Web3 is an exciting venture that aims to disrupt every sector of the economy. As blockchain separates technology infrastructure and governance, Web3 is expected to usher in a new era free of monopolies and a competitive landscape. Across industries, including healthcare, I expect these developments to spur innovation and efficiency in the sharing of data.
It’s not there yet. However, it’s worthwhile to examine what Web3 healthcare can do and how close we are to reaping the full benefits of Web3-powered decentralization of healthcare data.
How does Web3 healthcare differ from Web2?
The Web2 characteristic
Health-related data has grown at an exponential rate in our current Web2, and this trend is expected to continue. Patients’ medical symptoms, diagnoses, and medications are all better documented than ever before.
Electronic health records are kept in a database. A wealth of information has been gathered by doctors, who can now use new systems and technological advancements to better connect patient symptoms with treatment options in order to deliver the best possible care.
Despite these gains, most Web 2.0-based healthcare is still focused on creating information silos, ignoring patients’ ownership of their data, and rushing to centralize, mainly for the benefit of the shareholder.
Then, the next generation always wants to focus on improving the security and quality of healthcare services. When it comes to the sharing, exchanging, or selling of data, decentralized networks and edge computing provide the patient with greater ownership control, Web3 eliminates the middleman or third parties and provides a higher level of security.
Web3 healthcare’s revolution
Healthcare has benefited enormously from Web 2.0, but the natural evolution of the Internet is causing us to face new challenges related to user privacy and data breaches. We can expect greater progress in healthcare safety and effectiveness at scale now that we have Web3 and blockchain technology as the foundational technologies.
With Web3, we’re entering a new era of proactive healthcare, where we can listen to and learn from the data we collect. There will be fewer data breaches, greater freedom, and a greater ability to run applications on a decentralized platform as a result of Web3 in healthcare. A healthcare sector, ultimately, will be well-regulated, and bring both safety and hope to its citizens.
How can Web3 Revolutionize Healthcare?
For patients: Personalized care and treatments
For a long time, data was all that companies needed to analyze and produce significant results that could be implemented in practice.
In contrast to Web2, Web3 promises community ownership and involvement through open-source code that governs network governance and value generation. Health care options from around the world could be easily and securely accessed by patients thanks to Web3’s promise of secure, online, real-time connections between users.
If a person’s health data is similar to that of others (anonymously), the AI will compare you with those people. A doctor can access not only your previous medical records, but also those of a machine learning algorithm. They can use the blockchain to analyze genetic data, medical conditions, and health data from a diverse group of people.
As a result, they will gravitate toward personalized care and treatment options that are most effective for them and perhaps discover life-changing treatments at a faster pace. All of this can be accomplished while maintaining complete control over your personal information—being private, encrypted, anonymous, and secure.
For employees: Healthcare management systems
The hospital administration systems are just full of disjointed, disorganized, and ineffective practices. Additionally, the time it took for medical staff to learn how to use or request new equipment was appalling, as was the clearing of paperwork for purchases.
Frankly speaking, the current systems are unable to handle the ever-increasing volume and variety of highly confidential information that is being exchanged. This is where Web3 comes in handy.
As a large amount of time is spent on administrative duties, the dramatic improvement in communicative efficiency should directly address this problem. Web3 healthcare results in an incredible optimization of resources for all types of medical institutions. The only thing needed is connectivity – which has already existed in Web3.
Using web3 healthcare, employers, and employees should be able to fully automate the provision of personalized health benefits to ensure maximum value. Rewarding employees in a timely manner allows employers to keep track of their employees’ satisfaction and use that information in future evaluations.
For companies: Increase popularity through Innovative cures
A company would be largely beneficial when it comes to finding a new way to cure a disease. Again, these are often only enabled when there is enough data to analyze. With Web3, it’s simply possible.
For example, when a patient is being diagnosed, 3D imaging technology can show the exact X-ray images in a three-dimensional view to give a better idea of what is going on. Then, this data is used to make a three-dimensional (3D) image of the patient’s anatomy, which gives a lot of information about just one person.
If, in the real world, thousands of patients come and go every day and this data is shared around the world, doesn’t that sound promising enough?
For a whole: Automated hospital system
When it comes to revolution, which is re-imagining healthcare from the ground up, the concepts of decentralization, blockchain, and the patient-centered healthcare model are already in place.
Considering this case:
- Once you, as the patient, have noted in the reminder system that you will revisit on a particular day, it may send an alert telling them to use a nearby Uber. If an Uber is aware that a patient drop is necessary, for instance, they will charge a lower rate for the drop, saving the hospital money. Furthermore, the Uber driver is also aware of your health condition and can act accordingly if needed.
- When you arrive at the center, your medical history is already pulled up and sent to the doctor’s devices, thanks to the self-service check-in kiosk. With all the data that has been gathered, doctors can get a better sense of a patient’s current condition and make recommendations for the most suitable treatments.
- Using an EHR and a pharmacy system, doctors can generate and feed learning to an automated treatment plan or simply generate a prescription with the help of a system. As a result, patients can still receive the precise treatment and medical description they require without having to meet with a doctor.
As a result, employees are doing less work and handing it over to computers, but the company’s productivity remains the same. That time can be used for other tasks, such as research or focusing on the most difficult cases. In the case of customers, they are definitely better off with all the convenience that Web3 healthcare brings.
To conclude, this new Internet revolution should provide a variety of benefits, not only for Web3 healthcare but the entire industry. While not currently in use, this technology shows promise and will likely be implemented in the near future.
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