Tuesday, 16 October 2018

Latest Blockchain News: Ledger Technology Makes Significant Impact On Specialty Pharmacy

Latest Blockchain News on Specialty Pharmacy

The blockchain news is becoming intriguing day by day as it makes way to unbelievable sectors. The advent of blockchain is transforming the way businesses interact with each other in the same industry and different industries. The technology which was originally designed to serve as the underlying platform for public ledger for Bitcoin transactions has now left crypto trade far behind. It would be certainly incorrect to say that this wonderful emerging advancement can’t be used in any domain. One such varied sector includes specialty pharmacy which has a huge stake in the healthcare sector.

Blockchain technology, for instance, can play a vital role to make a direct and lasting impact on specialty pharmacy. This market has significantly grown over the years from a $98 billion market in 2010 to $178 billion in 2015 and it is likely to climb the figure of $282 billion approximately by 2020. Evidently, with such given high stakes there is an urgent need of cutting-edge technology which is pertinent in making a secured network for a patient’s data and personal information.

Specialty pharmacy is already working on that with a pilot program powered by blockchain technology. Five leading healthcare organizations such as Optum, UnitedHealthcare, Quest Diagnostics, MultiPlan, and Humana have announced a pilot program which will be aimed at escalating organizational efficiency and reducing costs via information sharing enabled by the blockchain based system according to Specialty Pharmacy Times.

Requirement For Specialty Pharmacy Information System

A specialty pharmacy information system has become utmost important in the recent time because of too much data or information. The existing systems are not as secure and reliable when it comes to data sharing and monitoring. Specialty pharmacies have an objective far superior above the regular pharmacies. These pharmacies handle medications of patients with severe ailments or terminally ill diseases. Tracking patient details, day-to-day prescriptions and insurance papers is a tough task and there blockchain can play a lead role in this. (Via Forbes)

The blockchain news about specialty pharmacies is grabbing wide attention as many MNC’s have a major stake in this serious business.

 

The post Latest Blockchain News: Ledger Technology Makes Significant Impact On Specialty Pharmacy appeared first on OWLT Market.



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