Blockchain Solutions with STR Domains: Advancing Healthcare
Understanding the Current Situation
The healthcare industry has seen quite a turbulent year in 2023, with staffing challenges, inflation, affordability issues, shrinking margins, and ongoing supply chain disruptions cited as major concerns. This comes out easily in studies such as the Deloitte Center for Health Solutions survey which highlights that 85% of health system leaders are affected by staffing challenges, and 76% are impacted by inflation. Furthermore, 95% of the respondents consider investing in their workforce crucial. It’s thus obvious and the healthcare industry, which deserves primary attention, is often hindered by outdated systems that compromise patient data security and prevent efficient care delivery.
The fact is, technology might be developing fast but its implementation might actually have some serious catching up to do especially in some industries.
For example,
as of 2021, about 97% of Americans own some type of mobile phone, calling for a fast digital transformation in healthcare to connect effectively with the public. Interoperability, or the smooth exchange of data between systems and entities, is pivotal for this transformation. The healthcare sector has embraced Internet-of-Things (IoT) technology, from smart wearables and implants to remote monitoring, leading to life-saving innovations. However, compared to other industries, healthcare’s technological advancement is more gradual, partly due to regulatory requirements aimed at protecting vast amounts of private and sensitive information.
In this climate of growing needs and requirements, digital technology is being considered as probably the main direction to produce real solutions and improve patient care. More specifically, we are talking blockchain technology. The growing interest in such technology across various industries suggests its potential in healthcare for improving security, data management, and operational efficiency.
Challenges with Classical Technology in Medicine
Data Sharing Issues: The healthcare sector struggles with inadequate data sharing among providers. Limited access to a patient’s complete medical history leads to redundant tests, unnecessary treatments, and potentially harmful practices.
Data Privacy and Cybersecurity Risks: Health records, rich in personal details, have become prime targets for cyberattacks. These breaches not only compromise patient privacy but can also disrupt critical care, especially when medical devices like pacemakers or insulin pumps are involved.
Integration Challenges: Communication gaps persist due to the lack of unified protocols and standards, particularly evident in the slow integration of IoT in healthcare.
Concerns Over Selling Personal Data: The lucrative nature of reselling patient data has tempted healthcare providers to share and sell information, raising ethical concerns.
Proprietary Data Control: Patients often lack ownership over their medical files, with their personal health information typically stored on external servers or cloud platforms.
Lack of Transparency: The healthcare industry suffers from a coordination deficit among providers, insurers, and other stakeholders, impeding effective comparison shopping for healthcare services.
Blockchain technology, celebrated for its security, transparency, and decentralized nature, offers powerful solutions to longstanding challenges in healthcare. SourceLess’s implementation of this technology through STR Domains streamlines processes that are all crucial in handling sensitive patient information — it offers a secure, transparent, and efficient way to manage patient records, ensuring data integrity and confidentiality.
What are STR Domains?
STR Domains are blockchain domains (available on the str.domains platform) that serve as unique digital identifiers, granting individuals or entities a verified and distinctive presence in the digital realm and within the SourceLess ecosystem. They represent a shift from traditional domain ownership models, promoting lifetime ownership rather than a recurring rental or subscription model.
Being a distributed ledger technology system, SourceLess employs smart contracts.
They are digital protocols designed to enforce contracts automatically. Used in healthcare settings, they activate once agreed-upon conditions between a patient and provider are met, ensuring that contract terms are executed just like a traditional written agreement.
Real-World Applications and Advantages of STR Domains in Healthcare
Next Level Security: SourceLess blockchain technology offers a secure, reliable, and efficient solution for healthcare institutions, ensuring uninterrupted business continuity. It enables full control over all internal computer systems, maintaining network integrity, managing IT vulnerabilities, and addressing network weaknesses. With SourceLess, healthcare facilities can securely store hardware and software, swiftly revoke data access for former employees, and effectively block software viruses. This comprehensive approach not only safeguards against costly health IT security breaches but also preserves operational smoothness and upholds the institution’s reputation by maintaining public trust.
Anonymity and Confidentiality: Transactions are “anonymous” when identities are concealed and “confidential” when the transaction details remain undisclosed. Zero Knowledge Proof technology enables transaction validation without revealing personal data. Confidentiality is about restricting access to specific information.
Visibility: Gain precise knowledge of where your sensitive medical data is stored, ensuring you share only the essential information from your medical record with healthcare institutions.
Secure Patient Data Management: A hospital network implementing STR Domains will have drastic reduction in data breaches. With secure and instantaneous access to patient records, healthcare professionals could provide timely and accurate care.
Improving Research and Collaboration: SourceLess Blockchain technology also streamlines medical research. By securely sharing patient data, researchers can collaborate more effectively, leading to faster and more accurate clinical trials and medical advancements.
The Human Touch: Impact on Patients and Providers: The impact of STR Domains extends beyond technical benefits. For patients, the adoption of SourceLess’s Domains in healthcare means greater control over their medical data. It gives them access to knowledge, choice and privacy regarding their treatment options, fostering a more patient-centric healthcare environment. At the same time, for healthcare professionals it means access to tools for better patient engagement and care quality.
Streamlined Clinical Trials: By facilitating secure data sharing, STR Domains offer massive potential to accelerate clinical research, making trials more efficient and reliable.
Wrapping up…
As healthcare continues to evolve, the integration of technologies like SourceLess blockchain is not just beneficial but necessary. Through STR Domains, the company addresses the sector’s pressing challenges by enhancing data security, improving operational efficiency, and placing patients at the heart of healthcare. By leveraging SourceLess Blockchain via the STR Domains, healthcare organizations can pioneer new business models, enhance services, and optimize operations. This approach leads to cost reductions and ensures full data security through encryption. It also provides complete network control, enabling healthcare providers to manage their systems more effectively and securely.
