1Professor, Department of Finance & Marketing, Faculty of Commerce, Management & law, Teerthanker Mahaveer Institute of Management and Technology, Teerthanker Mahaveer University, Moradabad, Uttar Pradesh, India, Email Id-vipin555@rediffmail.com
Online Published on 03 February, 2022.
The lack of traceability of transactions and the complicated network of middlemen in healthcare cause a slew of issues. To name a few: healthcare data is scattered across multiple silos, adversely impacting research and services; about half of clinical trials are never published; the cost of drug development continues to rise; and counterfeit and inferior medications remain a major issue. Because it offers trust without middlemen, has traceability as a default feature, and promises new business models by allowing innovative incentive structures, blockchain has the potential to address these issues. Blockchain has sparked a lot of interest in the healthcare sector because of its potential. We examine key application cases of blockchain in healthcare, including patient data management, pharmaceutical research, medical supply chain management, prescription administration, billing claims management, analytics, and telemedicine, as well as associated initiatives, in this paper. We discovered that the majority of blockchain initiatives are just white papers, proof of ideas, or products with a small user base. However, we saw an increase in the number, quality, and maturity of the initiatives. We also go through the technological, regulatory, and commercial barriers to blockchain implementation in the healthcare sector.
Analytics, Blockchain, Data Management, Healthcare, Supply Chain, Traceability, Trust
