How Can Blockchain Help Fight Corruption in the Healthcare Sector?

Corruption has become a reality influencing many critical areas of the modern world, and the health care system is no exception in this respect. Without engaging in a detailed review of all the potential abuses and idiosyncrasies that can occur in the medical field, a significant segment of corruption in health care is related to information transfer between patients and medical institutions, as well as between clinics and insurance companies. It was almost impossible to eradicate corruption in medicine until recently, but now the situation is changing rapidly. "Vaccination against corruption” can be resolved through the "Digitalization of healthcare” – or in other words – the introduction of blockchain to the health care industry.

Blockchain ensures that information exchange is maintained confidentially. A classic sector that is open to all kinds of abuse is medicine supply. Both patients and suppliers can track the entire supply chain of medicines via blockchain - from the producer to the end user, virtually eliminating speculation, substitution of counterfeit drugs, money laundering etc.

On the other hand, blockchain ensures confidentiality of information, which becomes a strong impediment to illegal trade in personal data and related information associated with illicit commercial activities. In this regard, the quality of cooperation between medical clinics and insurance companies also increases. The eradication of corruption in the healthcare system is all about reducing bureaucracy and making its administration more transparent and less hierarchical – and blockchain could help eliminate this.