Use of blockchain in healthcare
There’s a lot of hype around blockchain. In 2015, Tierion was the first company to complete a blockchain healthcare project through becoming the first partner in Philips Blockchain Lab. To separate the hype from the reality, we’re sharing our perspective after a year of working with the world’s largest healthcare and insurance companies. Many blockchain reports portray overly optimistic scenarios. We aim to provide a balanced perspective that addresses the opportunities and risks for the use of blockchain technology in healthcare.
What is Blockchain?
Blockchain started with Bitcoin in 2009. Bitcoin was designed as a global network for routing value without trusted intermediaries. Blockchain is a term used to describe systems that borrow technology and design patterns from Bitcoin. Key characteristics include no central point of control, high availability, strong data integrity, and network-wide consensus.
“…the term ‘blockchain’ has been so misappropriated that no one knows what it means anymore.”
– Elaine Ou, Bloomberg
There is a fierce technical debate over the definition of blockchain. For those making strategic technology decisions, the details of this debate may not matter. Companies will continue to market a broad range of technologies that carry the blockchain label regardless of the outcome.
Promise & Pitfalls of Blockchain Healthcare 2016
Most blockchain technology is not ready for mainstream deployment. Financial services companies have produced hundreds of proof-of-concepts. Most of these projects have not evolved into production ready software due to technical and regulatory challenges. Experimentation continues and activity is starting to accelerate in the health care and insurance sectors.
|Data Integrity & Security||
Data Integrity & Security
The volume of patient data managed by hospitals, doctors, and insurance companies increases each year.
- Electronic Health Records
- Health Information Exchanges
- Data collected from monitoring systems and IoT devices
- Medical insurance claims