Summary:

• Blockchain can manage the entire healthcare chain

• Future health challenges can be mitigated with the implementation of blockchain

• Blockchain is the most secure platform which can be used to intelligently manage critical areas like healthcare

Earlier they used to say – ‘the coffin maker loves the plague’. Today, the coffin makers have to wait since the pharmaceutical companies are making big money by helping people lead better disease free lives. One of them is vaccination and its recent demand overshoot owing to the sudden measles outbreak. It is the largest outbreak of measles since the year 1992. Naturally, there has been a mad rush to get vaccinated against measles. Children in particular were the most affected by the outbreak of the measles virus. The monetary value of the total vaccine market for measles, mumps and rubella stands at a staggering approximate value of $675 million!

Merck’s Chief Commercial Officer speculated that there has been significant purchase of vaccines mainly centered on the recent outbreak. When we are focusing on the outbreak, we should also know the numbers to understand the severity of the outbreak. The center for disease control and prevention has reported that a total of 1164 cases of measles have been reported as per July 25th.Modern digital technologies have to play a major role in managing healthcare, outbreaks and assisting hospitals in disease control. Modern blockchain technology can go a long way in managing complex healthcare scenarios with the usage of secured database, immutable ledgers and IoT. Modern vaccine storage systems can be integrated with blockchain to manage stocks and raise alerts when the number of vaccines being purchased is critically high. It can also trigger national or local healthcare alerts.

The awareness regarding measles decreased significantly among parents in the last decade. This is one of the reasons which led to the sudden outbreak of the disease. Blockchain and AI can play a major role in helping the healthcare authorities force parents to take their children for vaccination. Blockchain companies like HashCash Consultants can help them in maintaining accurate healthcare records, especially when it comes to vaccine management.

Blockchain companies will play a decisive role in modifying the existing healthcare industry with inventory management, stock alerts, patient data storage, health alerts and a host of other critical functions.