Survey: Most Medical Group Execs See Promising Role For Blockchain

A new survey of the health care industry has found that executives from hospitals, managed care organizations and other groups are moving to explore blockchain applications in their field.

Black Book Research queried 88 health care payers (or institutions that finance medical services) and 276 technology executives, managers and IT specialists from the field, according to the report, which was published on October 3.

Among the findings: 90 percent of managers and IT specialists from medical groups felt blockchain could help alleviate problems in the sector, including issues around recordkeeping, network connectivity and information privacy. The study also revealed that 76 percent of payers are either considering blockchain as a tech solution or are in the process of deploying systems that utilize it.

Still, the responses indicate that the industry isn't moving all that quickly to embrace the technology.

For example, only a small percentage of payers - 14 percent, according to the data – "are involved in trial deployments in some form currently."

Further, just 9 percent of providers that responded to the survey indicated that they expect their companies to pursue blockchain integrations by the second quarter of next year. By comparison, 70 percent of payers said their firms anticipate doing so by the first quarter of 2019.

The survey also suggests that the possible costs involved remain a barrier. Eighty-eight percent of providers said they would not commit to an integration deadline because of the "undetermined cost of blockchain solutions."

Hospital image via Shutterstock