The Tech Used In Crypto Can Be A Solution In Healthcare

January 21, 2022 6:45 pm

Within the health care industry, one of the biggest pain points for a health care worker and staff is that it can be tremendously difficult to gather all the patient signatures and securely store them.

Turning to digital solutions has been the most recent approach to tackle this pain point, but there have always been concerns if these solutions will be able to satisfy the security and privacy requirements that have been laid out by health care regulators.

Majority of health-related documents will contain highly personal information about the patients and the solution that is used to store these documents could make the difference between the organization being compliant or not compliant with the strict regulations.

Recently, blockchain has emerged as a new way to be able to securely store e-signatures and relevant information.

Skillednursingnews.com reports:

Once again, blockchain offers unique advantages.

First, few technologies have ever proven to be more secure or tamper-proof than blockchain.

If you change anything in the blockchain, the entire chain is invalidated.

Most federal data-privacy laws, including HIPAA, are intentionally vague about which systems and processes regulated businesses should use.

Lastly, blockchain’s distributed network design — even in a private network — further adds to security and protection of documents and the signature process.

SNFs that do not employ blockchain technology for their e-signatures can be open to a bevy of risks in privacy, security and legal action.

“Blockchain technology, as used in other industries, is the most efficient way to audit and protect data and should be deployed in health care,” Miner says.

“While other e-signature solutions may simply say they are HIPPAA compliant, they may still leave their users open to inefficient audit trails.”

The approach to utilize blockchain technology that is frequently used for cryptocurrencies has already been endorsed by multiple credible organizations in the space.

For example, the National Institutes of Health recently release a report recommending the use of blockchain to track and secure Covid-19 data.

Many large corporations also use blockchain in order to secure their data.

For example, Walmart is using the tech to track produce and ensure that their food meets certain safety guidelines.

Commercial real estate companies use it to secure electronic contracts.

As a result, it would make sense to utilize the same approach and technology if all these organizations rely on it to secure their most valuable and essential data & documents.

Healthcareitnews.com shares:

Until now, you didn’t have any choice but to entrust your electronic signatures to more traditional cybersecurity protocols, because no e-signature app offered blockchain technology.

But today, you no longer have that challenge. existing blockchain solutions like jSign can protect your company’s electronic records in a digital environment that leverages all the security, decentralization and anti-fraud benefits of the blockchain.

As a result, it is becoming clearer that as the blockchain and crypto space continues to gain more awareness and achieve mass adoption, the core technology for something like this could easily be run on the Ethereum blockchain or something similar.

If you are a new organization looking to secure data that is confidential like those in the healthcare industry, it might be worth looking at blockchain based solutions from now on.

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