Blockchain in Healthcare’s Transformative Power to Support Trusted Exchange
Michael Marchant, Mitchell Parker, Ann Ingraham, PhD; Wilson Choi, EMBA; Rakesh Sreerambhatla, David Metcalf and Chrissa McFarlane; HIMSS Blockchain in Healthcare Task Force Members
Does innovation breed regulation or does regulation spark innovation?
In the case of the drafted Trusted Exchange Framework and Common Agreement (TEFCA) and the forthcoming frameworks, the hope is that regulation may serve as an impetus for developing innovative approaches to exchange. Since blockchain is an emerging technology that can support healthcare data exchange, it should be explored as an innovative option for addressing regulatory exchange requirements for interoperability.
Previously, we introduced a number of components of TEFCA that will need to be addressed to develop a successful framework for trusted exchange, suggesting that blockchain technology could be leveraged to support this. Now, let’s unpack further how blockchain can facilitate these components of TEFCA.
Blockchain: Creating a Framework for Trust
The exchange of electronic health information (EHI) between disparate health systems, providers, and patients requires trust, and therefore, the Trusted Exchange Framework (TEF) principles need to ensure trustworthiness within networks.
The TEF outlines six general principles around: