Healthcare companies have been investing heavily in digital transformation. Adoption of digital technologies has allowed them to offer personalized care to patients. It has also helped them provide care through new formats such as telemedicine.

The transition from paper-based records to digital databases has been necessitated by the explosion in the amount of data available. Electronic health records (EHRs), electronic medical records (EMRs), and digital registers, among others, have been used to store data. EHRs were not designed to store multi-institutional information and, as a result, the data storages are in silos and fragmented.

The healthcare industry in the US is experiencing a shift which entails that a patient’s medical records be available in order to provide comprehensive care. The abundance of personal and health data, coupled with lax security measures, has been exploited by hackers recently.

The answer to the security concerns could lie in blockchain: a distributed system of chronologically and cryptographically saved ledger that is unchangeable. Blockchain as a solution is perfect for high-security record keeping. It provides security, interoperability, care management and case management, and refurbish healthcare payments with the use of “smart contracts.” Blockchain-enabled solutions could also help spread the use of the Internet of Things (IoT) in healthcare.

HCL’s Blockchain Labs offer solutions to the healthcare industry and ensure they thrive in an ever-changing landscape.