Blockchain—a decentralized and distributed technology—can be applied in several domains including healthcare. Current healthcare systems offer several opportunities to explore the potential of blockchain technology. This review article aims to explore the possible applications of blockchain technology in healthcare systems and highlight the critical needs for effective, trustworthy, and transparent healthcare systems. Extensive literature survey is carried out encompassing all the factors of concern related to healthcare security. This review article explores the application of blockchain technology to solve various issues in secured clinical data sharing and accessibility, Maintaining Medical History, Research and Clinical trials, Drug Supply Chain Management and Billing. It is very essential to identify the domain, key requirements in the domain, issues in the domain, and potential challenges to provide effective solution through application of blockchain.