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Blockchain is the technology behind Bitcoin, as well as countless other cryptocurrencies that have been the center of much attention in the investment world lately. \u00a0Many argue that the cryptocurrency craze is just the next bubble that is bound to burst. Regardless of which blockchain-backed currencies come out as winners or losers though, the technology \u2013 just like the Internet \u2013 will endure. \u00a0Blockchain has the potential to revolutionize many industries. \u00a0In healthcare, blockchain promises to solve two fundamental puzzles. \u00a0Understanding how can help guide professionals to invest their resources prudently, while preparing for the impending technological revolution.<\/p>\n
When the US government pushed to make patient health information digital, there was tremendous pressure put on healthcare providers to adopt electronic health records (EHRs). \u00a0Unfortunately, the need to comply with myriad requirements took priority over the fundamental goal of EHRs \u2013 interoperability.<\/p>\n
Countless EHR companies pressured providers to enter into contracts that restricted \u201cownership\u201d of the data. \u00a0Many others simply sold systems that could not communicate with each other. \u00a0\u00a0Circumventing these barriers is possible, but often resource-intensive. \u00a0For example, an \u201cHL-7\u201d can be built to facilitate data transfer from one EHR system to another. \u00a0However, a new HL-7 must be built for each discrete system to communicate with each other discrete system.<\/p>\n
And even though technological solutions exist to facilitate the transfer of healthcare data, controlling and monitoring the flow of the endless data in a universal, HIPAA-compliant way presents a problem or a \u201cuse case\u201d that blockchain technology can solve.<\/p>\n
Blockchain contains a decentralized, immutable ledger that can have built-in \u201cpermissioned\u201d access via smart contracts. \u00a0The technology can ensure that patient data is shared responsibly thanks to digital gatekeepers (\u201cuser nodes\u201d). \u00a0It can also manage and track where the data goes to prevent \u2013 or create accountability for \u2013\u00a0inappropriate sharing. \u00a0This is made possible by the immutable ledger, which prevents parties from editing the transaction history \u2013 allowing accountable data-sharing.<\/p>\n
A common misnomer about blockchain technology is that the blockchain itself can efficiently store and share data. \u00a0It cannot. \u00a0What blockchain can do though, is serve the function of permitting the exchange of data when appropriate, and tracking those who access it.<\/p>\n
(Note: Emerging decentralized data systems, such as distributed hash tables (DHTs) can store data.)<\/p>\n
Due to non-communicative systems and an opaque reimbursement system, providers struggle to obtain actionable intelligence in \u201creal time.\u201d \u00a0Indeed, even provider groups that participate in \u201cvalue-based care\u201d programs heavily focused on coordinating efficient care can wait months before receiving data on their own patients\u2019 healthcare utilization.<\/p>\n
Existing technology can once again solve the problem of this data lag, but either in an unsecure or exceedingly expensive way. By incorporating blockchain technology and its permissioned system, data can flow freely, yet only to those legally entitled to use the information for the purpose intended. Blockchain brings transparency and accountability to data exchange through its audit trail.<\/p>\n
Healthcare organizations should embrace blockchain technology, but current practical and regulatory challenges warrant a strategic approach.\u00a0 Savvy organizations have already begun building infrastructure to position themselves at the center of the \u201cdecentralized\u201d ecosystem of health information.<\/p>\n
Unlike EHRs, which need HL-7s to communicate between them, organizations can build master data portals that obviate the need for added and expensive data \u201ctranslators.\u201d \u00a0Thanks to the permissioned system that blockchain can support, the data can run on a universal language accessible to anyone who has a well-justified reason to view it.<\/p>\n
Healthcare entities that possess the vision to see how blockchain technology can transform healthcare, and the leadership to adapt, can stay ahead of this highly-disruptive technology. While blockchain\u2019s full potential will be unleashed over time, steps can be taken today to prepare.<\/p>\n
Brian S. Kern, JD, is the Founder of Toro Risk Consulting Group, LLC. \u00a0He is also on the Advisory Counsel of SimplyVital Health, a bundled payment analytics company built using blockchain technology. \u00a0\u00a0His contact information is listed below.<\/em><\/p>\n Lucas P. Hendren, Software Engineer at Verily Life Sciences. \u00a0He is also an Advisor of Bitclave.<\/em><\/p>\n Brian S. Kern, Esq., Partner, Acadia Professional.\u00a0<\/i><\/b><\/p>\n bkern@acadia.pro<\/i><\/b><\/a> | View Bio<\/a><\/i><\/b><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Footer” _builder_version=”4.11.1″ background_color=”gcid-5ca81056-cbbc-4343-b15a-aa9b6f661d19″ use_background_color_gradient=”on” background_color_gradient_start=”rgba(83,104,158,0.92)” background_color_gradient_end=”rgba(33,50,94,0.86)” background_color_gradient_type=”radial” background_color_gradient_direction_radial=”top left” background_color_gradient_start_position=”25%” background_color_gradient_end_position=”70%” background_color_gradient_overlays_image=”on” background_image=”https:\/\/acadia.pro\/wp-content\/uploads\/2021\/08\/church-01.jpg” background_blend=”multiply” max_width=”100%” module_alignment=”center” custom_margin=”||||false|false” custom_padding=”100px|0px|100px|0px|true|false” animation_style=”slide” animation_direction=”bottom” animation_intensity_slide=”2%” box_shadow_style=”preset1″ box_shadow_vertical=”-10px” box_shadow_blur=”60px” global_module=”301″ saved_tabs=”all” global_colors_info=”{%22gcid-5ca81056-cbbc-4343-b15a-aa9b6f661d19%22:%91%22background_color%22%93}”][et_pb_row column_structure=”1_4,1_4,1_4,1_4″ disabled_on=”on|off|off” _builder_version=”4.11.1″ custom_padding=”27px|0px|25px|0px|false|false” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.11.1″ text_font=”||||||||” link_font=”||||||||” link_text_color=”#a0beef” link_font_size=”16px” link_line_height=”2em” header_font=”||||||||” header_4_font=”|700|||||||” header_4_line_height=”1.5em” background_layout=”dark” global_colors_info=”{}” link_text_color__hover=”#ffffff”]<\/p>\n What We Do<\/a> [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.11.1″ text_font=”||||||||” link_font=”||||||||” link_text_color=”#a0beef” link_font_size=”16px” link_line_height=”2em” header_font=”||||||||” header_4_font=”|700|||||||” header_4_line_height=”1.5em” background_layout=”dark” locked=”off” global_colors_info=”{}” link_text_color__hover=”#ffffff”]<\/p>\n Press Releases<\/a> [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.11.1″ text_font=”||||||||” link_font=”||||||||” link_text_color=”#a0beef” link_font_size=”16px” link_line_height=”2em” header_font=”||||||||” header_4_font=”|700|||||||” header_4_line_height=”1.5em” background_layout=”dark” locked=”off” global_colors_info=”{}” link_text_color__hover=”#ffffff”]<\/p>\n Articles<\/a> [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.11.1″ text_font=”||||||||” link_font=”||||||||” link_text_color=”#a0beef” link_font_size=”16px” link_line_height=”2em” header_font=”||||||||” header_4_font=”|700|||||||” header_4_line_height=”1.5em” background_layout=”dark” locked=”off” global_colors_info=”{}” link_text_color__hover=”#ffffff”]<\/p>\n Contact Us<\/a> [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”3.25″ global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_contact_form email=”nic@themg.co” title=”Get In Touch” custom_message=”%%Name%%||et_pb_line_break_holder||%%Email%%||et_pb_line_break_holder||%%PhoneNumber%%||et_pb_line_break_holder||%%Message%%” success_message=”Thank you! 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