Supply chains of the modern health systems are pretty complicated and inefficient. This is especially evident in the department of medicine supply where a lot of patients are not suited to their needs accordingly. On the other hand, some patients have the medications that they do not use. This is such a misfortune as there are many people that would make a good use of that medicine. Simply, current medicine supply chain cannot cope with these issues and ideas about changing it have been proposed. One of those ideas deals with the implementation of blockchain technology in the supply chain.
New Blockchain Infrastructure
The city of Memphis could be the host of a new blockchain infrastructure that should help cancer patients to easier get their medicine. This project is born out of the cooperation between FedEx Institute of Technology and Good Shepherd Pharmacy, Commercial Appeal reports.
Secure way of the blockchain information distribution will play a major role in the new supply chain. That characteristic of blockchain will enable that unused medication is retrieved and made available to the disadvantaged or people that do not have economic capacities to fund the needed medications. Good Shepherd Pharmacy CEO, Phil Baker has stated that over $10 million worth of perfectly good and usable prescription medication remains unused every year, all that only in Tennessee alone. Possible implementation of blockchain in the medication supply chain on the whole USA level might have a staggering consequence as the costs could be massively reduced.
Blockchain's immutable leger will also bring confidentiality regarding the distribution of the medication which is essential for the supply chain to work. Shepard also stated his assurance that blockchain is the answer to the supply chain problem.
Reforming Supplies With Blockchain
TheTokener recently reported on the intention of Kerala, an Indian State, to reform their food supply with blockchain. Some other countries have also expressed their plans to do the similar. With new projects regarding medicine supplies, it has become evident that supply chains are one of the main areas of the future blockchain impact. Decentralized ledgers could be the solution for future hyper-complex societies. Centralized systems are having a hard time organizing all of the societies supply needs. At this moment it is pretty clear that decentralized systems are the way to go.
Future medical records must have top security priorities. Possible misuse of medical records could be a catastrophic invasion of privacy. Centralized systems are pretty vulnerable to advanced cyber-attacks and simply aren't as efficient as decentralized ones. Because of that, it is of utmost importance to have much more projects like the blockchain medical supply project of the FedEx Institute of Technology. They are a cornerstone of the future blockchain implementations in the health system. Completely digital, secure and efficient medical databases are closer than we might think. Blockchain technology is there, now we only need some smart moves by the government officials and a glimpse of future tech will become reality.
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