How Blockchain Helps in Developing Value-based Healthcare Systems

Hacker Noon May 31, 2019
M. Anas

Current Healthcare System: ‘Volume over Value’

Privatization of healthcare was once seen as a boon to patients who can pay for the cost of treatment. However, it transformed the novel services of healthcare that have the primary purpose of saving the lives of the people to a business where ‘volume matters more.’ Majority of today’s healthcare system is volume driven — a system in which providers are incentivized for providing more treatments and prescribing more medication, at the expense of the patient’s health.

Is such a system sustainable?

With the increase in the elderly population, chronic diseases, and cost of treatment, the volume-based system is destined to crumble. In the coming years, more number of people would not be able to access...