A key challenge related to patient data is that it is fragmented.A Blockchain China Recycled Fabric suppliers network is akin to laying rails between two cities, once the infrastructure is established multiple business processes and use cases can be enabled on the network amplifying the benefit to all participants. Improving data management with enhanced data accuracyProvider data directory is a classic example where the industry ends up with less than 50 per cent compliance and reduced subscriber/patient satisfaction even after spending millions annually. No payor will have a competitive disadvantage in sharing provider data with others.
In the above example, once the PDM network is established, participants can solve other challenges such as longitudinal provider record, patient health record, plan sponsor renewal, coordination of benefits, contracts management etc. creating tremendous value for the collective.Blockchain offers a unique opportunity to the healthcare industry to unlock possibilities and diminish complexities in the ecosystem. (Representational Image)The healthcare industry is no longer supply driven; it is now steadily transforming into a demand-is driven consumer model. Another physician at another healthcare facility does not get easy access to the previous records of the same patient.
It is a distributed ledger or database which can exist on multiple systems simultaneously. The blockchain is one such promising technology that has recently emerged, and it is set to deliver great value to the industry.The shift from fragmented to complete patient dataBlockchain has the potential to address numerous challenges faced by the healthcare industry such as enabling on-time access to complete patient health information.
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