The introduction of web3 has redefined the ways providers and customers interact in both the digital and physical world across many industries. The healthcare industry is no exception to this, so let’s look at some key ways that web3 technologies are changing the healthcare industry for better patient experiences . . .
When it comes to healthcare, most people have multiple doctors and facilities that they count on to keep their data secure and store their records. Further, most patients do not have direct access to their healthcare records and have to go through healthcare professionals to obtain their records. This can be both frustrating and time-consuming for the patient.
“With Web 3.0, patients’ data can be stored on the blockchain using smart contracts” says a Med-Tech article, ”Any healthcare professional that needs to work with the patient can easily access the data by obtaining a public key or unique ID, eliminating the need for institutionalized data silos fenced off from the patient. In addition, this relieves hospital administrations of information overload due to the management of thousands of patient records.”
Web3 paves the way to accessible, efficient, and patient-centered healthcare. It introduces blockchain technology, which allows patients to have more ownership and control over their health data. Patients can also seamlessly share data with healthcare providers, reducing redundant tests and streamlining care. It enables the healthcare system to be patient-centric while also decentralizing data by transferring ownership to individuals.
“95% of identity theft comes from stolen healthcare records,” according to an article by techjury. This statistic is shocking to hear considering an individual is more likely than not to have given their personal information at some point and time to a medical facility. It calls attention to the need to move away from the centralized storage system that most healthcare industry vastly relies on and move towards decentralization.
Blockchain is at the core of web3 and this enables healthcare professionals to store patient securely with immutable digital ledger technology. The healthcare data records are distributed over nodes, so an attacker would need access to each node in the network to hack, alter or delete the data, which is nearly impossible. Moreover, accessing the data needs the patients’ permission. Due to blockchain’s peer-to-peer consensus for changes, tampering with the data is also nearly impossible. This allows healthcare providers to store sensitive information securely with less fear of data breaches.
Blockchain’s immutable ledger also ensures the authenticity and integrity of medical records. Patients can trust that their health data has not been tampered with. This transparency fosters trust between patients and healthcare providers, enhancing peace of mind.
Telemedicine and Web3
Telehealth has been on the rise since 2020. According to Telehealth.gov, “Telemedicine, or telehealth, essentially lets your health care provider care for you without an in-person office visit. Telehealth is done primarily online with internet access on your computer, tablet, or smartphone.” Since the COVID19 pandemic, telehealth has jumped in both the volume of technology solutions and applications across medical fields.
Web3 technologies enable decentralized and secure data networks. Patients have more control over their data and therefore are more confident to share it online with medical professionals. With such convenience, security, and connectivity, the future of telemedicine looks bright!
ZorroSign is proud to be on the forefront of deploying web3 technologies—such as AI and blockchain—to improve patient experience in the healthcare industry with our data security platform built on blockchain. To learn how ZorroSign can supports healthcare by facilitating and securing the exchange of digital data, visit our Healthcare industry page or contact us today!