The Power of Blockchain
On July 26 the Cambia Grove will be hosting an event discussing the world of blockchain and the technology’s potential in health care.
What is Blockchain?
Blockchain technology is generating a ton of buzz in health care transformation circles. The technology, which is the same technology that Bitcoin is founded on, decentralizes and distributes data storage. It has already begun to be adopted in other sectors, including banking, manufacturing and telecommunications, creating a competitive advantage for better communication among systems. The success of blockchain within other industries has many predicting a revolutionary impact for the technology in health care.
CNBC defines the technology as “a global online database that anyone, anywhere with an internet connection can use. Unlike traditional databases — which are typically owned by big institutions — a blockchain doesn't belong to anyone; and with an entire network of people monitoring it, cheating the system by faking documents, transactions and other information is nearly impossible.”
In blockchain, transactions operate independently and consist of secure, encrypted data transfers.
Blockchain for Health Care
Blockchain technology can enable secure health care information exchange, allowing doctors to access vital information when assessing the health of a patient through one public ledger, rather than multiple ledgers. The technology supports improved interoperability. Patients have increased control of their information and who has access to it, a key component of a consumer-centric health care system.
Considering examples from other industries that are witnessing a reduction in cost of operations after the switch, implementing this technology could reduce the cost of health care.
Discussion on Blockchain Technology at the Cambia Grove
Join us on July 26 to learn from an executive panel of health care pioneers who believe in the promise of blockchain and are actively working on initiatives for this technology to be adopted in health care. Discussions will surround:
- Blockchain 101 for business–highlighting use cases that will materially change the cost and delivery of health care
- Market momentum across industries and within health care
- How and why to start exploring
In addition to the discussion topics, panelists will share their experiences and challenges with blockchain to help you create a strategy for implementation within your organization.
Event moderator Max Janasik, of Cambia Health Solutions, has authored a white paper that describes how designing the future infrastructure and transaction engine for healthcare can begin using the technology, and the cost savings implications for the industry.
Register for the event on July 26 here!