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Enhanced Insurance Claim Process and Cost Effective:

One of the important goal is the
transactions in the health care financing tasks. Due to the decentralization
and real time claim processing the mediators can be removed from the process.
This will allow the solution to facilitate real time claims between all the
stakeholders without any middleman. Blockchain technology will remove the fraud
and improved the claim auditing. Private and Govt Insurers as well as the
patients will be facilitated by this. The main barrier of the claim criterion
will be resolved easily due to the certifiable records. The patient will be
easily available to the providers and health related services. It will increase
the security of patient medical insurance data.

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Accelerated Biomedical Research: Blockchain technology provides
many advantages to biomedical researchers, health care providers and
individuals. About 50% of the clinical trial goes unreported which creates
issues for patients, healthcare and policy makers. By the implementation each
organization can keep full control on their data while sharing with other
organizations for analysis. Researchers will have no need to gather data from
different places and the personal patient generated health data will be
available. The most important factor for researchers would have the evidenced
provenance for data. Researchers would be able to do research on the broad. As
Health Researchers need a comprehensive data for research so that to diagnose
the disease, explore the drugs and plan customized patient treatment based on
patient inheritance, environment, diet and lifecycle. The shared data provided
by blockchain will have an extensive set of data on the basis of the patients’
lifetime, different countries, different ethnic and from different geographical
environments. Due to the shared data by blockchain it is easier to create
results more representatives of the general people. Furthermore data gathering
from mobile applications and more frequent data from patients like daily blood
pressure, temperature and sugar level will improve the patient care with proper
treatment based on the continuous health data gathering.  Due to the access to real time data and
continuous availability of data by the blockchain would facilitate the serious
patients by monitoring all the time and would inform the health providers if
patient needs any urgent treatment.

Advanced Biomedical/ Healthcare Data Ledger: As blockchain
technology based on the decentralized database so all the stakeholders such as
Patients, Doctors, Insurers and Healthcare Centers will have access to a ledger
without relying on any single entity thus the blockchain will provide an
immutable, transparent and secure and unchangeable ledger without the consensus
of all the stakeholders. It will ensure the original manufacturer of the
medicine and its ingredients. Any transfer of ownership in pharmaceutical
supply chain will be available to everyone and fake medicine without the
authenticity of the manufacturer can be tracked easily. If the existing system
is transferred to blockchain then it will empower the anti tampering
capabilities during manufacturing and will improve the robustness for counterfeit
drug prevention. Moreover Patients will be confident if they are going to add
their consent statements at any point without any hesitation.

Challenges and Proposed Solutions for Implementing Blockchain
Technology For Healthcare/Biomedical Applications:

Before adopting Blockchain
Technology in the Healthcare/Biomedical the following challenges to be examined:

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