Web3 Solutions for the Medical Industry

Healthcare industry stakeholders face many challenges, from supply delays or non-delivery to individual security and privacy considerations. Unfortunately, most supply chain solutions are disjointed, cumbersome, and lack the transparency needed to deliver high-quality care.

Alongside predictive modeling, blockchain can help overcome these challenges by supporting adaptive supply chains that scale. Instead of responding to shortages when they happen, the healthcare industry can leverage blockchain to mount proactive responses.

Accurate, accessible patient records are an integral part of quality care. However, this sensitive information must be secured and managed according to privacy laws like the Health Insurance Portability and Accountability Act (HIPAA).

While healthcare and insurance providers have access to this information, the current electronic medical record (EMR) systems make it near impossible to share data with patients.

Blockchain technology can help streamline the distribution of patient data while ensuring compliance. These decentralized ledgers can also leverage smart contracts to automate which parties can access specific information. This functionality is crucial when dealing with insurance providers who might limit coverage based on patient records.