Integrating blockchain technology in the healthcare industry is a step that has revolutionized the sector. In fact, the blockchain features have added a particular value to the industry bringing the security at its highest level and reducing the privacy concerns usually expressed by healthcare customers. By introducing the transparent financial operations, blockchain has made available all data related to healthcare operators; these data are critical and vital for everyone who needs to present himself as a healthcare operator. In fact, healthcare operators are in constant competition for the best rank in the field; they strategies are variable, and there is indeed a specific threat for the clients; it is possible that the competition can reduce the quality of the presentation. With the blockchain technology, the risk is reduced to a low level.
Classical schemes of competition in the healthcare industry:
Traditionally, healthcare competition is focused on price. In fact, healthcare operators are targeting the ability of the patient to afford specific services at the bore prices. With high rates, patients expect to get access to high-quality services since the extra costs are delivered in more accurate services. This can dramatically affect the quality; it reduces costs and equally reduces the value of the presentation. The strategic plans of competing are resulting in a zero-sum competition which does not enhance the sector. There is still a considerable charge to be paid by insurance companies to compensate the reduced costs paid by patients.
Blockchain technology integration in the healthcare:
The real and efficient competition schemes are based on prevention, diagnosis, and targeted treatment. These are not independent of price factor, but they are the core of the competitive modules. Amazingly, blockchain technology brings to life these elements and makes them the basics of beneficial competition that would enhance the healthcare industry.
Blockchain technology basics:
Blockchain technology is based on transparent data management; data related to the transactions are recorded and can be viewed by the involved parties. This feature can tell the accuracy of the bill and how much it fits the presentation.
The recorded data are highly protected and can’t be altered because a routing network handles the encryption activities; this ensures a stealth and highly secure data management. Moreover, access to recorded data is only granted to permission parties. Still, the privacy and the anonymity are preserved.
Blockchain and competitive moderation:
The use of the ethereum platform in healthcare industry traduced by the creation of theHealthureum program has indeed profited the industry by making possible and efficient the core factors of fair and efficient competition which are prevention, diagnosis, and targeted treatment.
Prevention: By investigating the records, healthcare operators can determine maps of population health, and they are therefore able to match the presentation to the targeted areas. This is improved by the availability of professional analyst’s ready to conduct studies up on authentic records, validated of course by the routing network.
Diagnosis: The enhanced and interoperability has impacted the diagnosis accuracy. The several operators can view the complete record of the patient with no unnecessary delays and therefore can perform the complete diagnosis. The step also involves doctors and physician usually subject to competitive efforts among healthcare operators.
Targeted treatment: The promotion of philanthropic activities has enhanced the research trends and innovations. This has improved treatments for particular diseases such as Cancers and AIDS. Blockchain technology has therefore increased the implication of the healthcare operators in the research field and therefore gave them reputable statues.
In general, as instructed by blockchain technology, and the way the healthureum program introduces it, competition has become about innovations in intervention strategies, treatment technologies, and medical discoveries. The bill to pay by the patient is no longer the primary concern, yet it has its place in the system.
Healthureum project is actually the supervisor of the fair competition within the healthcare industry. Using the ethereum platform, which an open source project, the program has restored the competition to its standards by eliminating the price factor as the determining factor. Blockchain technology has re-introduced the real competitive factors by bringing the “crypto-features” into the healthcare industry. The easiness of cooperation is the essential element that has emerged in the industry. No such aggressive competition once resulted in altering healthcare presentations; it is about fair competition, even a competitive cooperation, that have brought the healthcare industry to its highest level of efficiency.