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Blockchain in Healthcare Use Cases

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Blockchain technology is garnering widespread adoption and inclusion in every industrial sector. Despite acquiring immense popularity through the financial sphere, it has a variety of opportunities that has created a huge hype around the healthcare industry, encompassing everything from research and logistics to relations between practitioners and their patients.

As the healthcare sphere directly impacts the quality of our lives, it has to be a prime priority in terms of digital transformation through blockchain. As a result, healthcare organizations are looking to partner with blockchain consultants to facilitate the adoption of this technology in healthcare projects.

Research and Markets predict that the global blockchain technology market in the healthcare industry is expected to exceed $500 million with a CAGR of 61.4% by 2022. According to IDC, 55% of all healthcare applications will employ blockchain for commercial purposes by 2025.

There are numerous ways through which Blockchain technology in healthcare can yield positive results for the industry. Let’s know how blockchain intertwines with healthcare through the following use-cases.

  • Drug Traceability

Counterfeit drugs are a major issue in the pharmaceutical industry. Bussinseese associated with healthcare is vulnerable to lose colossal funds due to counterfeiting drugs. Also, fake drugs can kill patients. Data remains unalterable on the blockchain. It becomes easier to discern the fraudulent activity, identify real prescriptions from the fake ones along with the source of drugs. It is because the data remains unalterable until prescription issuance or drug distribution is introduced. Hence, it can bring about positive results of blockchain, thereby preventing and tracing the misused drugs.

  • Patient Data Management and Sharing

The Healthcare system often struggles with data siloes, which implies that patients and their care providers lack complete medical histories. The blockchain empowers the data management system to store overall medical records, including diagnosis, previous treatment regimens, examination results and even the measurements noted by personal smart devices. Thus, patients and doctors can always access medical data and treatment details without allowing any third party like an insurance company to get the information. 

  • Tracking Clinical Trials and Research
    Clinical trials involve multiple parties like study subjects, study sponsors, drug manufacturers, medical device providers, doctors, analysts, researchers, etc. A medical trial needs privacy with secured data exchange. Incorporating blockchain in clinical trials will result in time-stamping of all documents for safe storage. These documents consist of project proposals, research design, surveys, blood tests, and informed consent of the participating parties. Blockchain can add credibility to the research performed, as every document on the blockchain becomes verifiable, reduces audit costs and the possibility of theft datasets. 
  • Supply Chain Management

The healthcare supply chain is a complex process due to heavy regulations and challenging quality control and compliance. Using blockchain can overcome all these logistical issues, thereby imparting smooth functioning of the overall industry. The interoperability between blockchain networks results in drug traceability from the manufacturer to the end consumer. The immutable nature of blockchain ensures easy tracking, quality control and compliant levels.

  • Incentivization Through Micropayments

Blockchain also plays a crucial role in facilitating health data monetization for people willing to share their medical data for research purposes in return for a financial reward. Blockchain can then store their health information and facilitate transactions via cryptocurrency payments. Also, micropayments are value-based models that can reward patients if they follow doctors’ advice and prescribed lifestyles. Blockchain’s smart contracts enable these micropayments to encourage patient behavior and offer incentives to pursue a specific care plan or exchange data concerning treatment, review and reach the patient from time to time.

  • Improvised Billing Audatability

The existing processes are inadequate in detecting intentional and unintentional fraudulent activities related to billing. These cases may arise due to human mistakes, overdue payments, and fraud committed with stolen patient identities. Blockchain can go miles towards improving billing transactions by minimizing denied claims, quickly reporting underpayments, reducing human errors and eliminating blatant theft.

  • Tracking Service Flow

The flow of medical services could arise various issues concerning insurance, claims and donations. Insurance frauds like under treatment or overtreatment can claim lives and spill into billions of dollars. Donations may wind up in the wrong hands with financial mishaps due to a lack of transparency in the existing systems. With blockchain, smart contracts can remove all unwanted intermediaries in insurance and claiming processes. When a patient undergoes a process covering insurance, the smart contracts get triggered to transfer money from payer to care providers.

  • Credentialing and Verification

Blockchain acts as a trustworthy database and can be used as a credential verification system for medical institutions on hiring a physician, practitioner or medical staff. Checking the candidate’s name in a blockchain incorporated system will ensure the relevant experience, licenses and competency to work with patients. Blockchain being tamper-proof and immutable can eliminate the possibility of fake documents. Also, the information about the drug’s origin will ensure the quality provided by the registered pharmacy licensed to produce medicines.

Blockchain technology and healthcare make a promising match, where one of them deals with sensitive information and the other safeguards it with secured data sharing. Leveraging blockchain use cases in healthcare showcases plentiful benefits, which will foster the improvement of the entire healthcare ecosystem.

With such growing traction, various blockchain companies have marked their involvement in healthcare. Choosing a leading blockchain development company can assist you in approaching your desired blockchain-powered solution. Combining the experience and expertise in custom healthcare software development, you can build customized solutions including mHealth apps, patient engagement and monitoring softwares and EHR (Electronic Health Records)softwares for streamlining the medical workflows with emerging technologies.

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The Debut of Clever.AI was Revealed by CleverTap

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Clever.AI, the AI engine of CleverTap, one of the top all-in-one platforms for customer engagement and retention, was launched today. Through Clever.AI, CleverTap aims to provide brands with the next generation of AI capabilities needed to develop a human-like understanding of their customers and effectively deliver personalized experiences that increase customer lifetime value.

Brilliant.Predictive, generative, and prescriptive AI are the three main pillars upon which AI is based. Brilliant.These three pillars work together to revolutionize consumer engagement strategies and create more intelligent and effective customer interactions thanks to artificial intelligence (AI).

Clever.AI Gives Brands the Ability to Become:

Perceptive: Equipped with Predictive AI powers, it predicts exact business results, assisting brands in anticipating consumer demands. Astute.The TesseractDBTM, a proprietary technology from CleverTap, powers AI insights by ensuring data granularity over an extended lookback period, improving prediction accuracy, and empowering brands to make well-informed decisions that boost marketing ROI.

Empathetic: Cleverly advancing GenAI.AI creates content that speaks to people on a human level by fusing creativity and emotional intelligence. By using empathy, brands can increase conversion rates and provide hyper-personalized experiences for customers.

Actionable: By utilizing Prescriptive AI capabilities, it helps brands instantly determine the best engagement strategies to maximize conversions throughout the customer journey.

Burger King’s Digital Product Manager, Peter Takacs, gave it a 10 for usability and a wide range of potential applications. “Our marketing campaigns were improved by our ability to quickly and easily experiment with different options before settling on the best one.” It ushers in a new age of ongoing experimentation.

Chief Product Officer and co-founder of CleverTap Anand Jain stated, “We’re excited to introduce Clever.AI is proof of our commitment over the past few years to setting the standard for early adoption of cutting-edge technology to revolutionize customer interaction. CleverTap’s All-in-One engagement platform will continue to be innovated by Clever.As a result of deeper persona profiling and advanced product analytics, AI is improving its predictive precision and strengthening its capacity to recommend intelligent customer experiences. This enables brands to create more successful campaigns that are outcome-driven and highly personalized for each and every customer interaction.

Brands have already seen an increase in conversion with noticeably greater operational efficiency thanks to Clever.AI. They saw a 3x improvement in click-through rates (CTRs), a 36% increase in conversion rates, and a 35% increase in operational efficiency. They also saw an increase in other metrics like purchases and average order values (AOVs). Additionally, by streamlining content creation, experimentation at scale, and campaign roll-outs, Clever.AI improved operational efficiency. Prominent companies like TouchnGo, Swiggy, and Burger King have benefited from the efficiency gains made by Clever.AI in their campaigns.

At its Spring Release ’24 event, which takes place from May 6–9, CleverTap will present its new AI capabilities through a series of stimulating sessions on how AI can improve the intelligence, effectiveness, and engagement of campaigns for brands.

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Oracle Introduces Database 23ai, Adding Artificial Intelligence to Enterprise Data

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Oracle has released Oracle Database 23ai, a new database technology that incorporates artificial intelligence. The release, which is now as a suite of cloud services, is concentrated on optimizing application development, supporting crucial workloads, and simplifying the use of AI.

One of its primary features, Oracle AI Vector Search, simplifies data search by letting users look up documents, photos, and relational data using conceptual content rather than precise keywords or data values.

AI Vector Search removes the need to transfer or duplicate data in order to process AI by enabling natural language queries on confidential business information stored in Oracle databases. The integration of AI in real-time with databases improves operational effectiveness, security, and efficiency.

Oracle Database 23ai is accessible via Oracle Cloud Infrastructure (OCI) on Oracle Database@Azure, Oracle Exadata Database Service, Oracle Exadata Cloud@Customer, and Oracle Base Database Service.

Oracle’s Executive Vice President of Mission-Critical Database Technologies, Juan Loaiza, emphasized the importance of Oracle Database 23ai and called it a revolutionary tool for multinational corporations.

“Building intelligent apps, increasing developer productivity, and managing mission-critical workloads is made simple for developers and data professionals by AI Vector Search in conjunction with new unified development paradigms and mission-critical capabilities,” the speaker stated.

Three major improvements have been made to Oracle Database 23ai: OCI GoldenGate 23ai for real-time data replication across heterogeneous stores, AI Vector Search for semantic search, and Oracle Exadata System Software 24ai for accelerated AI processing. By utilizing JSON and graph data models, mission-critical data security, and availability are guaranteed, and developers are empowered to create intelligent apps.

Customers may anticipate higher data security, more rapid enterprise application innovation, and increased operational efficiency with Oracle’s ongoing developments in AI-integrated databases. A strong foundation for companies embracing AI technologies is promised by Oracle Database 23ai, which marks a substantial advancement in AI-driven database systems.

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Google Introduces Gemini AI on Android Devices for Singapore Users

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Singapore is among the main beneficiaries of Google’s Gemini Mobile App, which enhances the AI capabilities of Android-based smartphones. With Gemini AI now supporting more languages and regions, this rollout is a part of Google’s larger strategy to make its advanced AI available to a global audience.

The Gemini app is now available for direct download or Google Assistant access for Android users in Singapore. The app works with Android phones running Android 12 or later and having at least 4 GB of RAM. On iOS devices running iOS 16 or later, users can interact with Gemini through a dedicated tab in the Google app.

With Gemini AI’s flexible and intuitive design, users can get help by speaking, typing, or uploading an image. To illustrate Google’s goal of developing a truly conversational and multimodal AI assistant, you could, for example, take a picture of a flat tire and receive detailed instructions on how to fix it, or ask for assistance writing a thank-you note.

Google is incorporating Gemini more thoroughly into its ecosystem in addition to the stand-alone app. With the help of new extensions, the AI can now effortlessly search through a wide range of Google services, including YouTube, Gmail, Docs, Drive, Maps, and even Google Flights and Hotels, to offer thorough support. Gemini’s ability to combine travel dates, lodging, and activities into a single itinerary based on user emails and preferences makes it an especially helpful tool for complicated tasks like organizing travel plans.

Additionally, Google is making using Gemini on desktops easier. By typing “@gemini” after their question, users can start direct inquiries from the address bar of the Chrome browser. This results in a rapid launch of the gemini.google.com page, which further integrates Gemini’s AI capabilities across platforms and shows answers right away.

Google’s latest developments improve the daily digital experience for users in Singapore and possibly globally, while also advocating for increased accessibility to AI tools.

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