Emerging Technologies and Innovation: Blockchain in Healthcare

Running head: EMERGING TECHNOLOGIES AND INNOVATION 1
Emerging Technologies and Innovation: Blockchain in Healthcare
Student’s Name
Institutional Affiliation

EMERGING TECHNOLOGIES AND INNOVATION
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Table of Contents
I. INTRODUCTION....................................................................................................................3
Problem Statement.......................................................................................................................4
Research Objectives and Questions.............................................................................................4
Research questions...................................................................................................................5
Purpose and Justification.............................................................................................................5
Conceptual/Theoretical Framework.............................................................................................5
Challenges facing the healthcare industry................................................................................5
II. MATERIALS AND METHODS.........................................................................................7
Methodology................................................................................................................................7
Analysis of sources of information..............................................................................................8
Research methods........................................................................................................................8
Data collection/system design methods.......................................................................................8
Ethical issues................................................................................................................................8
Compliance Requirements...........................................................................................................9
III. PROJECT PLAN..................................................................................................................9
Deliverables.................................................................................................................................9
IV. TIMELINE...........................................................................................................................9
Work breakdown structure...........................................................................................................9
Risk analysis..............................................................................................................................10
Duration.....................................................................................................................................10
Gantt chart..................................................................................................................................11

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Emerging Technologies and Innovation: Blockchain in Healthcare
I. INTRODUCTION
Blockchain is defined as a decentralized circulated public ledger of transactions by use of an
encrypted structured network of systems to operationalizes those transactions that are recorded
chronologically in growing blocks (Kuo, Kim, & Ohno-Machado, 2017). Initially, the blockchain
technology was primarily designed to cate for accounting technique for Bitcoin that utilize
dispersed ledger technology. The blockchain technology has the ability to track the existent
transactions minus any central record-keeping. On the same note, it is not possible to
retroactively interfere with record, not unless the entire blocks that come after and without the
collusion of the network. As a result of its excellent capability in the financial service technology
in managing cryptocurrency transactions, blockchain technology has in the recent past found its
way in a wide range of solutions in different sectors with healthcare being one of them. Statistics
have found that healthcare experts are focusing their direction toward blockchain because of the
technologies effectiveness and probable challenges of blockchain in data validation, integrity and
value transfer minus any delay and loss on the medical supply chain (Mertz, 2018).
Research has shown that the opportunities to influence blockchain in the healthcare sector are
exponential (Randall, Goel, & Abujamra, 2017). Indeed, blockchain is a groundbreaking high-
tech that has allowed the healthcare industry to secure, decentralize as well as sharing of data and
transactions across a range of entities. Consequently, blockchain technology has aided in
transforming the healthcare of the present day. For instance, the most enticing possibility of
blockchain is that it will be significant milestone that has securely facilitated the distribution of
Electronic Health Records (HER) information across different organizations. In this sense,

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blockchain could be used to streamline billing and claims management, optimize pharmaceutical
supply chain, reduce fraud and centralize clinical tests and outcomes.
Problem Statement
The healthcare industry experiences a number of challenges such as lack of centralized
drug traceability, clinical tests, and patient data management. In the pharmaceutical sector
clinical tests are designed to test the efficacy and tolerance of a product on a group of patients for
purposes of validating or invalidating hypotheses. Generally, this process takes a number of
years and the results are key to the future of the drug. Similarly Pharmaceutical Corporation
invest huge sums of money hence a non-conclusive result could lead to a great monetary setback.
While the significance of the clinical tests results is high, fraud is not a common phenomenon.
Nevertheless, it is not simple to approximate the frequency. Undeniably, individuals that commit
fraud are unlikely to admit what they have done although the problem is less-reported. The use
of blockchain in clinical test would help to curb any fraudulent practices because it has the
ability to decline the risk of data fraud. In the process trustworthy results and protocols would be
established and published facilitating the replication of the research and collaboration in the
scientific community.
Research Objectives and Questions
The primary objective of this paper is to investigate how the use of blockchain
technology will helps the healthcare industry to improve data accuracy, clinical tests, electronic
medical records and data sharing. It is worthwhile to appreciate and embrace blockchain tech
aspects in the healthcare setting to provide a secure ad efficient data sharing systems across all
Australian healthcare facilities. The objective for this proposal include: