What are the Challenges in the Adoption of Blockchain in Healthcare?
For long, the blockchain technology was only associated with the financial sector. However, the applications of this disruptive technology are slowly finding its way into the healthcare sector as well. We have already discussed the benefits that the healthcare industry can gain with the help of blockchain technology previously on our blog “Will Blockchain Be […]READ MORE >>
For long, the blockchain technology was only associated with the financial sector. However, the applications of this disruptive technology are slowly finding its way into the healthcare sector as well. We have already discussed the benefits that the healthcare industry can gain with the help of blockchain technology previously on our blog “Will Blockchain Be Successful in Making Room for Itself in The Healthcare Industry?” .The amount of patient data that healthcare companies possess can easily be accessed and shared securely using blockchain technology, but in practice, the implementation might not be as easy as it sounds.
Major cultural shift
Though digitization is slowly taking over the healthcare sector, healthcare companies still rely on paperwork for several processes. Therefore, to ask them to shift to electronic health records on short notice would be a difficult task. Changing the people’s behavior and altering their routine functions is a time-consuming and challenging task for any industry. There are high chances of resistance from the employees. Therefore companies in the healthcare sector need to figure out ways to convince their employees and provide adequate training to implement new technologies like blockchain.
Healthcare is distributed
Healthcare providers and the insurance payers are not streamlined regarding handling records. Without such a system it would be a difficult task to get them to adopt blockchain technology. Also, if any of the partiers are resistant is accepting these changes, then the usefulness of the whole system goes down the drain.
Unwillingness to disclose data
In many cases, the hospitals might not be willing to share their exact costing data with the insurance companies. The main reason for this is insurance companies charging different rates for different patients. In such a scenario where the various stakeholders in the healthcare sector are at profit wars with one another and unwilling to share accurate data, implementing sophisticated technologies such as blockchain would not be an easy task.
Changing focus on healthcare
With the election of a new president in the United States, the focus on various healthcare policies and practices changes. Therefore, processes such as the implementation of the latest technological advances in healthcare administration would depend on the existing and new government policies. So, incorporating blockchain into the healthcare sector cannot be an overnight process.
Lack of proven credibility
Though blockchain in the healthcare sector sounds very exciting, it has not been successfully implemented anywhere. Healthcare being such a sensitive and distributed industry can not undergo overnight changes. Therefore, until this technology is successfully pilot run by players in the industry, it is difficult to determine if the adoption of this technology will be viable.