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The traditional systems have sometimes proven to be less effective during times of emergencies. The greatest example of this is the Covid-19 pandemic when the whole world was in lockdown. Whereas, the recent example is the Russia-Ukraine war which proved the efficiency of crypto assets amidst geopolitical crisis.
But if we talk about the healthcare facilities specifically, it is basically provided in two ways, the first is the insurance-based healthcare systems, and the second is out-of-pocket healthcare systems. While the first one is a luxury for many, the second one is the only possible option for the majority of folks.
But a factor that links both the methods is the third parties or the intermediaries who control patient’s access or create inefficiencies or sometimes both.
It is not an unknown fact that most sectors add up to the cost only because of the intermediaries, including the healthcare industry. And here! The digital currencies, which often is denoted by just one word, Bitcoin (BTC). One of the primary aims of Bitcoin was to eliminate the dependency on third parties.
A way that can highly facilitate the folks is to develop a new peer-to-peer integrated healthcare system (IHS), which can act as a direct link between the patients and the service providers. It can function in some ways such as:
An insurance-like product developed atop Bitcoin (BTC) is needed. And a transparent, secure, and efficient supply chain can be built on top of the crowned crypto asset. This can change the picture of the health space, for instance, it can solve the problem of artificially inflated drug prices. Furthermore, each and every healthcare provider can contribute data collected during patient care.
Overall, the focus should be on making the basic facilities affordable with minimal unnecessary expenditure. Although the adoption of new technologies is not as easy as it sounds, the utilization of appropriate expertise in terms of resources and technicality may help with it.
But integrating digital assets with an essential industry like that of health can not only enhance universal healthcare, as the internet is fast reaching even the corners of the world. But may also contribute to the development of new health technologies. It might also help with a better allocation of the healthcare budget and of course, add up to the savings for the people.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
