- Tracking the Drug-Supply Chain
- Secure Clinical Trials
- Patient Data Management
Tracking the Drug-Supply ChainThere are many opportunities to fight counterfeit drugs, reduce operating costs, streamline processes, eliminate duplication of work, and improve transparency in the healthcare industry. With blockchain, pharmaceutical and medical technology companies can track the movement of raw materials and components at each stage of the supply chain to the plant or patient. The provider can write information into the blockchain using direct data entry or sensors connected to the Internet of Things (IoT).
Secure Clinical TrialsAs a database, the blockchain is reliably protected from outside interference, since all data is confirmed and independently stored on thousands of different computers around the world. This technology can prevent falsification of the results of clinical trials on drugs. Blockchain uses SHA256, a first-class cryptographic algorithm, to ensure that clinical trial data cannot be modified or hacked by third-party intruders.
Patient Data ManagementYour patients will have full control over their medical reports with secure data storage on a decentralized system. Moreover, they will be able to share data without revealing their identity. Blockchain is a good match for your business if you want to: improve drug supply-chain efficiency and integrity provide accessible patient/doctor/insurance database manage fast, transparent patient-to-doctor transactions provide safety and security for patients’ personal data allow information-sharing between medical institutions, doctors, and professors worldwide