Blockchain in US health care

One of the biggest spendings in US healthcare processes is the continuous tracking of the flow of services and money: The enormous complexity and distributed nature of our health system means that billions of USD are expended annually trying to understand which patient received what service from which service provider and by whose authority. Disputes inevitably arise, and both the insurance industry and the providers of healthcare then expend a great deal of additional time and money adjudicating these disagreements. Because of its independent architecture, blockchain could potentially form the foundation of a high integrity tracking capability that is updated in a near instantaneous manner. This would lead to many less errors (with both financial and patient care upsides) and substantially reduce fraud. Given the potential here, this might generate enough interest to attract the investment and intellectual commitment required to solve this complex technical challenge.

The Blockchain offers the possibility for trust to be “integrated” into the process of collaborative Research&Development in a way not possible before. More trust means more collaboration and, in the end, more productivity.

(CF ed. / news agencies / Forbes)

 

 

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