Healthcare and insurance are the important sectors in the world. This is because people usually face illness or other diseases for which they are required to avail the of medical treatment. As the treatment has become very expensive, the only solution to deal with it is having medical insurance. The insurance has the potential to cover up the medical expenses reducing the burden on the patients. But the healthcare system that stores the data related to patient medical history has become very difficult to manage. It has been reported that 30% of people claim the insurance without facing any illness as they are able to make modifications in their medical reports.

This is really a situation of concern, and the right action is to be taken as soon as possible to prevent the occurrence of something huge and very serious. The only best alternative is to upgrade the healthcare system and equip it with blockchain technology, one of the most advanced database systems. It can make the data of patients organized in a very safe and structured manner without having even a little chance of breach or any modification.

What is the response of organizations towards blockchain?

There are some of the leading organizations have adopted the use of blockchain technology for their healthcare system and are fully satisfied by the change. Earlier, one has to keep a full check on the record of patients, and still, there were several modifications made by the people. The first-ever use of blockchain technology in the healthcare system was observed in 2012, and the outcomes were really amazing from that time which has admired more and more organizations for adopting its use. As a result, the chances of any kind of misuse or changes in the patients’ medical records at Bitcoin Era have declined to the lowest level, which is a good thing.

Better storing and management of patient records

• This is the most amazing benefit, which has been an outcome of a healthcare system that was supported by blockchain technology. Earlier it was a really very complicated task to manage the data of a huge number of patients on the healthcare system. This is because of the lack of a proper method as the conventional approach cannot handle the data of a huge number of people. The worst thing is that anyone can have access to a database that is not supported by blockchain technology.
• They can easily make changes and even delete the data, which is really a bad thing for doctors as well as patients. In these terms, the platform which has blockchain is highly protected. There is no chance of even a little authority to anyone other than the authorized person, making it highly secured. After adopting blockchain technology, issues like stealing data or misuse have been reduced by almost 90%. In simple words, the doctors can access the natural medical history of their patients without getting worried about any kind of breach in it.

Reduction is the possibility of serious incidents

• The doctor must reach accurate and detailed information about the patient’s medical history. Any kind of misinformation or incomplete information can result in serious loss because it is about the patients’ lives. Sometimes there is an issue in the medical record of the patients which happens due to a technical issue, or some have done it intentionally, but it can lead to serious problems. The blockchain keeps each patient’s data in a separate block and protects it in a very safe manner so that the assigned individual can have its access anytime he is required to.
• As per the reports, the healthcare industry faces an enormous loss on a regular basis because of providing false information to the doctors who risk the lives of patients. But the ledger, which is based on blockchain, stores the full-fledge data of the patients without the possibility of any loss. Its main aim is to maintain all the data safely and safely, which reduces the chances of even a little modification or changes.

Thus, you would surely have understood that blockchain technology has been proved really very effective for the healthcare system.