iot health

IoT Evolution Health News

IoT Evolution Health Home

Tracking, Securing, and Optimizing Securing Valuable Healthcare Assets, Through the Supply Chain

By Arti Loftus
October 25, 2021

Blending hardware, software, sensors, and blockchain, the Industry IoT Consortium (IIC) last week announced a new test-drive project, the "Valuable Asset Tracking (VAT) for Healthcare Networks).

The test drive combines tamper-proof hardware and blockchain software to create a trusted and transparent asset tracking solution for valuable assets within a medical facility or among entities of a healthcare network.

According to the announcement by IIC, the project was initiated by IoTeX, an IIC member since 2018, and aims to facilitate collaboration among supply chain stakeholders, improve supply-chain efficiency and user experience, and achieve substantial cost savings.

"A lack of transparency, integrity, and availability of supply chain data has restricted operational efficiency and prevented collaboration among stakeholders," said Howard Kradjel, Vice President, Industry Programs, IIC. "The Valuable-Asset Tracking for Healthcare Networks test drive addresses these industry-wide challenges. It creates a trusted system to track assets in a facility and provide visibility to the flow of medical goods and services from manufacturer to consumer in the supply chain."

"The test drive combines tamper-proof hardware and software and creates trust among stakeholders in supply chain applications," said Xinxin Fan, Founding Member and Head of Cryptography, IoTeX, and Co-Chair of the IIC Distributed Ledger Task Group. "The test drive shows how healthcare organizations can improve supply chain efficiency and user experience and save a substantial amount of money."

IIC test drives are short-term, rapid-engagement pilots for technology users to employ and adopt IIoT technologies. The IIC Test Drive program fosters collaboration with partners to address leading-edge IIoT use cases in 3-6-month projects based upon technology end users' real problems.

The learnings from the solution, which ensures end-to-end trust and transparency across multi-tiered healthcare supply chains, can be applied to other business fields. You can find more information on the Valuable-Asset Tracking for Healthcare Networks on the IIC website.

The global pandemic tested the limits of the healthcare and medical equipment supply chain, putting immense strain on the production and movement of everything from masks and gloves to ventilators and ICU equipment.

This emergency resulted in innovations emerging to deal with new and unexpected challenges, like this new IIC project.

Supply chains in the medical field have become increasingly global, multi-tiered, and regulated. Security is also important, and the use of distributed ledger technologies to ensure immutable transactions and tracking data has tremendous promise going forward.

"The VAT for Healthcare Networks test drive demonstrates how healthcare organizations can track the location and availability of valuable medical equipment within hospital wards and in the supply chain," said Kradjel. "It shows how tracking valuable healthcare assets can improve operational efficiency and collaboration among stakeholders."


Arti Loftus is an experienced Information Technology specialist with a demonstrated history of working in the research, writing, and editing industry with many published articles under her belt.

Edited by Luke Bellos

Special Correspondent

SHARE THIS ARTICLE
Related Articles

Asimily Studies the Internet of Medical Things: How Adopting a Holistic, Risk-Based Approach is Key for HDOs

By: Alex Passett    8/23/2023

Internet of Medical Things company Asimily published a new report studying the effects of cyberwarfare on the modern healthcare industry.

Read More

GlobalPlatform Leads the Way in Automotive Security

By: Greg Tavarez    5/28/2023

GlobalPlatform launched a comprehensive initiative to address automotive security challenges and foster collaboration within the industry.

Read More

Validic Expands Healthcare IoT Platform with Integration of Smart Meter's Cellular-Enabled Health Devices

By: Stefania Viscusi    4/5/2023

Validic, a digital health company, announced it has integrated with Smart Meter, a connected health solution supplier, to expand its healthcare IoT pl…

Read More

CenTrak Announces Workflow Software for Improved Healthcare Solutions

By: Alex Passett    1/19/2023

End-to-end healthcare solutions provider CenTrak has introduced Workflow, its new software designed to remove manual burdens in clinical settings.

Read More

The Internet of Cannabis: How Sensor-Based Networks and Precision Horticulture are Going Next Level

By: Reece Loftus    12/19/2022

With its Grow as a Service offering, PharmCloud's has created Cannabis Industry 4.0, with IoT sensors placed throughout the growth process to enable m…

Read More