The constant need to evolve is inevitable for businesses. It’s essential to ensure maximum benefit in every phase of the constantly changing economy. Talking of change, the major transition driving the economy today is the shift from centralization to decentralization. Or, in other words, embracing blockchain.
The healthcare sector takes the top spot among many industries exploring the potential of decentralization. The healthcare sector generated revenue of approx $7500 billion in 2022. It’s a clear indication that the demand will never slow down. Despite the loopholes in the healthcare system today, there’s scope for improvement to make care more personalized, convenient and efficient. This calls for innovation. Decentralization fills this gap perfectly.
From data management to providing an accurate diagnosis, a decentralized healthcare business holds the potential to make each level of operation more transparent and secure for both the staff and the patients.
So how do you start a decentralized healthcare business in 2023? Let’s take you through a step-by-step process.
Have an idea to scale your business? Suffescom Solutions can help you build your decentralized healthcare platform. With a team of blockchain experts, we have the expertise to work on every requirement of your project and deliver a rewarding output. Talk to our experts today to discuss your project.
As the name suggests, a decentralized healthcare system eliminates single-party control and distributes the power across all users. A decentralized healthcare system is built on the emerging blockchain technology characterized by decentralization. Consequently, such healthcare systems have a patient-centric model with an accountability system based on smart contracts.
The essence of a decentralized healthcare system lies in blockchain technology. The entire purpose of moving healthcare systems to blockchains is to improve the overall management and functioning of the system.
There’s no lying that the healthcare system reached a breaking point with COVID-19 and is still recovering from the blow. Blockchain can help lower the pressure in most areas of operation and bring about efficiency, security and better management. It offers better encryption techniques, cost-effective operations, immutable record-keeping and more. Despite the advantages it brings, the use of blockchain technology in healthcare is still underwhelming.
But are you ready to make the change? Do you have the inclination to embrace blockchain technology? Suffescom can help you out. Have a free consultation with our experts today and begin the transformation.
Building a decentralized healthcare business is similar to building a centralized one. However, some key aspects require special attention to ensure that you start on the right foot.
A decentralized healthcare platform has multiple use cases. But, to complete the development process successfully, it’s essential to map out the task requirements.
For instance, if your priority is to better record management, the technologies and design of your decentralized platform will be different than what is required for telehealth appointments.
Blockchain technology in healthcare is primarily used for the automation of processes, better management of patient and staff records, identification and verification and higher protection of confidential data. Listing out the details helps professionals better understand your project during consultation.
Decentralized healthcare platform development can cost anywhere from $40,000 to upwards of $300,000. It all depends on what you need to be included in the final product. For instance, the kind of blockchain network used, the type of digital wallet, the complexity of customizations, etc., will affect the final cost.
For this reason, it’s best to figure out the cost your organization is ready to spend on a decentralized healthcare platform. You can contact the company you decide to work with to get a cost estimation.
With Suffescom, you can have a free consultation with our experts, discuss your project requirements and get an estimation to see if it falls within your budget.
Decentralized healthcare platform development requires expert skills. Only a Blockchain development company with experienced blockchain developers, designers, testers and managers can plan out the process and build a decentralized healthcare platform. In addition to this, you must take care of a few points -
You can check reliable websites like Clutch and GoodFirms to shortlist companies that best suit your requirements.
To finalize the partnership, you must have a detailed discussion with the team and align your ideas. Companies offer a quick consultation, often free of charge, to understand your project requirements. The team will create a rough action plan and evaluate everything to give you a general cost estimation. This will help you know the direction you must take to move forward.
The more complex your requirements are, the more advanced the tech stack is. These fundamental elements form the framework of your decentralized healthcare platform. Defining the tech stack is important to determine the cost and align it with the function and level of performance you need.
You can build your platform on a public blockchain like Ethereum and TRON or a private blockchain like Hyperledger. The difference is that while the former is more transparent, the latter offers maximum security for confidential data.
Moving forward, you must determine other aspects such as the programming language, data management system, DevOps, cloud platform, payment gateways, etc. The team will guide you through each step.
The visuals of your decentralized healthcare business platform are just as important as the backend. If the user cannot easily navigate through your platform, you will not be able to retain patients. Ultimately, it will defeat the purpose of integrating blockchain for efficiency and convenience.
For this reason, it is imperative to check every point of user interaction, identify weaknesses and optimize it accordingly. It’s essential to maintain a user flow and intuitive and responsive design.
Testing is an indispensable step of the development process. It involves a systematic evaluation of every functional component of the product. All inconsistencies are identified and worked on.
You can also build an MVP of the core features of your product. This way, valuable feedback on the functionality and performance of your product can be gathered from the target audience.
Your decentralized healthcare platform will be launched and deployed once it is optimized and clears the testing process. The team will launch the product at your preferred platform and time. The team will also do further testing to ensure there are no performance issues and that everything goes smoothly during and after deployment.
The job doesn’t end with the deployment of the platform. As the technology grows and the workload at your organization increases, the requirement from the platform will also increase. This is why it is important to maintain and update the framework whenever necessary.
Additionally, you must scale the blockchain network to present a more efficient performance. Horizontal or vertical scaling, whatever may be your approach, doing it at the right time to match the workload and number of users will significantly improve the performance of your platform.
Before you begin your decentralized healthcare system, understand what you can get by making the change. Some of the noteworthy benefits of a decentralized healthcare platform are as follows:
The use cases of blockchain in healthcare go beyond the points discussed above. The only true way to find the best use of a decentralized healthcare platform is by building one for your organization.
Read More: Decentralized Hospital Management Software | Defining A Decentralized HMS
EncrypGen is a blockchain-based platform with a GeneChain used to search, share, store and sell genetic information. All the operations are done by DNA tokens which maintain high data security and transparency.
BurstIQ uses blockchain technology to safely keep and share information about a patient’s health and healthcare activities. This way, it monitors patients easily and promotes efficient management and care.
Nebula Genomics uses blockchain-based DNA sequencing, where users can privately send their genetic information. Through blockchain, transactions can be done pseudo-anonymously in crypto and users can purchase genome sequencing without revealing private information.
MedicalChain employs blockchain to manage patient data. It allows patients to create a single, comprehensive version of their data which further helps hospitals and laboratories request information easily.
Coral Health manages administrative processes and connects healthcare professionals more quickly and conveniently. This step enhances performance and delivers quality health output.
Contact us now to begin!
Suffescom Solutions has worked in the blockchain industry for more than 5.5 years. Having developed multiple platforms, the company has proficiency in delivering industry-leading blockchain healthcare app development services.
Here are the reasons why you should choose Suffescom for Decentralized Healthcare Platform Development:
We have a team specializing in multiple private and public blockchains such as Solana, Hyperledger, Ethereum, Binance, etc.
Every project is delivered after it clears our rigorous testing process. We conduct multiple-level tests at the in-house and external levels.
Suffescom’s services have garnered global recognition. It has a rating of 4.8 on Clutch and 5/5 on GoodFirms.
We take pride in delivering the products on time. Our experience helps us provide solutions for any challenge without any delays.
Call our team of experts and have a free consultation. Discuss your requirements and get a cost estimation of your project.
Our customer support executives are available 24x7 to help you get solutions to your queries. Reach out via chat, email or call.
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