By 2020, 1-in-5 healthcare orgs will adopt blockchain; here’s why

LUCAS MEARIAN | August 6, 2018

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While the financial services and shipping industries have been quick to deploy blockchain, the healthcare industry could soon follow their lead as it looks to increase efficiency and security, reduce costs and expand services with the distributed ledger technology. In essence, blockchain could help reshape healthcare interoperability by serving as a next-generation middleware that couples health data with decentralized, distributed, and immutable qualities, according to a new report by IDC Health Insights.As a result, by 2020, 20% of healthcare organizations will have moved beyond pilot projects and be "using blockchain for operations management and patient identity," the report said. Blockchain's interoperability could underpin data exchange, serving as an alternative to today's health information exchanges (HIEs); essentially, it would act as a mesh network for transmitting secure, near real-time patient data for healthcare providers, pharmacies, insurance payers and clinical researchers, according to IDC.

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