Blockchain offers a great opportunity to overcome the challenges of healthcare today, including interoperability, safety, integrity, traceability, and universal access. Blockchain addresses the challenge of synchronizing patient data between multiple disparate Hospital Information Systems (HIS) while ensuring patient data security and privacy through the adoption of a distributed framework for managing patient identity.

Blockchain technology offers a new way of strengthening the process by storing the parameters and providing an auditable production and shipping process with automated decisions. This technology is also used for file transfer in clinical trials to create and maintain patient data and pharmaceutical history storage of the blockchain network with patients, doctors, and payers using smart contracts to further determine the Certificate of Medical Necessity (CMN), thus avoiding intermediation.

Blockchain can be used to evaluate claims from scientific research, making it much faster and easier to share, authenticate and certify information, and make it virtually impossible to alter the data.

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One of the most exciting blockchain options is the identification of patients. Today, a patient is identified by a wide range of social security, medical, and insurance records. For organizations that rely on this information, blockchain makes it impossible to reconcile the time-consuming, error-prone and sometimes straightforward data of a particular patient. The blockchain is an ideal solution to the business problem of tracking and tracing pharmaceutical products, as it increases confidence through consensus, provenance, and immutability of the supply chain.

Today, the medical history of a patient is spread to many providers and organizations, making it difficult not only to access the information but also to share it with those who need it. Blockchain could connect these multiple data sources to create a single patient's real-time image.

The blockchain is the perfect paradox for the health and life sciences industries. These industries operate with an abundance of data—data that must be shared yet secure, data that is now more digitized than ever, and data that belongs to the increasingly empowered patient. Blockchain can significantly improve and personalize the patient's experience by providing faster access to these trusted data and facilitating better cooperation and greater transparency. The technology can also help to reduce falsified medicines, promote more efficient research and development, and promote new or optimized business models.

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