Blockchain technology can revolutionize global health systems

Health care in developing regions has remained below standard for a long time. The reasons for this may be related to the weaknesses of the system in terms of leadership, governance, manpower, technology, finance, among others.

Traditional implementations of trying to find lasting solutions to these problems have left people running in circles with most nations on the basis of international aid. Perhaps the lack of motivation of health care recipients, who usually go through rigorous processes, also plays an important role in current failures.

Blockchain in health care, a growing trend
The implementation of Blockchain in the health care industry is becoming a popular practice. It is adopted for a number of purposes, including improving supply chain management, particularly in the pharmaceutical sector. Data and process management, information security and confidentiality, public health surveillance, among others, are also improved using blockchain.

Tokenization seems to be one of the most dynamic aspects of blockchain technology that allows the extended flexibility never before present in its implementation. The existence of underlying tokens has allowed for flawless and transparent transactions and greatly contributes to reducing the human influence that has been attributed to most of the bottlenecks that exist in the administrative parameters. Payments, rewards and incentive processes have also been remediated using smart contracts, restoring trust and motivation among participants in blockchain contexts.

With the progress made so far, it's no secret that blockchain technology presents huge opportunities for global healthcare. Kenneth Colon, digital health expert and CEO of Izzy Care, tells NCC that one of the biggest promises of blockchain technology is allowing patients to monetize their health data, if they wish, by allowing them to financially benefit from their data. who traditionally retain control of this data.

Diet Rewards:

Colon points out that blockchain technology can be used to symbolize the health and well-being of a patient. For example, symbolic rewards can be seamlessly awarded with smart contracts to patients to follow their prescribed treatment regimen and progress toward their personal health and wellness goals.
Such a development should enable patients around the world to reduce the cost of their medical care and financially benefit from the achievement of their personal health goals.

With the appropriate structure, symbolic savings could also help subsidize care for individuals and families with low or no annual incomes, who otherwise might not have access to the high-quality care they deserve, as it is the case in most developing countries. .

Blockchain alone is not enough
As promising as blockchain technology is, it's also important to note that blockchain alone is not enough to solve healthcare globally.

One of the key areas to address is the type of care provided. The type of punctual transactional model that we currently see in health care, such as local and international aid as mentioned above, seems counterproductive. These methods have a way of discouraging patients from seeking help in the first place, given the stress and mismanagement in these settings. The siled nature of this care is also counterproductive. You can not expect someone, a patient, to prosper if you do not do it holistically, taking into account their general medical needs, their mental health, their nutrition, and so on.
The focus should be on robust and inclusive payment models to deliver highly personalized, integrated care. It means treating patients as individuals, rather than as a single approach, and taking into account not only their physical health, but also their mental health and their access to adequate nutrition.

Therefore, it is also necessary to address supplier shortages by adopting other technologies and using them together with blockchain. For example, the use of artificial intelligence to further automate clinician workflows, allowing healthcare providers to focus on higher performing tasks, such as seeing more patients and strengthening patient-physician relationships. Or use telemedicine (encrypted messaging, live video) to fill gaps in providers, linking patients and providers around the world.

Solutions that enable patients to monetize their own data, reward patients for their care and reduce costs, make treatment accessible to all, support the evolution of delivery models to support precision medicine and integrated care and adopt technologies to automate workflows. Doctors have better quality interactions with more patients, I believe, are crucial for the advancement of health care around the world.

Disclaimer: The opinions expressed in the article are solely those of the author and do not represent those of NCC, and should not be attributed to NCC.