Blockchain Technology in Global Healthcare, 2017–2025

Blockchain Technology in Global Healthcare, 2017–2025

Healthcare Industry Assesses Blockchain Potential to Optimize Healthcare Workflows and Improve Outcome-based Care Delivery Models

RELEASE DATE
23-Jun-2017
REGION
Global
Research Code: K1DB-01-00-00-00
SKU: HC02834-GL-MR_20298

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Description

Blockchain technology, with its ubiquitous security infrastructure for seamless health data exchange, holds potential to eliminate the burden and cost of health data reconciliation and facilitate interoperability. Emerging blockchain systems promise to unlock new economic advantages by disintermediating high-cost gatekeepers and automating transactional services across healthcare workflows (e.g., claim adjudication, billing management, RCM, drug supply chain).

Increasing pricing pressure to decrease healthcare cost globally and digitization of care delivery models are transitioning the industry toward a much-anticipated personalized treatment paradigm. With these health systems, payers and drug and device manufacturers equally urgently require a secure connected health IT ecosystem to manage healthcare data and promote value-based care.

At its core, blockchain offers the potential of a shared platform that decentralizes health data, ensuring access control, authenticity, and integrity of protected health information. Further, the blockchain-based distributed network consensus with cryptography techniques provides an additional layer of trust to minimize cybersecurity threats for healthcare IT systems. This never-before blockchain-based trusted workflow with a “single source of truth” presents the healthcare industry with radical new possibilities for outcome-based care delivery and reimbursement models.

Despite the hype around blockchain, for many people (across different industries), the blockchain concept remains difficult to grasp—which makes it one of the most misunderstood technologies of 2017. Blockchain technology may not be the panacea for healthcare industry challenges but it holds the potential to save billions of dollars by optimizing current workflows and the disintermediation of some high-cost gatekeepers.

Research Scope
The research service analyzes the key trends and developments around blockchain technology and captures the essential building blocks for implementing a healthcare-focused blockchain ecosystem in the next 5–10 years. Differentiating the hype from reality, the study discusses blockchain technology’s most potential applications in some of the pressing needs of the healthcare industry—such as health data interoperability, cybersecurity, insurance fraud management, and drug supply chain provenance.

The study also provides a global flavor around blockchain technology deployment and discusses current adoption trends across major healthcare-focused use cases—such as the adoption timeline, growth opportunities, implementation challenges, government and commercial initiatives, select collaboration or deals, and the key companies and consortiums to watch.

Finally, the study provides strategic imperatives and recommended business models to foster healthcare-focused blockchain ecosystem partnerships for future implementation on a large scale across healthcare use cases.

Key Questions This Study Will Answer
•     What is blockchain technology and what are its implications for the healthcare industry?
•     Who are the key stakeholders in the healthcare blockchain ecosystem?
•     What is the convergence potential for blockchain with emerging healthcare technologies?
•     What are the most promising application areas of blockchain for the healthcare industry?
•     What are the adoption and growth trends for these use cases?
•     Which are the leading companies with healthcare-deployable blockchain solutions?
•     What are the possible business models for blockchain technology deployment in healthcare applications?
•     What are the challenges for implementing blockchain in healthcare?

RESEARCH: INFOGRAPHIC

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Table of Contents

Executive Summary

Key Questions

6 Big Themes for Blockchain Technology in Healthcare

Blockchain Adoption Timeline and Top Growth Opportunities across Healthcare Application/Use Cases

Blockchain in Healthcare—Top 5 Growth Opportunities by Use Case

Blockchain in Healthcare—Implementation Challenges by Use Case

Blockchain—Ecosystem Participants for the Healthcare Industry

Blockchain Application Potential with Multiple Healthcare Stakeholders

Blockchain Technology—Impact on Key Health IT Systems and Vendors

Blockchain Convergence Potential with Emerging Technologies

Research Scope

What is Blockchain?

Blockchain—Definition and Core Properties

Blockchain—Overview of Transaction Flow

Timeline—Blockchain Evolution Journey

Common Blockchain Terminologies

Blockchain Technology Vendor Ecosystem and Solution Layers

Blockchain Network Types and Comparison of Consensus Approaches

Blockchain Major Prototypes and their Attributes

Blockchain across Industry Verticals

Blockchain Startup Landscape—Across Industries and Use Cases

Blockchain Key Investments by Major Segment and Region

Blockchain Technology—Impact on Key Industry Sectors

Expected Cost Reduction by Introducing Blockchain Technology

Blockchain Cost Savings Potential across Business Functions

Blockchain—Ecosystem Participants for the Healthcare Industry

Adoption Timeline—Blockchain Technology across Major Healthcare Applications/Use Cases

Use Case 1—Healthcare Data Exchange and Interoperability

Use Case 1—Blockchain Potential Impact across Healthcare Data Exchange and Interoperability Value Chain

Use Case 2—Claims Adjudication and Billing Management

Use Case 2—Blockchain Potential Impact across Health Insurance Value Chain

Use Case 3—Drug Supply Chain Integrity and Remote Auditing

Use Case 3—Blockchain Potential Impact across Drug Supply Chain

Use Case 4—Clinical Trials and Population Health Research

Use Case 4—Blockchain Potential Impact across Drug Development Value Chain

Use Case 5—Cyber Security and Healthcare IoMT

Use Case 5—Blockchain Potential Impact across IoMT Value

Top 5 Healthcare Blockchain Start-ups to Watch—Guardtime

Top 5 Healthcare Blockchain Start-ups to Watch—Gem Health

Top 5 Healthcare Blockchain Start-ups to Watch—PokitDok Inc.

Top 5 Healthcare Blockchain Start-ups to Watch—Patientory, Inc.

Top 5 Healthcare Blockchain Start-ups to Watch—iSolve, LLC

Select Blockchain Vendors with Healthcare Use Cases

Role of Blockchain in Evolving Care Delivery Models

Blockchain Technology Life Cycle and Innovation Adoption Roadmap

Healthcare Blockchain Adoption Life Cycle and Preferred Network Type

Major Healthcare Blockchain Consortium to Watch—Hashed Health

Major Healthcare Blockchain Consortium to Watch—Hyperledger Healthcare Working Group

Blockchain Possible Business Models across Healthcare Use Cases

Blockchain in Healthcare—Select Collaboration Deals to Watch

Blockchain Implementation Challenges in Healthcare

Industry Speaks—Comments from Key Opinion Leaders

Legal Disclaimer

Company Profile—Bitcoin

Company Profile—Ethereum

Company Profile—Hyperledger

Types of Digital Currencies

Definitions

List of Figures
  • 1. Blockchain Technology for Healthcare Industry: Top 5 Growth Opportunities by Use Case, Global, 2016–2025
  • 2. Blockchain Technology for Healthcare Industry: Implementation Challenges by Use Case, Global, 2016–2025
  • 3. Blockchain Technology Revolutionizing Healthcare Industry: Transaction Overview, Global, 2016–2025
  • 4. Blockchain Technology Revolutionizing Healthcare Industry: Industry Verticals, Global, 2016–2025
  • 5. Blockchain Technology Revolutionizing Healthcare Industry: Major Investments, Global, 2011–2017(Q1)
  • 6. Blockchain Technology Adoption Timeline Across Major Healthcare Applications/Use Cases, Global, 2016–2025
  • 7. Blockchain Opportunity for Healthcare Industry: Healthcare Data Exchange and Interoperability, Global, 2016–2025
  • 8. Blockchain Opportunity for Healthcare Industry: Claims Adjudication and Billing Management, Global, 2016–2025
  • 9. Blockchain Use cases and Benefits: Health Insurance Value-Chain and Key Activities*, Global, 2016–2025
  • 10. Blockchain Opportunity for Healthcare Industry: Claims Adjudication and Billing Management, Global, 2016–2025
  • 11. Blockchain Use Cases and Benefits: Drug Supply Chain and Key Entities Involved*, Global, 2016–2025
  • 12. Blockchain Opportunity for Healthcare Industry: Population Health Research and Pharma Clinical Trails, Global, 2016–2025
  • 13. Blockchain Use Cases/Benefits: Drug Development Value Chain by Major Activity*, Global, 2016–2025
  • 14. Blockchain Opportunity for Healthcare Industry: CyberSecurity and Healthcare IoMT, Global, 2016–2025
  • 15. Blockchain Application Segment for Healthcare Industry, Global, 2016–2025
  • 16. Blockchain Technology Revolutionizing Healthcare Industry: Digital Currencies, Global, 2016–2025
List of Charts
  • 1. Blockchain Adoption Timeline by Major Healthcare Application/Use Case, Global, 2016, 2018, 2021, and 2025
  • 2. Blockchain Technology for Healthcare Industry: Blockchain Ecosystem, Global, 2016–2025
  • 3. Blockchain Impact on HIT Systems: Threat Mitigation Strategy/Challenge Impact Assessment Grid, Global, 2017–2025
  • 4. Blockchain Technology: Timeline and Elements of Decentralized Computing, Global, 1970–2016
  • 5. Blockchain Technology Revolutionizing Healthcare Industry: Terminologies, Global, 2016–2025
  • 6. Total Investments in Blockchain by All Segments, Global, 2012–2017 Q1
  • 7. Total Investments in Blockchain by Region, Global, 2012–2017 Q1
  • 8. Blockchain Technology Impact Analysis across Select Industry Sectors, Global, 2017–2025
  • 9. Blockchain Technology Cost Savings Potential (All Industry): Average Asset Management Cost Breakdown by Function and Blockchain Applicability, Global, 2017
  • 10. Blockchain Technology for Healthcare Industry: Blockchain Ecosystem, Global, 2016–2025
  • 11. Healthcare Blockchain Technology Life Cycle Positioning: Innovation Adoption Map, Global, 2017
  • 12. Healthcare Blockchain Adoption Life Cycle: Percent Expected Adoption by Innovation Life Cycle across Healthcare Applications, Global, 2017, 2020, 2025
  • 13. Blockchain Technology: Preferred Blockchain Networks for Healthcare Use Cases, Global, 2017–2025
Listen to Key Data Points
Related Research
Blockchain technology, with its ubiquitous security infrastructure for seamless health data exchange, holds potential to eliminate the burden and cost of health data reconciliation and facilitate interoperability. Emerging blockchain systems promise to unlock new economic advantages by disintermediating high-cost gatekeepers and automating transactional services across healthcare workflows (e.g., claim adjudication, billing management, RCM, drug supply chain). Increasing pricing pressure to decrease healthcare cost globally and digitization of care delivery models are transitioning the industry toward a much-anticipated personalized treatment paradigm. With these health systems, payers and drug and device manufacturers equally urgently require a secure connected health IT ecosystem to manage healthcare data and promote value-based care. At its core, blockchain offers the potential of a shared platform that decentralizes health data, ensuring access control, authenticity, and integrity of protected health information. Further, the blockchain-based distributed network consensus with cryptography techniques provides an additional layer of trust to minimize cybersecurity threats for healthcare IT systems. This never-before blockchain-based trusted workflow with a “single source of truth” presents the healthcare industry with radical new possibilities for outcome-based care delivery and reimbursement models. Despite the hype around blockchain, for many people (across different industries), the blockchain concept remains difficult to grasp—which makes it one of the most misunderstood technologies of 2017. Blockchain technology may not be the panacea for healthcare industry challenges but it holds the potential to save billions of dollars by optimizing current workflows and the disintermediation of some high-cost gatekeepers. Research Scope The research service analyzes the key trends and developments around blockchain technology and captures the essential building
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Table of Contents | Executive Summary~ || Executive Summary~ || Key Questions~ || 6 Big Themes for Blockchain Technology in Healthcare~ || Blockchain Adoption Timeline and Top Growth Opportunities across Healthcare Application/Use Cases~ || Blockchain in Healthcare—Top 5 Growth Opportunities by Use Case~ || Blockchain in Healthcare—Implementation Challenges by Use Case~ || Blockchain—Ecosystem Participants for the Healthcare Industry~ || Blockchain Application Potential with Multiple Healthcare Stakeholders~ || Blockchain Technology—Impact on Key Health IT Systems and Vendors~ || Blockchain Convergence Potential with Emerging Technologies~ | Introduction to Blockchain Technology~ || Research Scope~ || What is Blockchain?~ || Blockchain—Definition and Core Properties~ || Blockchain—Overview of Transaction Flow~ || Timeline—Blockchain Evolution Journey~ || Common Blockchain Terminologies~ || Blockchain Technology Vendor Ecosystem and Solution Layers~ || Blockchain Network Types and Comparison of Consensus Approaches~ || Blockchain Major Prototypes and their Attributes~ || Blockchain across Industry Verticals~ || Blockchain Startup Landscape—Across Industries and Use Cases~ | Blockchain Technology~ || Blockchain Key Investments by Major Segment and Region~ || Blockchain Technology—Impact on Key Industry Sectors~ || Expected Cost Reduction by Introducing Blockchain Technology~ || Blockchain Cost Savings Potential across Business Functions~ | Blockchain in Healthcare—Overview and Opportunities~ || Blockchain—Ecosystem Participants for the Healthcare Industry~ || Adoption Timeline—Blockchain Technology across Major Healthcare Applications/Use Cases~ || Use Case 1—Healthcare Data Exchange and Interoperability~ || Use Case 1—Blockchain Potential Impact across Healthcare Data Exchange and Interoperability Value Chain~ || Use Case 2—Claims Adjudication and Billing Management~ || Use Case 2—Blockchain Potential Impact across Health Insurance Value Chain~ || Use Case 3—Drug Supply Chain Integrity and Remote Auditing~ || Use Case 3—Blockchain Potential Impact across Drug Supply Chain~ || Use Case 4—Clinical Trials and Population Health Research~ || Use Case 4—Blockchain Potential Impact across Drug Development Value Chain~ || Use Case 5—Cyber Security and Healthcare IoMT~ || Use Case 5—Blockchain Potential Impact across IoMT Value~ | Key Companies to Watch~ || Top 5 Healthcare Blockchain Start-ups to Watch—Guardtime~ || Top 5 Healthcare Blockchain Start-ups to Watch—Gem Health~ || Top 5 Healthcare Blockchain Start-ups to Watch—PokitDok Inc.~ || Top 5 Healthcare Blockchain Start-ups to Watch—Patientory, Inc.~ || Top 5 Healthcare Blockchain Start-ups to Watch—iSolve, LLC~ || Select Blockchain Vendors with Healthcare Use Cases~ | Blockchain in Healthcare—Business Models and Key Conclusions~ || Role of Blockchain in Evolving Care Delivery Models~ || Blockchain Technology Life Cycle and Innovation Adoption Roadmap~ || Healthcare Blockchain Adoption Life Cycle and Preferred Network Type~ || Major Healthcare Blockchain Consortium to Watch—Hashed Health~ || Major Healthcare Blockchain Consortium to Watch—Hyperledger Healthcare Working Group~ || Blockchain Possible Business Models across Healthcare Use Cases~ || Blockchain in Healthcare—Select Collaboration Deals to Watch~ || Blockchain Implementation Challenges in Healthcare~ || Industry Speaks—Comments from Key Opinion Leaders~ || Legal Disclaimer~ | Appendix~ || Company Profile—Bitcoin~ || Company Profile—Ethereum~ || Company Profile—Hyperledger~ || Types of Digital Currencies~ || Definitions~ | The Frost & Sullivan Story~
List of Charts and Figures 1. Blockchain Technology for Healthcare Industry: Top 5 Growth Opportunities by Use Case, Global, 2016–2025~ 2. Blockchain Technology for Healthcare Industry: Implementation Challenges by Use Case, Global, 2016–2025~ 3. Blockchain Technology Revolutionizing Healthcare Industry: Transaction Overview, Global, 2016–2025~ 4. Blockchain Technology Revolutionizing Healthcare Industry: Industry Verticals, Global, 2016–2025~ 5. Blockchain Technology Revolutionizing Healthcare Industry: Major Investments, Global, 2011–2017(Q1)~ 6. Blockchain Technology Adoption Timeline Across Major Healthcare Applications/Use Cases, Global, 2016–2025~ 7. Blockchain Opportunity for Healthcare Industry: Healthcare Data Exchange and Interoperability, Global, 2016–2025~ 8. Blockchain Opportunity for Healthcare Industry: Claims Adjudication and Billing Management, Global, 2016–2025~ 9. Blockchain Use cases and Benefits: Health Insurance Value-Chain and Key Activities*, Global, 2016–2025~ 10. Blockchain Opportunity for Healthcare Industry: Claims Adjudication and Billing Management, Global, 2016–2025~ 11. Blockchain Use Cases and Benefits: Drug Supply Chain and Key Entities Involved*, Global, 2016–2025~ 12. Blockchain Opportunity for Healthcare Industry: Population Health Research and Pharma Clinical Trails, Global, 2016–2025~ 13. Blockchain Use Cases/Benefits: Drug Development Value Chain by Major Activity*, Global, 2016–2025~ 14. Blockchain Opportunity for Healthcare Industry: CyberSecurity and Healthcare IoMT, Global, 2016–2025~ 15. Blockchain Application Segment for Healthcare Industry, Global, 2016–2025~ 16. Blockchain Technology Revolutionizing Healthcare Industry: Digital Currencies, Global, 2016–2025~| 1. Blockchain Adoption Timeline by Major Healthcare Application/Use Case, Global, 2016, 2018, 2021, and 2025~ 2. Blockchain Technology for Healthcare Industry: Blockchain Ecosystem, Global, 2016–2025~ 3. Blockchain Impact on HIT Systems: Threat Mitigation Strategy/Challenge Impact Assessment Grid, Global, 2017–2025~ 4. Blockchain Technology: Timeline and Elements of Decentralized Computing, Global, 1970–2016~ 5. Blockchain Technology Revolutionizing Healthcare Industry: Terminologies, Global, 2016–2025~ 6. Total Investments in Blockchain by All Segments, Global, 2012–2017 Q1~ 7. Total Investments in Blockchain by Region, Global, 2012–2017 Q1~ 8. Blockchain Technology Impact Analysis across Select Industry Sectors, Global, 2017–2025 ~ 9. Blockchain Technology Cost Savings Potential (All Industry): Average Asset Management Cost Breakdown by Function and Blockchain Applicability, Global, 2017~ 10. Blockchain Technology for Healthcare Industry: Blockchain Ecosystem, Global, 2016–2025~ 11. Healthcare Blockchain Technology Life Cycle Positioning: Innovation Adoption Map, Global, 2017~ 12. Healthcare Blockchain Adoption Life Cycle: Percent Expected Adoption by Innovation Life Cycle across Healthcare Applications, Global, 2017, 2020, 2025~ 13. Blockchain Technology: Preferred Blockchain Networks for Healthcare Use Cases, Global, 2017–2025~
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Author Kamaljit Behera
Industries Healthcare
WIP Number K1DB-01-00-00-00
Keyword 1 Global Blockchain Technology
Keyword 2 Blockchain as a service
Keyword 3 Healthcare Blockchain Consortium
Is Prebook No