domain-b.com : Blockchain technology and IoT could cut hospital treatment expenses to 50% from 70%

Blockchain technology and IoT could cut hospital treatment expenses to 50% from 70%

Digitisation, driven primarily by blockchain technology and Internet of Things (IoT) would prove to be a catalyst in transforming the healthcare industry, with the use of digital technologies driving down the healthcare industry’s treatment expenditure to 50 per cent by 2020 from the current 70 per cent.

Blockchain, a peer to peer distributed ledger technology for a new generation of transactional application, enabled hospitals reduce audit and compliance cost, cut compliance risk by ensuring increased transparency in claims activities, establish tamper-proof audit trails, and enhance patient data security. This would help healthcare facilities improve patient care and make greater profits, said Dr Sandeep Narula, associate professor at IIHMR University, Jaipur.

Source: domain-b.com : Blockchain technology and IoT could cut hospital treatment expenses to 50% from 70%

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