Blockchain technology has broken all records by providing outstanding services in various industries. The top feature of providing security and transparency while performing any operation is the key reason it has become businesses’ hot favorite. As per precedence research from 2023 to 2032, blockchain in healthcare will grow at a CAGR of 34.02%. Also, the global healthcare market size is anticipated to be around $14.25 billion by 2032.
What Is Blockchain In Healthcare?
The healthcare industry has been facing serious challenges for years now. The top concern is the inadequacy of reserving the security of the medical records, data breaches, and the patient’s sensitive information leakage. The technology called blockchain maintains and records data with its distributed ledger technology (DLT).
Blockchain applications in healthcare are quite huge. It helps in making well-informed decisions. The doctors present in any part of the globe can view the data in real-time.
Blockchain technology in medical industries has fruitful applications in clinical trials. These are responsible for generating massive data and involvement of people like drug manufacturers, researchers, doctors, and so on. There are greater chances of errors in the study that need to be restricted from getting published.
With blockchain healthcare projects, such wrong research papers can be stopped from further publishing by the timely detection of irregularities. This aids in enhanced transparency, and the members from distinct locations have access to data simultaneously.
Blockchain Business Models for Healthcare Sector
Businesses in the healthcare sector come with essential attributes such as peer-to-peer networks, decentralization, and performing operations in a trustworthy network.
- Blockchain For Pharmacies: It helps in the seamless development and testing of new drugs. This innovative technology boosts the research process and amplifies efficiency at every level.
- Blockchain For Hospitals: It aids in protecting and securing the medical history of the patients and having access from any geographical location.
- Blockchain For Healthcare Centers: Blockchain technology completely handles the supply chain management from manufacturing drugs to their arrival in the pharma stores.
The business models for different subdomains of the healthcare facilities are helpful in maintaining cost-effective prices by proper utilization of the resources.
Business Challenges Of Healthcare Sector
The healthcare sector is facing several challenges. To overcome that, blockchain technology, with its multiple features, has eliminated loopholes that weaken the healthcare infrastructure. A few of them are mentioned below;
- Cybersecurity: The unauthorized access of the data by hackers leads to cyber attacks.
- Limited resources: People have access to limited healthcare services leading to poor health.
- Improper data tracking: There is insufficient data at the time of patient treatment due to improper data tracking.
- Healthcare transparency: Due to the lack of transparency, there are not-so-good patient-doctor relationships.
- Lack of research work: The inconsistency in research work due to outdated technologies does not detect the diseases earlier.
- Insurance claims: The discrepancies in the healthcare software do not provide insurance coverage to the patients at the required time.
Several data leakages exist in the already existing healthcare software that needs proper development and blockchain is the only solution to that.
How Can Blockchain Technology Help The Healthcare Sector?
Blockchain technology has provided great help in the healthcare sector. It has solved numerous issues that have taken the healthcare system backward. To empower the healthcare realm, this futuristic technology has a pivotal role to play.
- Enhanced Data Security: The data is secured with the standard protocols, and there is no way that the sensitive information gets leaked away.
- Continuous Data Monitoring: There is 24*7 data monitoring that helps optimize and handle data to save precious lives.
- Smooth Operations: Smart contracts help streamline the business operations and processes in the healthcare industry.
- Enhanced Drug Safety: Harmful drug reactions are the prime cause of human ailments and deaths, so blockchain can easily detect counterfeit drugs.
- Improved Clinical Reports: The elimination of any error present in the system to provide errorless clinical reports.
- Medical Credentialing: It authenticates that the medical practitioners are perfectly trained and have professional expertise.
- Blockchain Software for Health Records: Blockchain for personal health records safeguards the patient’s information to the utmost level.
The constant adoption of futuristic technologies helps in the reduction of any inadequacies and anomalies present in the healthcare sector.
Use Cases Of Blockchain in Telehealth Sectors
There are several blockchain technology applications in pharmacies, supply chain, remote monitoring, where they can find ways in which blockchain can secure health data by behaving as the top crypto solution provider for medical sectors.
Blockchain technology in pharmacies helps safely store prescriptions without leaking or modifying any data.
To get an overview of the use cases, the list is mentioned as under;
- Supply Chain And Logistics Management: It tracks every phase, right from drug manufacturing, raw materials, transportation, logistics management, and its final destination, which is the customer.
- Health Record Management: The proper management of the patient’s health records is maintained via blockchain across the globe.
- Medical Staff Credential Verification: The nurse’s and doctor’s credentials for their qualifications and experience are tracked carefully and in the shortest span of time.
- IoT Security For Remote Monitoring: Doctors can check the patients for their illnesses through IoT devices while not in physical touch.
- Development Of Smart Contracts: Smart contracts are basically responsible for providing privacy, quicker transactions, verifiable timestamps, etc.
- Drug Supply Chain Management: It involves the adequate planning and handling of the tasks such as manufacturing, procurement, distribution, and delivery of the supply materials.
The role of smart contract technology in healthcare has resulted in vast applications. Blockchain healthcare use cases in digital health provide a great improvement in maintaining high-security standards, conducting clinical trials, and patient data management.
List of Top 10 Blockchain Solution Providers for Healthcare Industry
On performing adequate research and analysis, we have assembled a list of the top 10 companies that offer hi-tech blockchain solutions in the healthcare industry.
In this article, we have enlisted all the top-performing companies, from which you can pick the one that suits your preference.
Tagline: Where science and technology work for you
Abto Software is the top blockchain development company that offers fantastic blockchain solutions in the healthcare sector. They are known for developing customized blockchain solutions development for healthcare that ease business operations and reduce operational costs.
Founded in 2007, they deliver ingenious solutions across every industrial domain and adopt agile methodologies for project management. Their developers are well-versed in adopting advanced tools, softwares, and technologies.
The company believes in building long-term relationships with its clients, leading to better customer retention. Their expertise is applicable to several industries like Fintech, Healthcare,eCommerce, manufacturing, retail, and more.
Few Highlights of Abto Software
- 16 years of market experience
- 30 Skilled Software Engineers
- Software Development Partner for over 200 customers from the EU and North America
- Utilizes blockchain platforms such as Hyperledger Fabric, Ethereum, Cardano, Stratis, etc
Get What Matters
Suffescom is one of the best blockchain healthcare app development company. Founded in 2013, they offered on-demand development services, and after gaining success in this field, they moved towards developing platforms based on emerging technologies.
The company provides fully tailored solutions that offer measurable outcomes to businesses. Their medical app development services are just awesome, and along with that, their blockchain healthcare solutions optimize the healthcare infrastructure, improve the patient care experience, and secure patients’ health information.
This company works with the objective of developing innovative and engaging applications that are in accordance with current trends. Their developed healthcare apps are built with advanced security elements, top-notch features, and user-friendly interfaces.
Building Quality Software
Q3 technologies are best known for offering end-to-end blockchain-enabled healthcare solutions to their clients. Their other services include software development, mobile app development, cyber security, providing intuitive UI/UX, cloud services, and more.
Founded in 1996, they have been in this industry for 25+ years and have provided customer-oriented solutions. They are working towards providing ultra-modern attributes to their healthcare platforms/apps.
The company provides world-class cloud and blockchain healthcare services that help streamline business processes. They provide exceptionally innovative, enhanced, and profitable solutions to businesses. With their constant effort, they have offered amazing services to their clients in the USA, Australia, and Dubai and are now looking forward to providing excellent solutions regarding blockchain in Healthcare in UK.
Another reputed name that offers A1 blockchain solutions is SoluLab. This crypto app development company for telemedicine offers amazing blockchain healthcare services, like maintaining patient data security, verifying digital identities, maintaining safe electronic health records, etc.
The company has made outstanding accomplishments in the healthcare domain by implementing blockchain solutions. They have helped several medical and insurance firms to handle their patients and staff’s data. They also provide fantastic consulting services on blockchain for health records globally.
This is one of the most popular blockchain healthcare companies that provides a superb range of healthcare services for blockchain in India and abroad. The platforms or apps developed by them are innovative and easy to navigate.
LeewayHertz is an impeccable crypto solution provider for medical sectors that was founded in 2007. Till now, they have developed 100+ digital platforms on blockchain, IoT, mobile, AI/ML, cloud, etc. They have a specialized team of designers and developed robust and scalable apps/platforms.
Their blockchain healthcare app manages patient data very carefully. It is one of those companies that has launched commercial applications on the Apple app store. They have developed digital solutions for famous Fortune 500 companies to streamline their business operations.
Their other services include AI, metaverse, NFT development, and more. The company uses top programming languages, outstanding frameworks, and advanced tech stacks to build the apps. Specifically speaking, their healthcare USA startup solutions are something to get inspired from.
OpenLedger is a prominent blockchain healthcare development company that has built various customized blockchain apps supported with versatility and scalability. Their services are focused on offering privacy protection, secure data exchange, drug traceability, and lack of providing ultra-advanced treatments.
The company uses the most dynamic and versatile blockchain networks to develop a robust and interoperable blockchain healthcare platform. Their seasoned team of developers has a knack for implementing customized blockchain solutions.
The company has a stupendous technical assistance team that provides 24*7 technical assistance to their clients. Their customer executives are available all the time to solve the client’s queries.
This company has implemented several innovative solutions that have revolutionized various healthcare subfields. They have helped enterprises to grow their business and generate high ROI. The company is mastered in providing subject matter advice on application development for blockchain.
Oodles Blockchain has a terrific record of providing ultimate blockchain healthcare development services to its clients. They have helped several startups and medium-scale organizations in building their dream projects. They are the best crypto app development company for telemedicine, providing exceptional services to their clients.
The company has helped several firms in making a global influence with their innovative ideas. They have experience in implementing fantastic blockchain healthcare solutions across diverse industry verticals.
ND Labs is a popular development and IT consulting company. Founded in 2022, they are new to this domain. But still have managed to transform the healthcare business with futuristic technologies.
The company provides all necessary features, APIs, integration, and mobile/web apps. They have provided substantiated healthcare infrastructure and facilities that have removed the biggest healthcare hurdles.
ND Labs is a trustworthy tech-partner when it comes to providing ultimate blockchain development services in healthcare and insurance. Apart from development, they also provide excellent consulting services to their clients.
We Bring Blockchain To You.
This leading IT company provides several outstanding blockchain services to its clients. Founded in 2009, they mainly deal with website/UI & UX app design, software development, and digital marketing services. Their committed team of developers has the relevant skills and expertise in their respective domains.
This leading company has developed several blockchain applications in the recent past. With time, they are moving forward to excel in every domain like healthcare, real estate, finance, education etc.
Their blockchain healthcare apps are phenomenal, i.e. embedded with top-rated features. They have helped several medical firms in developing apps that are compatible with the current patterns and trends.
Tagline: Professional Software Development
Another firm that holds a prominent name in the software development field is “Science Soft.” This firm was founded in 1989 and has 33 years of experience in this field. They are a team of 300 + employees who know how to perform their job well.
Their software development solutions are applicable to 30+ industries, such as healthcare, banking, manufacturing, retail, real estate, ecommerce, telecommunications, etc.
The company follows a streamlined process when it comes to project completion. Their development process includes complete research, planning, analysis, designing, development, testing, launch, and maintenance.
Why Choose for Blockchain Healthcare App Development?
Blockchain healthcare app development provides a bunch of benefits. These are for the patients, doctors, and businesses that are dealing with healthcare services. The developed decentralized platform is used for recording medical records.
Below are some of the main reasons that show why blockchain hospital app development is necessary.
- Traceability: The traceability of the drug at every point is known through this fabulous technology.
- Data Management: The patient’s medical history is stored safely and managed with utmost care.
- Digital Authentication: Blockchain-based identities allow users to share a specific part of the information, not the whole identity.
- 360-Degree Accessibility: The accessibility to information is available at all times and to all the network members.
- Private Key Cryptography: It authenticates the transactions by successfully encrypting and decrypting the data.
What is the Cost of Building a Blockchain Medical Management app/platform?
The cost of developing a blockchain telehealth app or platform depends on the client’s requirements. It entirely depends upon the following parameters;
- Integrated features
- Cutting-edge technologies,
- Project complexity,
- Tech-stacks used
- Location of the development company
Best FAQ for Telehealth Services
1.How Is Blockchain Transforming Healthcare?
Blockchain is transforming healthcare by providing a secure, resilient, and transparent platform that streamlines the sharing of sensitive medical records. Not only does it give patients the power to access and modify their health data at any time, but it also increases the privacy and security of data by eliminating the risk of unauthorized access.
2.Which Blockchain Is Best For Healthcare?
The best blockchain for healthcare is Ethereum. It has the right balance of scalability, data privacy, speed, and support for smart contracts. Additionally, its Solidity programming language makes it easy to customize blockchain solutions to fit your needs.
3.What Is The Future Of Blockchain Tech In Medical?
Blockchain technology has the potential to revolutionize digital healthcare by providing a secure, decentralized platform for medical records. It will give patients complete control over their health data while also streamlining processes for medical professionals.
4.Which Type Of Blockchain Is Used In The Medical System?
As healthcare data is highly sensitive, blockchain technology in medical industries protects it efficiently. It ensures that all parties involved have permission to access the data and keeps it secure from unwanted access. Only authorized users are allowed to access the medical records. It also allows for high privacy and security, as each transaction is encrypted.
5.What Problems Can Blockchain Solve In Healthcare?
Blockchain has the potential to reduce errors and administrative tasks, increase patient data access, enable direct payments between patients and providers, facilitate interoperability of medical records, and support more secure healthcare data sharing. There are various ways blockchain can secure health data in a transparent way without the risk of data tampering or loss.
6.Which Pharma Companies Use Blockchain?
Pharma companies like Sanofi, Amgen, and Pfizer use blockchain technology for healthcare solutions.
7.What Is The Role Of Blockchain In Medical Health Care?
Blockchain technology can revolutionize the healthcare industry by providing a secure, transparent, and efficient platform for managing health data. It allows for better collaboration between medical professionals and patients while giving patients complete control over their personal health data.
8.Which Is The Best Blockchain Solution Provider?
Suffescom, Abto Software, and Q3 Technologies are some of the best blockchain solution providers. There are several other blockchain companies listed above which provide top-notch blockchain solutions.