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Blockchain technology can revolutionize the global medical system

Author:Hubi Date:2018-07-25 14:17:34

For a long time, the level of medical care in developing countries in the world has been below standard. The reasons for this may be related to the weaknesses of the system, including leadership, management capabilities, labor, technology, and funding.


In order to seek a lasting solution to these problems, people in most countries rely on international aid in this situation. Perhaps because health care beneficiaries lack motivation, they often need to go through rigorous procedures and play an important role in the setbacks they experience.the blockchain is showing a growing trend in the healthcare field.


The use of blockchain in the medical industry is becoming more and more common. It has several purposes, including strengthening supply chain management, especially in the pharmaceutical sector. The use of blockchains can enhance, data and process management, security and information confidentiality, public health surveillance and other purposes.


Tokenization seems to be one of the most dynamic aspects of blockchain technology, which gives it extended flexibility. The existence of potential tokens makes the transaction credible and transparent, and to a great extent reduces human influence, while human influence is considered to be the majority of bottlenecks in management settings. The payment, incentive, and incentive processes were also streamlined through smart contracts. Eventually, the trust and motivation of participants in the blockchain environment were rebuilt.


Given the achievements made so far, there is no doubt that blockchain technology offers tremendous opportunities for healthcare worldwide. Digital health experts and Izzy Care’s chief executive, Kenneth Colon, told reporters that one of the biggest promises of blockchain technology is that it can monetize patient health data and if they so choose, they can get financial benefits from their own data. Instead of those traditional businesses that store and control this data.


Reward program


Colon elaborated that blockchain technology can further tokenize the patient's health status. For example, token rewards can be issued in a distrustful manner to provide patients with treatment plans that suit their condition, sign smart contracts, and make progress on personal health and wellness goals.


This kind of development is expected to enable patients around the world to reduce medical costs and obtain economic benefits from achieving personal health goals.


In this way, the token economy can also subsidize individuals and families with little or no annual income, otherwise they may not be able to obtain high-quality medical services that most developing countries can obtain.


Relying on the blockchain is not enough


However, just as the blockchain technology is promising, it is worth noting that the blockchain itself is not sufficient to solve global healthcare problems.


One of the key issues that must be addressed is what kind of care is provided. At present, what we see in healthcare is the kind of one-off, transactional model. The local and international aid mentioned above seems to have a negative effect. Given the pressures and mismanagement that exist in the circles, this method will make the patient give up for help. The isolated nature of this care will also be counterproductive. You can't count on one person and one patient to thrive on their own if you can't take care of them comprehensively, without taking into account their overall medical needs, mental health, nutrition, and so on.


This focus should be on some robust, all-inclusive payment models to provide highly personalized and comprehensive care. This means treating patients as individuals rather than a one-size-fits-all approach, not only taking into account their physical health, but also taking into account their mental health and ways of supplementing proper nutrition.