The use of blockchain in healthcare holds immense potential and will be beneficial to both patients and healthcare services providers in the upcoming years. With its initial success, newer trends have disrupted the market and will define its direction, during the forecast period of the [FURL=https://www.industryarc.com/PressRelease/1681/BlockChain-in-Healthcare-Market-Research-Analysis.html]Blockchain in Healthcare Market[/FURL] . Smart contracts have disrupted the market and will be pivotal in ensuring transparency amongst healthcare stakeholders owing to blockchain technology. One of the major examples of smart contracts is inventory management of drug supplies. ‘If-then-else’ programs will form the basis of this concept to trigger an automatic transaction and provide payment to the manufacturer, if a patient orders a particular drug from the formulary built by this technology. Moreover, blockchain can also be utilized in expediting payment from a patient to a doctor’s office. This is accomplished by creating a digital record adept at recording instances of patient’s meeting with the doctor. Hospital services providers are collectively working towards a more efficient blockchain system that can ensure finer interoperability amongst each other. For instance, five leading healthcare companies including Quest Diagnostics, Humana, and others are launching a blockchain powered program that could succeed in reducing administrative costs. Using this technology, provider directories will be maintained online that could alternate information between insurers, hospitals, medical service providers, and others. This will be used to maintain seamless transactional information to reduce breaches and technical errors. The blockchain market will grow with a robust CAGR of 52%, during the forecast period 2019-2025. The market has earned a revenue of $38 billion in 2018.Browse Blockchain In Healthcare Market Report Link:
[FURL]https://www.industryarc.com/Report/18224/blockchain-in-healthcare-market.html[/FURL]
Major Players of the Market
Key market players have played an important role in innovating the field of blockchain for creating sustainable solutions that could impact the healthcare industry in a positive way. Using this technology, companies have invested time and technological resources to carefully assess the areas where blockchain technology could make a noticeable difference including supply chain management system, building the bridge between the insurers and the buyers, making processing claims easier, and others. These key companies of the blockchain in healthcare market include Change Healthcare, Chronicled, Inc., Factom Inc., FarmaTrust, Hashed Health, Healthereum, LLC, IBM Corporation, iSolve, LLC, and Medicalchain SA.
Talk to one of our sales representative about the full report by providing your details in the link below:
[FURL]https://www.industryarc.com/support.php?id=18224[/FURL]
About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.