Blockchain-an Emerging Technology that has Promise to Address Functional and Security Needs in Healthcare IT
The emerging technology of Blockchain has great potential to advance Healthcare IT.
The emerging technology of Blockchain has great potential to advance Healthcare IT.
Remember when businesses all kept their own ledgers, which required updates as each new business transaction occurred? How about the added expenses that had to be paid to intermediaries adding margin for services? And what about the inefficiencies as each business in the network (supplier, buyer, seller) all recorded the same transactions in their individual ledgers? While many businesses and industries, including healthcare, still operate this way, an emerging technology has great potential to advance Healthcare IT across the economy and in the government, namely “Blockchain.”
Blockchain is the technology that enables the transactions of bitcoin, the crypto currency. Brookings describes Blockchain as a “secure transaction ledger database that is shared by all parties participating in an established, distributed network of computers. It records and stores every transaction that occurs in the network, essentially eliminating the need for “trusted” third parties such as payment processors.” Cryptography is used to ensure that network participants see only the parts of the ledger that are relevant to them and that transactions are secure, authenticated and verifiable.
This shared ledger technology is separate, and applicable to a whole range of business challenges that cross all industries. The underpinning principles captured by the technology are:
Rather than a point to point relationship between transactions that reflects the legacy movement of information through the healthcare system, Blockchain introduces a capability known in healthcare as an ESB (Enterprise Service Bus) that tracks transactions through the ecosystem and attributes them to each entity that acts on the transaction. The Blockchain technology is currently being tested for use and extensibility/scaling in securities, trade financing, syndicated loans, supply chain, retail banking, publics records, and digital property management.
Healthcare has its own use cases that are distinct from other industries. For example, The Office of the National Coordinator for Health Information Technology is leading the standards for Health IT and as such has issued the following challenge for use of Blockchain in Healthcare IT:
“The ‘Use of Blockchain in Health IT and Health-Related Research’ Ideation Challenge solicits white papers on the topic of Blockchain technology and the potential use in health IT to address privacy, security, and scalability challenges of managing electronic health records and resources.” Winners may be invited to present their papers at an upcoming industry-wide workshop co-hosted with the National Institute of Standards and Technology (NIST).
The application of the Blockchain technology must be applied to address a healthcare workflow and ecosystem from the start as it is introduced to this emerging digital industry. Taking the principles above and illustrating examples in healthcare, we have the following:
Projected benefits of Blockchain include a shared ledger, smart contracts, privacy, time savings, cost reduction or elimination, reduced risk and increased trust; all attributes that can bring value to the flow and protection of information in healthcare.
The need for secure, private, attributable, and reliable information flow in healthcare is clear as organizations balance information sharing needs with privacy, security and protecting against ongoing cyber-attacks. The Federal Healthcare IT community should monitor the emergence of this capability as a way to address privacy and security in making healthcare information available within the healthcare ecosystem.
** Blockchain logo courtesy of the Blockchain Blog.