Although individuals on different sides of the political spectrum are likely to disagree about what's to be done to fix the U.S. health care system, few would likely dispute that the sector is in rough shape at this point.
To be sure, fixing health care is a process that's sure to be lengthy and to involve many factions within the business, science, and political worlds. Still, even as debates have raged about large-scale issues with the industry, technological advances have helped to increase efficiency in small but important ways: New software allows for the safer, faster transmission and storage of health records by providers, for instance.
On the other hand, it's no secret that many parts of the health care industry are mired in technology and practices that could only be described as outdated. Pagers and fax machines come to mind. A 2020 report found that 83% of medical imaging devices were running on unsupported operating systems that left organizations vulnerable to cyberattacks.
This can not only cost the industry money but can jeopardize the care and livelihood of patients. Given these issues, there are new signs emerging that the health care space may be primed to take advantage of blockchain technology, popular in the cryptocurrency space but not yet in the mainstream business world.