{"id":21355,"date":"2023-03-28T05:57:30","date_gmt":"2023-03-28T05:57:30","guid":{"rendered":"https:\/\/www.antiersolutions.com\/?p=21355"},"modified":"2024-12-27T09:49:19","modified_gmt":"2024-12-27T09:49:19","slug":"is-blockchain-revolutionizing-the-healthcare-industry-the-truth-or-a-hype","status":"publish","type":"post","link":"https:\/\/www.antiersolutions.com\/blogs\/is-blockchain-revolutionizing-the-healthcare-industry-the-truth-or-a-hype\/","title":{"rendered":"Is Blockchain Revolutionizing the Healthcare Industry? The Truth or a Hype","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Global healthcare institutions must capitalize on Blockchain technology as it holds the potential to revolutionize the healthcare sector. According to a <\/span><a href=\"https:\/\/www.prnewswire.com\/news-releases\/blockchain-in-healthcare-market-size-worth--7308-32-million-globally-by-2028-at-76-30-cagr-verified-market-research-301518876.html\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\">, the size of the global Blockchain in the healthcare market is projected to amount to USD 7308.32 million with a CAGR of 76.30% by 2028.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the long run, the utilization of <\/span><span style=\"font-weight: 400;\">Blockchain in healthcare industry<\/span><span style=\"font-weight: 400;\"> will help businesses provide better health outcomes for patients. Considering the myriad of benefits offered by the Blockchain, it\u2019s paramount for healthcare institutions to realize the potential of decentralization, reduced transaction cost, data integration, and transparency.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This blog sheds light on\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Prominent reseasons why businesses must use <\/span><a href=\"https:\/\/www.antiersolutions.com\/blockchain-for-healthcare\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Blockchain applications in healthcare<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Companies utilizing Blockchain technology to streamline their healthcare operations\u00a0<\/span><\/li>\n<\/ul>\n<h3><strong>Key Reasons for Utilizing Blockchain in Healthcare<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">The following are some prominent reasons of using the <\/span><span style=\"font-weight: 400;\">Blockchain technology in healthcare<\/span><span style=\"font-weight: 400;\"> industry:\u00a0<\/span><\/p>\n<p><strong>Managing Health Records<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">From quality assessments to wellness polls, a significant amount of data is generated during the various phases of the clinical study. Healthcare providers suspect the validity of all data manually by matching it with original records stored in the system which is very hectic and time-consuming. Blockchain technology is based on cryptographic techniques which allows healthcare experts to store all data in EHR format while saving time, energy, and overhead cost.\u00a0<\/span><\/p>\n<p><strong>Analyzing Results of a Particular Procedure<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">With Blockchain infrastructure in place, researchers can monitor the side effects of any particular disease on a large scale through verified access to patients\u2019 data. Pharmacies can gather the data in real-time, deliver a wide range of precisely adapted drugs, and instruct patients to take medications accordingly.\u00a0<\/span><\/p>\n<p><strong>Reducing Needless Overhead Expenses<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">The usage of <\/span><span style=\"font-weight: 400;\">Blockchain in healthcare market<\/span><span style=\"font-weight: 400;\"> reduces unnecessary expenses as it eliminates the need for multiple intermediaries to analyze healthcare data. Many challenges that plague the healthcare system and require manpower such as report completion, record keeping, catastrophic data failure, and handling online fraud will be reduced to a greater extent.\u00a0<\/span><\/p>\n<p><strong>Monitoring Medical Supply chains\u00a0<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Healthcare institutions suffer huge losses every year as counterfeit drugs make their way to the industry due to weak medical supply chains. A Blockchain-based application would make it possible for healthcare experts to track medical supply chain from manufacturer to supplier and identify the provenance of fake drugs.\u00a0\u00a0<\/span><\/p>\n<div class=\"f_blog_cta\">\n<h2 class=\"f_blog_cta-title\">Launch Your own Blockchain Application in Healthcare<\/h2>\n\r\n\t<a class=\"paoc-popup-click paoc-popup-cust-42906 paoc-popup-simple_link paoc-popup-link\" href=\"javascript:void(0);\">Schedule Free Demo<\/a>\r\n\r\n\n<\/div>\n<h3><strong>Companies Using Blockchain Applications in Healthcare<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Here is the list of some popular companies utilizing <\/span><span style=\"font-weight: 400;\">Blockchain applications in healthcare<\/span><span style=\"font-weight: 400;\">:\u00a0<\/span><\/p>\n<h4><strong>Akiri<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Akiri is a US-based firm that runs a cloud-based network to tackle liquidity challenges and facilitate the movement of information among various participants in the healthcare economy of the U.S. The company is working with a mission to overcome liquidity challenges by following a novel approach to providing frictionless data exchange across the healthcare ecosystem.\u00a0<\/span><\/p>\n<h4><strong>BurstIQ\u00a0<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">BurstIQ uses an innovative Blockchain platform named LifeGraph to equip businesses in the healthcare industry with secure, trusted, and intelligence-driven data ecosystems. The platform allows healthcare institutions to build more personalized, secure, and robust healthcare solutions. It revolutionizes the way how patients\u2019 data is gathered, controlled, and managed.\u00a0<\/span><\/p>\n<h4><strong>Medicalchain\u00a0<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Medicalchain is a UK-based company that works with a vision to put users in control of their medical records allowing them to share every bit of data with organizations in their network. The Blockchain application created by Medicalchain provides patients with immediate retrieval of health records and allows them to share the same with doctors through online consultation.\u00a0<\/span><\/p>\n<h4><strong>Coral Health\u00a0\u00a0<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Coral Health strives to provide the best healthcare services to patients by making them feel safe and comfortable. The company leverages the Blockchain\u2019s potential to better accelerate the patient care process, improve outcomes, and automate administrative processes. Coral Health ensures that all records shared between patients and doctors are safe and accurate.\u00a0<\/span><\/p>\n<h4><strong>Chronicled<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Chronicled helps pharmaceutical firms streamline their supply chain operations by providing them with a solution called Mediledger Project: A ledger system designed to ensure the safety and efficiency of medical supply chains. The solution helps healthcare firms and officials to review any suspicious activity across the supply chain and reduce drug trafficking and counterfeit medications.\u00a0<\/span><\/p>\n<h3><strong>Conclusion\u00a0<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">To conclude, utilizing Blockchain technology isn\u2019t only a panacea for data standardization in healthcare but also provides a way to connect fragmented healthcare systems to better assess the value of care and generate insights. Though this blog will help many entrepreneurs know the prominent benefits of Blockchain in healthcare, some may find it difficult to understand the concept. In such a case, a consultation could be sought from a trusted Blockchain development company like Antier.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Antier is a world-class <a href=\"https:\/\/www.antiersolutions.com\/\" target=\"_blank\" rel=\"noopener\">Blockchain development company<\/a> that has been serving clients from diverse industry verticals including healthcare since its inception. The company has developed a plethora of Blockchain-based healthcare applications over the years to help global healthcare systems streamline their operations.\u00a0<\/span><span style=\"font-weight: 400;\">Contact us today to get your Blockchain-based healthcare app developed conveniently.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"<p>Global healthcare institutions must capitalize on Blockchain technology as it holds the<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":1,"featured_media":21362,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[3149,3153,3154,3150,3147,3151,3155,3148,3152],"class_list":["post-21355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-blockchain-applications-in-healthcare","tag-blockchain-healthcare-app-development-company","tag-blockchain-healthcare-development-services","tag-blockchain-healthcare-solutions","tag-blockchain-in-healthcare","tag-blockchain-in-healthcare-industry","tag-blockchain-software-development-company","tag-blockchain-technology-in-healthcare","tag-blockchain-technology-in-healthcare-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Key reasons why businesses must utilize Blockchain technology in healthcare<\/title>\n<meta name=\"description\" content=\"Check out this post to understand the benefits of Blockchain technology in healthcare and the list of companies managing their healthcare operations with Blockchain.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.antiersolutions.com\/blogs\/is-blockchain-revolutionizing-the-healthcare-industry-the-truth-or-a-hype\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Key reasons why businesses must utilize Blockchain technology in healthcare\" \/>\n<meta property=\"og:description\" content=\"Check out this post to understand the benefits of Blockchain technology in healthcare and the list of companies managing their healthcare operations with Blockchain.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.antiersolutions.com\/blogs\/is-blockchain-revolutionizing-the-healthcare-industry-the-truth-or-a-hype\/\" \/>\n<meta property=\"og:site_name\" content=\"Antier Solutions\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antiersolutions\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-28T05:57:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-27T09:49:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.antiersolutions.com\/blogs\/wp-content\/uploads\/2023\/03\/Blockchain-Technology-for-healthcare.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"931\" \/>\n\t<meta property=\"og:image:height\" content=\"551\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Antier Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@antiersolutions\" \/>\n<meta name=\"twitter:site\" content=\"@antiersolutions\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Antier Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.antiersolutions.com\/blogs\/is-blockchain-revolutionizing-the-healthcare-industry-the-truth-or-a-hype\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.antiersolutions.com\/blogs\/is-blockchain-revolutionizing-the-healthcare-industry-the-truth-or-a-hype\/\"},\"author\":{\"name\":\"Antier Team\",\"@id\":\"https:\/\/www.antiersolutions.com\/blogs\/#\/schema\/person\/2a0b462f1fcbeb315639b1f86b4d225a\"},\"headline\":\"Is Blockchain Revolutionizing the Healthcare Industry? 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