K
Kathleen Martin
Guest
Key Takeaways
A blockchain-powered health information exchange could expand interoperability, with the potential to reduce the costs and hassle of intermediary systems, experts say.
Blockchain background
What is blockchain?
Blockchain is a type of distributed database technology. Rather than being centrally located, the database is shared among individual nodes of a computer network. All information is stored electronically in a digitally encrypted format. Right now, the chief use case for blockchain is cryptocurrency.
You can think of the blockchain as a living ledger that records and stores transactions. It is an unmodifiable record shared via peer-to-peer transactions, built on transaction blocks hosted on a digital ledger.
Since blockchain lacks a central governing authority, it uses cryptographic strategies to permit interactions between network users who have no history of trust. These interactions include storage, exchange, and viewing.
In blockchain, transactions are distributed among all network users. Any interactions are exposed to all network participants and necessitate verification by the network before data is added to the ledger. This step allows trustless collaboration between network users, while creating an audit trail—a function with direct implications for healthcare.
Nationwide interoperability
How might blockchain benefit healthcare? Deloitte, the international consultancy firm, sees great potential.
The promise of blockchain has widespread implications for stakeholders in the healthcare ecosystem,” the consultancy wrote in an analysis. “Capitalizing on this technology has the potential to connect fragmented systems to generate insights and to better assess the value of care.”
The Office of the National Coordinator for Health Information Technology appears to see a need for integration Deloitte described. The office published a shared roadmap for interoperability, and blockchain may be a highway to this destination.
Continue reading: https://www.mdlinx.com/article/the-emerging-role-of-blockchain-and-how-it-could-change-your-practice/1yPqaRtzTt5JuPgw9qlc0h
- Blockchain is an immutabile cryptographic ledger, mostly used to record transactions.
- Since blockchain is encrypted and distributed, it could one day serve another purpose: storing and distributing health data.
- Policy makers have continued to signal that they’re interested in enhancing interoperability, and blockchain may be the technology to do it.
A blockchain-powered health information exchange could expand interoperability, with the potential to reduce the costs and hassle of intermediary systems, experts say.
Blockchain background
What is blockchain?
Blockchain is a type of distributed database technology. Rather than being centrally located, the database is shared among individual nodes of a computer network. All information is stored electronically in a digitally encrypted format. Right now, the chief use case for blockchain is cryptocurrency.
You can think of the blockchain as a living ledger that records and stores transactions. It is an unmodifiable record shared via peer-to-peer transactions, built on transaction blocks hosted on a digital ledger.
Since blockchain lacks a central governing authority, it uses cryptographic strategies to permit interactions between network users who have no history of trust. These interactions include storage, exchange, and viewing.
In blockchain, transactions are distributed among all network users. Any interactions are exposed to all network participants and necessitate verification by the network before data is added to the ledger. This step allows trustless collaboration between network users, while creating an audit trail—a function with direct implications for healthcare.
Nationwide interoperability
How might blockchain benefit healthcare? Deloitte, the international consultancy firm, sees great potential.
The promise of blockchain has widespread implications for stakeholders in the healthcare ecosystem,” the consultancy wrote in an analysis. “Capitalizing on this technology has the potential to connect fragmented systems to generate insights and to better assess the value of care.”
The Office of the National Coordinator for Health Information Technology appears to see a need for integration Deloitte described. The office published a shared roadmap for interoperability, and blockchain may be a highway to this destination.
Continue reading: https://www.mdlinx.com/article/the-emerging-role-of-blockchain-and-how-it-could-change-your-practice/1yPqaRtzTt5JuPgw9qlc0h
