Blockchain for the Medical Industry? Maybe.

This morning TheNextWeb posted an article suggesting that “blockchainification” is just one more possibility looming in the future of medicine.

It is certainly possible – blockchain is the cool new kid that everyone wants at their birthday parties. But how will it serve the medical community?

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Making communication more efficient

This article immediately reminds me of an episode of the podcast The Impact, which explores the human consequences of United States policy-making. Their first season focused on health care policy, during which the host Sarah Kliff investigated why the industry is still so heavily dependent on fax machines.

In Barack Obama’s first presidential term, the government “spent upward of $30 billion encouraging American hospitals and doctor offices to switch from paper to electronic records.” It was massively successful, in the sense that nearly 85% of hospitals were using electronic medical records by 2015.

It was unsuccessful, however, in deterring dependence on fax machines: while hospitals now have digital records, they all use different software programs that don’t speak to each other. As a result, hospitals and offices still have to use the fax machine.

Businesses found an opportunity to monetize this digital revolution in the medical industry. Ultimately, the ease of sharing medical records is not in the interest of most companies (and hospitals) because it makes it easier for the patient (or consumer) to switch providers.

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More technology, more problems

Which brings me to my original concern with blockchain technology. It all sounds well and good to have this incorruptible digital ledger, but can it be read by any software? Or will everyone in the supply chain need to have the same program?

While it seems to be in everyone’s interest to exchange research and ideas, it is not necessarily a profitable business practice.

Another obstacle that “blockchainification” may face, according to TheNextWeb, is recently-implemented General Data Protection Regulation (GDPR). It would seem, however, that blockchain technology may actually work in favor of GDPR because it has the potential to give data control to the patient, rather than locked in the hands of the healthcare provider.

There are still significant questions like this that need to be explored before blockchain is meaningfully implemented throughout industries.

Author: Sterling Schuyler

Sterling writes to put broad statements into real context. She enjoys conducting in-depth research in order to bring factual integrity to any topic, especially anything about food. Whether it's the ethics of food science or the tale of a family-owned business, Sterling loves to breathe life and substance into these stories. In her downtime, she enjoys gardening, playing board games and video games, and writing for her personal blog The Asian Craving.

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