Why Healthcare Industry Should Care About Blockchain?

Blockchain technology provides significant application potential across some of the pressing needs of Healthcare industry. Despite the current euphoria, we need to understand and decode the hype cycle for blockchain technology and its realistic healthcare applications. At its core, blockchain would offer the potential of a shared platform that decentralizes healthcare interactions ensuring access control, authenticity, and integrity while presenting the industry with radical possibilities for value-based care and reimbursement models. Blockchain technology may not be the panacea for healthcare industry challenges but it holds the potential to save billions of dollars by optimizing current workflows and disintermediating some high-cost gatekeepers.

In this Frost Prospective/Insight, we have discussed blockchain technology’s potential application for major healthcare stakeholders such as Medical Device, Pharma/Biopharma and Health Insurance companies.

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