Within Two Years, 20% Of Healthcare Orgs Will Be Using Blockchain

I don’t know about you, but to me, blockchain news seems to be all over the map. It’s like a bunch of shiny objects. Here! Look at the $199 zillion investment this blockchain company just picked up! Wow! Giant Hospital System is using blockchain to automate its cafeteria! And so on. It gets a bit tiring.

However, I’m happy to say that the latest piece of blockchain news to cross my desk seems boring (and practical) in comparison. The news is that according to a Computerworld piece, 20% of healthcare organizations should be using blockchain for operations management and patient identity by 2020, or in other words within two years. And to be clear, we’re talking about systems in day-to-day use, not pilot projects.

The stats come from a report by analyst firm IDC Health Insights, which takes a look at, obviously, blockchain use in the healthcare industry. In the report, researchers note that healthcare has been slower out of the blockchain gate than other industries for reasons that include regulatory and security concerns and blockchain resource availability. Oh, and while the story doesn’t spell this out, good ol’ conservative decision-making has played its part too.

But now things are changing. IDC predicts that in addition to supporting internal operations, blockchain could form the basis for a new health information exchange architecture. Specifically, blockchain could be used to create a mesh network capable of sharing information between stakeholders such as providers, pharmacies, insurance payers and clinical researchers, the report suggests. This architecture could be far more useful than the existing point-to-point approach HIEs use now, as it would be more flexible, more fault-tolerant and less prone to bottlenecks.

As part of the report, IDC offers some advice to healthcare organizations interested in taking on blockchain options. It includes recommendations that they:

  • See to it that any blockchain-related decisions are evidence-based and informed and that stakeholders share information about the pros and cons of blockchain interoperability freely
  • Develop a blockchain interoperability proof of concept which demonstrates how decentralized, distributed and immutable properties could make a contribution
  • Pitch the benefits of blockchain interoperability to providers and patients, letting them know that it could eliminate barriers to getting the data they need when and where they need it
  • Adopt blockchain interoperability early if at all, as this can offer benefits even prior to implementation, and gives leaders a chance to tackle concerns privately if need be

Of course, these suggestions and factoids barely scratch the surface of the blockchain discussion, which is why IDC gets $4,000 a copy for the full report. (Though I should note that the article goes into a lot more depth than I have here.)

Regardless, what came across to me from the article was nonetheless worth thinking about when kicking around possible blockchain strategies. Broadly speaking, providers should get in early, keep everyone involved (including patients and providers ), work out differences over its use privately and see to it that your rollout meets concrete needs. You may want to also read this article on 5 blockchain uses for healthcare. It may not be in places you’d have thought previously.

And now, back to silly blockchain news. I’ll let you know when another set of practical ideas shows up.

About the author

Anne Zieger

Anne Zieger

Anne Zieger is a healthcare journalist who has written about the industry for 30 years. Her work has appeared in all of the leading healthcare industry publications, and she's served as editor in chief of several healthcare B2B sites.

1 Comment

  • You’re right. 20% will have to use blockchain. At least that many are going to use the blockchain to pay off ransomware.

    Ok, jokes aside, I think there’s a big difference between should use it and will. There are some practical use cases for blockchain in healthcare, but it’s likely not going to be what many people think.

Click here to post a comment