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Blockchain's Impact in Securing Medicine

Blockchain & The Future Of Medicine Data breaches are increasing in frequency and cost across the globe, posing serious threats to the healthcare industry Impact Of Medical Data Breaches Data breaches Data breaches cost Costs incurred following a breach increase a hospital's 30-day mortality rate $429 on average $6.5 MILLION per patient record 67% 22% 11% During the first year After second year In the following уears Cost is directly related to: Legal, technical, and regulatory functions Lost business caused by Patient Breach detection Downtime Reputational damage Loss of notifications and response consumer trust Complexity of criminal cyberattack resolution Duration of consequences Small-to medium-sized healthcare organizations spend 5% of annual revenue, or $2.5 million, to recover The healthcare industry has unique security vulnerabilities that make it a lucrative target for hackers Security Vulnerabilities In Healthcare Coe 2048 Patlent overview OLD MEDICAL DEVICES are made by companies no longer in business Request rew iter OLD SOFTWARE has gaping security holes IMPLANTED, INTER-CONNECTED DEVICES are hackable HUMAN ERRORS increase risk of breach HOSPITALS ARE UNAWARE of which systems run on the devices they use HOSPITALS FOCUS ON PROTECTING PATIENT PRIVACY, rather than cybersecurity ORGANIZATIONS LACK full-time cybersecurity employees PROVIDERS LACK awareness and resources UNPATCHABLE DEVICES AND LACK OF FUNDS to update equipment may force hospitals to use vulnerable devices TENSION between cybersecurity experts and doctors Cybersecurity experts create a patch, but doctors don't install the update Physicians believe cybersecurity experts have an exaggerated response to threats that cause delays in treatment BLOCK a distributed ledger for recording transactions and tracking CHAIN assets has many promising applications in healthcare Blockchain Applications • Wearables and Remote Monitoring Benefits of blockchain- powered wearables: Devices may monitor: By incorporating blockchain: Every wearable is linked to a patient hub containing all patient health records Blood pressure Reduced complexity and cost Reduced errors Pulse Health professionals have access to real-time patient data Enhanced security Sleep apnea Patients may receive highly-precise and personalized care Proven resilience Narcolepsy Shared trust transactions Access to patient data will prepare paramedics to accurately treat a patient when they arrive on the scene Epileptic seizures Creation of an audit trail Diabetes Enhanced transparency • Telehealth Risks of Telehealth: By incorporating blockchain: Benefits of blockchain- powered telehealth: Seamless exchange of data Stem from lack of security controls over the collection, use, and sharing of data Medical records are stored in secure, fragmented systems Increased consumer confidence in the system Sensitive data may be shared with advertisers and other third parties Both the patient and provider have a copy of the ledger Providers have access to a more complete patient history • Gamification Gamification strengthens focus, orients patients towards their goals, and creates learning opportunities Patients are rewarded with cryptocurrency tokens for healthy behaviors, such as: Attending doctor's appointments Completing surveys Benefits: Improved health outcomes for patients Taking medication Minimized losses for healthcare providers Following doctor's orders Many established and startup companies are exploring opportunities to improve services and transactions in healthcare using blockchain Use of non-fungible tokens to secure individual's health record could increase security, Health Dafa NFIS preventing instances of identity theft and fraud Benefits: Patients gain more control of their data Potential profit from sharing data with 3rd parties Providers could be sure the data is genuine Companies Exploring Blockchain In Healthcare CHRONICLED O Curisium H Created the MediLedger Network Uses blockchain to offer a platform for A secure & A decentralized Rebate Contract peer-to-peer messaging network blockchain network negotiation management Enables providers and payers to participate in innovative contracting arrangements to bridge the gap between trading partners that are both efficient and secure Business rule enforcement Benefits: Privacy first design Recent acquisition by healthverity Secure real-time messaging led to increased customization and seamless automation of workflows Access to industry master data EVER patientoryinc. Ever Medical Technologies Blockchain-built platform offers Offers </> Integrated but modular suite of software Patient-centric applications and services with the following features: with the following features: Secured and trustless data exchanges Up-to-date patient histories and data Benefits: Benefits: Big data collection and analysis Pandemic tracking and reporting Machine learning- and artificial intelligence-powered tools and features Secure communication with verified healthcare personnel Organizations that recognize the power of blockchain and begin to explore ways to incorporate it into daily processes WILL SET THEMSELVES FOR A MORE SECURE FUTURE Can health on the blockchain become a game changer? Sources: Presented by: DEVELOPED BY N NOWSOURCING

Blockchain's Impact in Securing Medicine

shared by NowSourcing on Jan 28
Data breaches are more prevalent than ever before and a medical breech would be costly. Blockchain is here to help.




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