With the increasing case of data breaches that affected 87 million patients in the United States in 2023, healthcare institutions are now shifting to blockchain technology because it can transform how they handle their data and secure them. This pivot comes when the need for secure and efficient management of vast amounts of healthcare data has never been greater, highlighting a significant increase from the 37 million breaches reported in 2022.

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• Blockchain technology is increasingly being adopted by healthcare organizations to tackle the significant challenges of data breaches, which will affect 87 million patients in the U.S. in 2023.
• BurstIQ is pioneering the integration of blockchain with machine learning and privacy technologies to create secure “smart data” for more efficient healthcare data management.
• Despite the potential of blockchain to improve data security and management in healthcare, adoption may be cautious due to privacy and regulatory compliance concerns.

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Blockchain Innovations Set to Transform Healthcare Data Security and Management

BurstIQ, one of the leading companies in healthcare solutions based on blockchain technology is driving this transformation. Amber Hartley the Chief Strategy Officer at BurstIQ, highlights that currently used data management systems are not sufficient to address today’s complexities by the healthcare delivery ecosystem. Alternatively, BurstIQ’s unique approach combines blockchain technology with advanced machine learning and privacy-preserving technologies to create ‘smart data’, which reflects built-in features of Privacy, Permissions & Trust.

​ The Colorado Department of Health Care Policy and Financing is another example in which blockchain potentials are being actualized. Implementing the LifeGraph system, which is developed by BurstIQ has allowed for maintaining high data quality and security standards across multiple vendors and systems that are used in Medicaid; this demonstrates the applied value of blockchain encryption techniques as well as privacy technologies.

Bruce Ahn from Partisia Blockchain expands on the use of Multi-Party Computation (MPC) for enhancing trust in healthcare data systems. Partisia’s collaboration with Verida aims to deliver solutions that maintain the confidentiality of patient data while still supporting vital research initiatives. Soon, patients could manage their healthcare data securely via the Verida Wallet, interfacing with multiple data systems seamlessly.

Although blockchain’s future in healthcare data management is bright, adoption may be slowed by privacy and compliance concerns. Hartley advises that health data should not reside on public ledgers, advocating for blockchain’s use within a broader, privacy-focused service suite. Chris Were, CEO of Verida, reassures that their network, while blockchain-enabled, does not expose user data on blockchain networks or public domains.

HIPAA and HITECH regulations that dictate strict adherence to rigid privacy policies are mandatory for blockchain services operating in the healthcare sector. It is precisely because Hartley appreciates the challenge of architecture that he remains confident regarding web3 services’ crucial part to play in healthcare digital destiny. 

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