This report provides a comprehensive outlook and analysis of blockchain technologies used to improve the healthcare industry. It explores different scenarios, solutions, and new approaches that could have a big impact on healthcare.
The Big Picture
You have probably heard that the digital health market is booming. In the U.S. alone, companies raised $7.4 billion in 2019, according to Rock Health. The same source has found that $3.1 billion was invested in the first quarter of 2020 - before the COVID-19 pandemic.
And it's not just an American thing only. Another source, StartUp Health, claims that a total of $13.7 billion was invested in digital health companies across the world in 2019. They have also summed up all the investments since 2010 - and have found that, so far, a whopping $70 billion was invested in this sector!
Add the coronavirus pandemic to the mix and you get a market that is steaming hot with companies both big and small fighting for their piece of the ever-growing pie.
The goal is to provide you with useful information so that you too could participate and compete. Whether you want to start brand new or grow an existing digital health business, this report could help you.
Blockchain is one of those buzz words you can hardly miss in the media these days. Yes, it was propelled to the public imagination with the rise of Bitcoin and other cryptocurrencies, but the technology can have many other uses cases beyond moving money from one side of the planet to the other.
In fact, it is now in the minds of many tech giants and even governments which can clearly see blockchain's power to transform how businesses operate by decentralizing business models, creating more efficient processes, and providing a more secure and reliable way to exchange data.
The healthcare industry is one of the sectors where blockchain can really prove its worth. For one thing, it can reduce the liability and accuracy concerns related to the exchange of medical data, while providing cryptographic security to protect patient identity "out of the box." Eventually, every patient will have its own "data wallet" to store and manage his/her medical records, and provide third parties with access to that data when needed.
Beyond health records, the technology could also be used to automate many administrative tasks in healthcare, thus removing human errors in areas such as payment processing and claim adjudication, which in turn could lead to improved accuracy and reduced costs.
Another use case for blockchain is in supply chain management, where a decentralized network could help medical suppliers and pharmaceutical companies better track how their products are moving from the production facilities around the world to a local pharmacy and to the patient.
And that's just a start... In this research brief, the analyst takes a look at some of the use cases for blockchain in the healthcare space. As the possibilities of and interest in the technology grow, more companies will be jumping on the bandwagon, creating even better solutions some of which we may not be able to imagine today.
All it Takes is a Single Idea
You can hardly remove yourself from the digital health revolution. Whether you're a health professional, software developer, advocate, or a government employee -- this emerging trend is hard to miss. Heck, at some point, all of us will experience (and benefit from) digitized healthcare as patients.
The report will help you get to know the market. You'll learn about specific segments of the digital health market, new and emerging technologies, who the main players are, and more.
All it takes is a single idea to help you:
- Find a new partner
- Get a new client
- Start a new project or company
- Get a new (better) job
Is this the Report for you?
The report is made for today's busy people; let us mention the three big groups:
You probably already know Big Pharma is investing millions in digital health technologies. After all, it is easier and more affordable to launch a digital therapeutic than develop a brand new drug with all the lab work and trials, let alone regulatory requirements, that come included with a brand new drug launch.
Digital health apps and services provide insurance companies and other payors with tools they could offer to their customers so they could lead healthier lives. As a result, payors get to save money and offer better, more personalized services -- i.e. the more you walk every day, the lower premium you end up paying. Ultimately, such incentives also lead to better outcomes.
With the growth of digital health, many non-traditional players have been entering the space -- software developers being one of them. They see there's money to be made by helping doctors and hospitals digitize their businesses while providing patients with that much better services. In that sense, the report helps software developers find their niches in the market and even potential partners.
And that's not all.
The report will help other parties, including (but not limited to):
- Investors in the (digital) healthcare or those looking to enter the space
- Contract Research Organizations (CROs)
- Healthcare business analysts
- Savvy physicians looking to familiarize themselves with modern technologies
- Government-employed healthcare professionals
- The NGO sector involved in the healthcare space
As well as for everyone else looking to advance his/her career by being ahead of the curve.
About this research brief
- What is Blockchain?
- How Blockchain Works?
- Public & Private Blockchains
- Side Chains, Child Chains, On-Chain and Off-Chain Data
- Business Use Cases for Blockchain
- Blockchain Glossary
- Blockchain and GDPR
Blockchain & Healthcare
- Supply Chain
- Health Records and Interoperability
- Patient Matching
- Patient Engagement
- Care Coordination
- Insurance Claims Processing
- Medical Billing
- Clinical Trials
- Fighting the Opioid Epidemic
- Research & Development
- And more...
Projects & Initiatives
- IBM Working With the FDA, CDC to Study the Use of Blockchain to Improve Public Health
- Healthcare Giants Testing a Blockchain-Based System to Tackle Care Provider Data Issues
- Mount Sinai Has a Center for Biomedical Blockchain Research
- Nokia Testing Blockchain For Sharing Personal Health Data Via Wearable Smartwatch
- BlackBerry Working with ONEBIO to Create a Blockchain-Based Ecosystem for Medical Data
- MediBloc, Massachusetts General Hospital Collaborate on Blockchain- and AI-based Initiatives
- UNODC, Doc.com Team-up to Launch Blockchain-Based Telemedicine and Telepsychology in East Africa
- Aetna, Anthem, HCSC, PNC Bank and IBM to Establish a Blockchain-Based Ecosystem for the Healthcare Industry
- MetLife Testing New Blockchain Health Insurance Product That Eliminates Claims
- Bitfury, Longenesis, and MDW To Create a Next-Gen Platform for Medical Imaging and Diagnostics Data
- ConnectedLife, Ocean Protocol Team-Up to Combat Parkinson’s Disease
- Healthcare Payments Network InstaMed Looking to Leverage Blockchain for Providers, Payers, and Consumers
- Armenia Partners with WHISE-Embleema to Modernize Digital Healthcare Through Blockchain
- UAE Health Ministry Launches Blockchain-based Platform for Medical Data
- Insurance Service Providers in China Rely on Blockchain to Fast Track Claims Payout Amid Coronavirus Outbreak
List of Companies
- AHA Health
- Block Verify
- BowHead Health
- Change Healthcare
- Clinical Blockchain
- Coral Health
- GYM Rewards
- Hashed Health
- Health Linkages
- Health Wizz
- HIT Foundation
- Hypertrust X-Chain
- Kalibrate Blockchain
- Lancor Scientific
- Medable Insight
- Nebula Genomics
- Ocean Protocol
- Open Health Network
- Opu Labs
- Peer Ledger
- Proof Work
- SimplyVital Health
- Snark Health
- Sober Network
- The LinkLab
- Witty Health