The healthcare industry is facing pressure from two opposite sides to provide high quality to their patients and to regulate costs. As the industry is evolving it has to keep up pace with the emerging disruptive technologies , various federal regulations are being added to existing burden, it is a necessary mandate from government that marketplaces, medicaid expansion, health information exchange and Medical loss ratio are working in tandem with each other to ensure that effective patient care becomes the focus of healthcare system.This change in trend has made the healthcare industry to focus on new opportunities to reduce the cost, at the same time enhancing the quality of care provided to patients.

This is where Blockchain comes into picture, where it has the potential to alleviate one of the major challenge faced by the industry : Transmission of patient data across geographical boundaries without compromising its privacy and security, this will have major impact on Patient health management and it will also provide a critical link in support of medical tourism

The healthcare industry around the world is a complex system of inter connected entities, this transformation of the health care industry has led to the concept of “patient centric,” or participatory approach to delivery of healthcare.every healthcare organisation in this complex system knows that in order to be in contention it has to provide quality service to its patients and to keep costs low. Quality service can only be provided when patients are involved in every aspect of their care services delivery.

The traditional view is to keep patient at the center of care delivery service, but the decision making is based on the various entities such as Healthcare providers, Pharmacies, Research organisations and Social media & Health apps. But the current view of patient centricity is a scenario where the patient is well informed and have higher involvement in care that is provided to them, this will dramatically change the equation for providers, expanding their role from subject expertise to true care co ordinators, this approach has potential to reduce cost of healthcare delivery service at the same increasing the quality of care but this approach is possible only if the patients data is readily available to all participating entities in the patient care system

The availability of data at global scale poses numerous challenges , in order to meet all the laws and mandate defined for security and privacy and access to clinical and personal data, organizations have to invest significant money in enhancements to the already existing infrastructure but this can eliminate if they have true intent to solve these issues

The present state is focused on creating a centralized repository to hold and transmit patient data. But what if rather than a single organisation holding and providing patients data, the patient himself controls and authorizes their data? Blockchain technology can provide the foundation for this distributed, personalized, data storage solution.

The Growing demand for healthcare services and integrated care delivery system, coupled with focus on patient-health management Highlights the need for an IT system that eliminates the need of an middlemen, Blockchain has overcome major if not all the challenges , a system which is built on distributed architecture, it does not require multiple level of authentication. It is robust technology that can drive healthcare industry performance, improve quality of life and lower cost of delivery.

One of the key feature in our healthcare system is the way in which data is transferred across various entities , Blockchain enables for seamless information sharing that can eliminate the duplication, errors and inconsistencies that can arise with traditional, centralized data storage, the existing status quo of middle men who execute patient contracts will be eliminated with implementation of smart contracts

The Healthcare industry is a complex system of interconnected entities , each of these entities has separate information systems which results in ever increasing cost of Healthcare. Taking into consideration the present capabilities of Blockchain technology, it has all the potential to become the next big tech innovation engine, Blockchain applications for patients data portability, interoperability, care delivery service can provide the answer to many challenges facing this industry