Smart contracts are self-executing lines of code that run atop blockchains and are triggered once a set of predetermined conditions are met. They are used to automate the execution of online agreements without the involvement of third parties. Today, they are used across many industries, including the healthcare industry. The healthcare sector stands to benefit a lot from the widespread implementation of these self-executing programs, especially when it comes to streamlining arduous manual processes, automating bureaucratic procedures and alleviating issues caused by human error. Today, many healthcare institutions rely on highly centralized conventional management systems to handle sensitive tasks such as record keeping, transactions and correspondences. While some traditional systems can undertake some of the tasks exceptionally well, many of them are prone to failure due to limited interoperability, susceptibility to data corruption and lack of transparency.
Full story : How smart contracts can improve efficiency in healthcare.
