus there will be 100℅ proof of the records, which will be useful for any further medical considerations and legal as well.

  • Accessible data

Using Healthcare App Development solutions, it will be easier to access the patient’s data. Taking help from IoT and wearable devices, you can and access those data, including blood pressure, blood sugar, and more. Furthermore, you will be able to monitor the high-risk patients consistently so that you can inform their relatives and medical staff for any emergency.

  • Identify a single patient

In order to avoid doubling of the medical reports of the patient’s blockchain technology works so effectively. It not only does make this a task easier but also helps to manage the medical data for different EHR. As the data are kept in the blockchain ledger with hashes, every name and key shows the records of the individual patients.

  • Cost-effective solutions

The main aim of hiring a blockchain developer for the healthcare industry is to reduce the cost. The blockchain technology works without a third party or mediator who usually helps to collect and transfer data. Excluding this system from the overall healthcare system makes it cost-effective for users.

Downsides of blockchain technology in healthcare

Though the uses of blockchain technology in the healthcare system are increasing gradually, it has to deal with some challenges to work on a greater scale. Some of the biggest challenges are like—

  • Uncertainty

As blockchain technology is new, it has to overcome some obstacles. Apart from cryptocurrencies, blockchain does not have much popularity among common people, which is why there is a lack of blockchain start-ups in the healthcare industry. It gives a sense of uncertainty and doubts about the future of blockchain in healthcare.

  • Data authorization

It is also a big problem for using blockchain in healthcare as there is no particular mechanism to identify the owner of the data. Additionally,  you are not able to find out the person by whom the sharing is authorized.

  • Cost

It is challenging to fix an amount for blockchain and AI in the healthcare system. As it has started newly, price and budget differ from one blockchain development company to another. You have to know the actual cost to determine the budget for this technology.

  • Rules and Regulations

Another crucial problem is that there are no particular rules and regulations for blockchain in the healthcare system. Besides, it is not very transparent to anyone how to apply the privacy regulations, including HIPAA, when it comes to implementing blockchain technology in the healthcare sector.

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  • Storage capacity

The main purpose of blockchain technology to be used in healthcare is to store all medical records, documents, lab reports, etc. virtually. All patients will have their own copy, which will be stored in the blockchain ledger. There is a huge chance that it will exceed the present storage capacity of blockchain technology, which can be problematic after a certain time.

Summing Up

Needless to say that using blockchain technology in healthcare is not a very simple task. It has some great benefits as well as some severe drawbacks. However, it is expected that in the coming years, blockchain and AI will excel in the healthcare app development and thus make it easier for people to get better treatment.

FAQ's

The major three applications of Blockchain in healthcare include audit reports, drug trials, and performance-based healthcare. Nowadays, different applications like EHR, IoMT are also there to be used

EHR or Electronic Health Record allows patients and physicians to access data easily. It helps to understand the entire life cycle of an individual patient. No health agencies or mediation companies will be involved in collecting and analyzing data.

Although blockchain is completely a new concept for most of the common people, it helps to store data and distribute them through different networks so that the medical professionals can access them from any corner of the world.

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