This IDC Perspective examines the challenges and opportunities that healthcare organizations face in developing and deploying distributed blockchain ledgers technology (DLT) and smart contracts. A number of healthcare organizations, technology providers, and market participants are experimenting with and developing DLT and smart contracts individually and in consortiums.
Lynne A. Dunbrack, research vice president, IDC Health Insights, reports, "Blockchain distributed ledger technology is gaining momentum in healthcare as healthcare organizations and service providers look for new ways to reduce transaction times and transaction costs. Healthcare organizations should be actively researching blockchain ledger solutions and deploying experiments and proof-of-concept (POC) projects. As DLT gains momentum, it will be harder for healthcare organizations to catch up with leading healthcare organizations and market participants that are working with these technologies now."