Part 2: How to Improve the Efficiency of Clinical Trials with Blockchain?

Clinical research is a big deal because it comes with a price tag of nearly $100 million per trial. Despite such enormous costs, clinical trials continue to be one of the most expensive aspects of modern healthcare. Randomized clinical trials (RCTs) are considered the gold standard of research and development in healthcare. They represent the foremost practices by which new techniques are assessed for efficacy and risk before they are made available for the public good. 카지노사이트

Health experts say that up to 30% of a drug's development timeline is consumed by clinical research, perhaps a major reason for its exorbitant cost. What is more alarming here, given the timeline of development, is that more than 10% of clinical research sites tasked with recruiting patients typically fail to enroll a single participant.

Blockchain for healthcare data

A safe and effective drug or medical device that can be used to prevent or treat disease to improve quality of life. Along with saving lives and creating a trusted future of healthcare, DATA is the most important value generated from a successful clinical trial.

Before a clinical trial begins and patients receive the recommended treatment, there is a vast amount of patient information and documentation that must be in safe hands. 온라인카지노 

Patient cooperation: First, getting the patient on board for the trial is a battle half won. During the trial, blockchain would streamline the process of obtaining consent from each patient. It will handle various issues (unapproved forms, invalid consent forms/non-consent for the protocol) in a decentralized network where every activity will be approved and time-stamped.

By adding a blockchain layer to existing clinical settings, data can be automatically shared and easily accessed by anyone with access to the chain. In blockchain clinical trials, it is possible to create a collaborative environment that can track all versions of a patient's health data.

With the introduction of Blockchain technology, the management, monitoring and tracking of data related to patient information can be tracked at every stage. Changes to the blockchain network require approval from each user or node to maintain the chain.

The role of smart contracts

The idea of ​​having uninformed patients is a thing of the past. Getting patients on board and having their fully informed consent for a clinical trial is perhaps a big challenge. Currently, there is no such provision where patients can view the necessary documents and give their consent.

This is where smart contracts come into play,

According to Wikipedia, "Smart Contracts are computer protocols that facilitate, verify, or enforce the negotiation of a contract" and their execution can be implemented using cryptographic hash chains.

By creating smart contracts, patient-provider consent becomes completely transparent and direct because it is truly controlled by the patient. As patients are constantly aware of the sharing and monitoring of information, they are able to accept each new piece of information as it is finalized and recognized by others in a private blockchain network.

At the patient level

Currently, there is huge room for human error because a single patient visit consists of many data points that are spread in different directions. Blockchain provides the ultimate in impenetrable security, it can impact the way clinical trials are conducted inefficiently by managing sensitive health-related data. Blockchain is built on an encrypted platform, which means that patients can expect secure reports, transactions and documents that are verified and do not have to undergo the same procedure over and over again.

Secure data infrastructure

Researchers and healthcare professionals believe that Blockchain technology would enable the synchronization of trial information and patient information. This will also connect patients directly to the studies and the patient will be informed of their personal information every step of the way. Additionally, the capability brought by blockchain technology would improve the communication of clinical trial results. 안전한카지노사이트