Blockchain in healthcare: Manage your healthcare supply chain

By Suffescom Solutions

December 01, 2022

Blockchain in healthcare: Manage your healthcare supply chain

Blockchain healthcare supply chain development! Simplify supply chain management with Suffescom!

Blockchain technology has traversed a long way to make an impression in this technological era. Slowly and steadily, it is gaining the popularity it deserves on behalf of its great potential for various fields. 

You might have heard enough of blockchain in ecommerce, finance, real estate, etc., but this informative article is about blockchain in healthcare. Yes, you heard it right!

Traditionally, healthcare systems are a little complex and possess challenges in maintaining their supply chain. The complex supply chain is due to the fact that it involves several middlemen in the process, which results in inefficient tracking of medical supplies and increased human error. Thus, to address these issues and manage the supplies in a cost-effective manner, blockchain technology comes forward.

Suffescom Solutions Inc. thoroughly understands how effective it would be if blockchain enters healthcare, thus leveraging its expertise in building solutions to transform the complete healthcare system.

Let’s lift up the curtains…

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What is blockchain?

Blockchain is a digital ledger system that enables peer-to-peer transactions, keeps proper track records, and maintains all transaction data. Blockchain is a distributed technology that uses cryptographic techniques to allow every network user to store and exchange information without any consent of the central authority. 

All the participants involved in the network are eligible to view and make transactions which further allows trustless collaboration among each other. The information once stored in the blockchain, cannot be re-written or altered. Blockchain is also decentralized, making it a highly secure and robust system.

Interesting Facts About Blockchain

Blockchain is immutable and safe.

It is a decentralized peer-to-peer (P2P) network of nodes.

The nodes maintain, store, and record historical or transaction data.

It keeps constant track of past and current transactions.

The data is never stored in a single location in the blockchain.

Data is spread over the blockchain via a network of computer copies.

Read more: Unlock The Potential With Modern Blockchain Development Solutions

Blockchain in Healthcare Supply chain

When our experts speak of blockchain in the healthcare supply chain, they are more specific to the industry. Blockchain, being decentralized, is highly advantageous in facilitating health records and maintaining patient care by saving the time and resources required to do so. All the information related to patient care and medical supplies is stored in the blockchain that is visible to all the network users.

 As mentioned above, keeping track of healthcare products is quite tough and complex; however, with our blockchain-powered solutions, all the challenges related to the supply chain may diminish within a matter of time. It would become easy to manage inventories through blockchain.

Contact Suffescom to incorporate blockchain into your healthcare business!

Advantages of blockchain in healthcare supply chain

 There are endless opportunities for blockchain in healthcare. Have a look at how our blockchain services in healthcare can ease your supply chain operations.

Lower the chances of human errors

By implementing our blockchain services, it becomes easy to determine the location of medical supplies. Traditionally, this involves numerous steps, but with blockchain, it is sorted out in a single step. You can easily locate your supplies without any involvement of humans. No requirement of individuals means no human errors and no human errors depict higher efficiency of the operations.

Reduced costs by eliminating middlemen

Originally, to carry out the successful transportation of medical shipments, freight brokers/medical suppliers were required to facilitate the medical supplies. These brokers or suppliers charge huge amounts of a sum. However, by incorporating our blockchain services, the role of brokers/ suppliers is eliminated, which means cutting the cost of middlemen.

Instead of the supplier or broker, buyers of the medical devices or supplies go directly to the distributor, making the whole process transparent. Hence, the transactions would take place more openly in the blockchain. 

Improved transparency

In healthcare, the blood donation process is quite trickier. We ensure that blockchain technology can assist in carrying out a safe blood donation procedure. Our blockchain services enable successful tracking of the blood, which will ultimately result in minimizing discarded donations. In this way, it will help in allocating blood donations to the right person at the right time.

In addition to this, we will also ensure that the donor's information would also be provided, making it easy to identify the type of blood and any medical history of the donor. Donors will also get notifications whenever their blood is used.

Infused with smart contracts

Blockchain technology works on smart contracts, which are a set of rules and regulations that make the two parties accountable and increase the trust level between them. Our team is highly efficient at creating smart contracts to maintain contract compliance. With our smart contracts, healthcare organizations can reliably buy supplies from other parties. 

Looking after the huge potential of blockchain in the healthcare supply chain, healthcare organizations may opt for blockchain to transform how their businesses operate. Contact Suffescom Solutions to transform your business in the blockchain.

The technology stack we use

The development of any software or application in blockchain requires some set of tools and technologies to build a flawless and highly interactive app for various organizations. We use the latest tech stack to build a blockchain-based healthcare supply chain. 

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Some of the latest tech stacks involved are: 

  • Ethereum
  • Solidity
  • NodeJS
  • PHP
  • Laravel framework
  • MEAN
  • MERN stack

Application of blockchain in Healthcare

Below listed are a few applications associated with blockchain in healthcare. 

Store patient information

Blockchain assists in storing a wide range of information about every patient. There is no limitation in storing data of each and every patient; it covers every personal detail like name, date of birth, diagnosis, treatments, medical history, medicine prescription, regular checkups, blood tests, recovery, etc. This information helps service providers in giving quick and right prescriptions to patients. 

Clinical Trial

Blockchain has a lot to offer in clinical trials. Traditionally, there is a lot of false data or information related to healthcare, but with blockchain, it becomes easy to inspect all the false content that is literally not matching the objectives of the devices or supplies. Thus, blockchain generates trust in clinical trials.

Health record keeping

Blockchain being decentralized is the perfect technology to store and keep records. Some of the use cases of blockchain in record keeping are: sharing healthcare data, managing insurance, keeping electronic healthcare records, and performing administrative tasks. Blockchain collects the data from varied sources and distributes it to all the network users.

Display information

Blockchain-enabled healthcare systems also display information about the medication and the supplier. All the information displayed ensures that the supplies are of the best quality and provided by top manufacturers.

Mitigate overhead expenses

This is also one of the most prominent applications of blockchain in healthcare. It eliminates the need for middlemen in carrying out various operations at healthcare units, including the supply chain. Thus, enabling various healthcare organizations to cut unnecessary costs.

Patient monitoring

With the help of blockchain, monitoring patients' health also becomes easy as doctors may watch the patient’s temperatures, beds use, and supply availability. Blockchain enhances the responsiveness and traceability of the supply chain, thus bringing more transparency to patient monitoring.

Future of Blockchain in Healthcare

Do you know? The market size of the global blockchain in healthcare is expected to rise with a CAGR of 76.3% from 2021 to 2028, i.e., approximately $7308.32 million by 2028.

Thus, the future of blockchain in healthcare is clear and promising for healthcare organizations. Blockchain promises to assist the healthcare industry by solving their crying needs. Blockchain not only smoothens the supply chain but also proves useful in performing various other operations with full transparency and advanced security.

All the sensitive data pertaining to patients, in any way, would be kept safely without any fear of getting disclosed or hacked. Recognizing all these benefits of the decentralized structure of blockchain in healthcare, organizations have already started to invest in this emerging technology. Some healthcare firms that have begun deploying their operations in blockchain are BurstIQ, MedicalChain, ProCredEx, Guardtime, Chronicled, Coral Health, etc.

 What are you thinking? Be one of these healthcare organizations by incorporating blockchain in the healthcare supply chain.

Read More: Implementation of Blockchain in Healthcare: How It Will Revolutionize The Industry?

Cost to develop a blockchain-based healthcare supply chain

The emerging technology, like that of blockchain, does not require a hefty amount of sum to connect with your healthcare organization. With some latest tools and technologies and the right development partner, it will become to develop a platform where supply chain management would be as easy as pie.

Talking about the exact development cost, it would only be possible to give an idea by knowing your project requirements. The blockchain healthcare supply chain development cost depends upon numerous factors, which are mentioned below:

  • App complexity
  • Number of developers 
  • Number of hours 
  • Number of features
  • Tech stack used
  • Security level and many more

To get the right cost estimation, bring your project requirements to us and our highly experienced business analysts will look into the details of your project and build a budget-friendly cost estimation report.

Read More: How has Blockchain in Pharma Revolutionized the Outlook of the Healthcare Industry?

Talk to our experts now!

Why choose Suffescom?

We are a top-notch service provider in emerging technologies. Our company holds 6+ years of experience in blockchain, metaverse, and NFTs. Till now, we delivered numerous blockchain-based projects to our Fortune 500 clients. All our clients were highly satisfied with our services.

Choosing Suffescom as your development partner for blockchain healthcare supply chain services may prove to be the best decision of your life. We will completely transform your business by incorporating blockchain. 

Need Assistance In Developing Blockchain Based Healthcare Platform?

What can we offer?

Latest tech stacks

We provide extremely efficient and successful digital solutions for your company using the most recent technological stacks.

Blockchain specialists

You get top-notch developers at Suffescom who have extensive knowledge of blockchain technology. Look at our reviews to see examples of our great work.

Customized solutions

We are committed to offering customized solutions that will help you achieve all of your business objectives and advance your company.

24/7 services

Throughout the post-deployment services, our staff keeps in touch with the client to help them resolve any difficulties encountered by their end users. Additionally, we are always accessible to our clients.

Punctual delivery

The Suffescom team takes on projects with dedication, and completes them in a timely manner while achieving all of the company's objectives.

Don’t waste your time! Get in touch with us now to manage your healthcare supply chain!

FAQs- 

1. Is blockchain good for healthcare?

When blockchain enters any field, it transforms all the operations in a more secure and transparent way. Blockchain in healthcare enables efficient communication globally, peer-to-peer transactions, and keeps the patient’s data safe and secure.

2. What are The Benefits of Blockchain in the Healthcare Supply Chain?

As mentioned in the blog, blockchain offers numerous benefits in the healthcare supply chains, such as eliminating human errors, no need for middlemen, cutting additional costs, higher transparency in operations, and improved trust level.

3. What is the Cost to Build Blockchain in Healthcare Supply Chain?

The Cost to build blockchain for healthcare supply chain depends upon numerous factors such as the number of features, complexity, number of hours, number of developers involved, tech stack used, and many more. You may contact Suffescom to get the cost estimation for your project.

4. What is the cost of Blockchain-Based dApp Implementation in Healthcare?

There are several points that act as a cost-deciding factor for blockchain-based dApp implementation. To know the exact estimation, you may contact experts at Suffescom Solutions. 

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