Despite Blockchain’s potential in healthcare, trust remains an issue

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The survey––which focused on the rise of these technologies, how healthcare companies can benefit from them and ways to prepare to implement blockchain into organizations––included responses from 74 global healthcare companies.

Their responses revealed there’s still a lack of trust about using blockchain, despite many already implementing the technology.  

The study identified six healthcare processes that could benefit from blockchain:

  • supply and chain inventory management
  • enrollment and provider data management 
  • back office functions and payments 
  • data collection, exchange and management
  • risk and regulatory processes
  • research and development

While the technology has a lot of potential, there are several barriers in the way––and companies need to adapt quickly as blockchain projects become more widespread.

“Companies should be prepared to identify where blockchain could improve their operations and interactions with trusted partners. Paradoxically, while use of blockchain may ultimately increase trust among industry partners and competitors alike, a lack of trust may prove to be one of blockchain’s biggest challenges,” the study said.

“Because blockchain projects are undergoing research and development, companies have just a few years before blockchain-based partnerships and programs begin to come into use. This means they have precious little time to plan, adjust and adapt.”



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