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Issues And Trends In Healthcare Delivery System01:29

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The issues and trends in healthcare delivery are constantly changing. The COVID-19 pandemic is one recent issue that wreaked havoc on healthcare systems, causing a shortage of healthcare workers, high demand for medicines and supplies, and increased medical expenditure due to a lack of insurance. Other issues include rising healthcare costs and care fragmentation.
Cost Containment
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Blockchain Applications in the Pharmaceutical Industry.

Mark Gaynor1, Kathleen Gillespie1, Allison Roe1

  • 1College of Social Justice and Public Health, Saint Louis University, St. Louis, Missouri, USA.

Blockchain in Healthcare Today
|May 8, 2024
PubMed
Summary

Blockchain technology can enhance the pharmaceutical industry by improving management and monitoring. Key applications include preventing counterfeit drugs and prescription misuse, optimizing supply chains, and securing clinical trials.

Keywords:
4D frameworkblockchain applicationsblockchain technologyclinical trialshealth recordsinventory systemspharmaceutical industryprescription misuse and abuse

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Area of Science:

  • Pharmaceutical Industry
  • Information Technology
  • Supply Chain Management

Background:

  • Blockchain technology presents a novel solution for the pharmaceutical sector.
  • Existing frameworks for technology adoption require adaptation for blockchain applications.
  • The pharmaceutical industry faces challenges in areas like counterfeit prevention and supply chain integrity.

Purpose of the Study:

  • To evaluate the adoption potential of blockchain technology in the pharmaceutical industry.
  • To identify and prioritize key blockchain applications based on a comprehensive framework.
  • To assess how blockchain can improve pharmaceutical industry performance.

Main Methods:

  • Utilized a 4D framework: ease of implementation, novelty, necessity, and industry fit.
  • Extended the Iansiti and Lakhani 2D framework (difficulty, novelty).
  • Ranked and scored potential blockchain applications using the 4D metrics, emphasizing necessity and ease of implementation.

Main Results:

  • Identified two main application categories: management (health records, clinical trials, inventory) and monitoring (product tracking, counterfeit prevention, supply chain optimization, prescription abuse).
  • Prioritized applications include Prescription Drug Misuse and Abuse Prevention, Counterfeit Prevention, Clinical Trial Outcomes, and Smart Contracts.
  • The framework successfully ranked applications based on their potential for successful implementation.

Conclusions:

  • Blockchain technology offers significant promise for the pharmaceutical industry.
  • Successful adoption requires applications to align with necessity, ease of implementation, stakeholder familiarity, and overall industry fit.
  • The proposed framework demonstrates blockchain's potential to enhance pharmaceutical industry performance across various domains.