Healthcare and blockchain are a match made in heaven. Smart contracts have the ability to slice administration costs significantly through immutable ledgers and automated processes.
In many countries, healthcare is suffering from administration costs, with physicians and caregivers working overtime. Blockchain has the unique ability to interconnect healthcare in a way not thought possible before.
Mexico has been positive in the healthcare blockchain space, and many projects have had success in launching blockchain-related care.
The latest news out of the region comes in the form of Covid-19 testing. MDS Mexico has launched a digital platform allowing real-time results. This is a further expansion on an in-motion program that safeguarded results of clinical testing.
Blockchain is unique in that it provides an immutable ledger for results, meaning, results of clinical or Covid–19 testing cannot be changed after the fact.
This provides increased trust in the system and allows for governments and hospitals to cut back on the administration required to confirm results.
Each test done is uploaded to MDS’s blockchain platform and uses a cryptographic signature from the physician who verified the results.
Mexico’s National Chamber of Commerce has already announced the usage of Covid-19 vaccine passports which will also use blockchain. It is likely that these two products will tie together to push for national safety and patient data security.
Testing is not the only area that has spread in Mexico. Telehealth services on the blockchain have also been launched, providing patients with extra data privacy and increased options.
Many believe that blockchain technology will be the catalyst in reinventing healthcare IT globally. Worldwide healthcare systems have been found to be archaic, with many advanced countries still relying on paper for documentation.
Healthcare is an incredible opportunity for blockchain to show its true utility and economic incentive. If Mexico begins to see great improvement in its systems, in using blockchain we could quickly see many other countries adopt the practice.
With many cryptocurrency projects that would benefit greatly from this adoption, some would say this is a really exciting space to watch.