Samsung SDS will launch a blockchain system for processing medical insurance claims

Samsung SDS will launch a blockchain system for processing medical insurance claims

The it division of international tech giant Samsung SDS plans to roll out a blockchain-based system for processing medical claims this month.

According to a report from CoinDesk Korea, Samsung SDS Vice President Yoon Shim said at The blockchain event Seoul 2019 that the company has been conducting a pilot implementation of the system since August this year.

Yun added that medical institutions and insurers have taken part in the pilot project to confirm its effectiveness, and the system will be launched this month, according to another report. The network being deployed aims to simplify the complex process in which a patient receives a receipt for services rendered and submits the documents to the insurance company, which then has to verify their accuracy before claims are paid.

Samsung SDS notes that although most Koreans are well insured and should not have any personal expenses, they often do not file claims for payment to the insurance company due to the complex procedures that this process entails.

The new blockchain-based healthcare network will bring together hospitals, pharmacies, insurers and other companies in the sector. When the system starts working, users will receive messages in the KakaoTalk messenger after treatment. They can then choose to receive a receipt and insurance refund, after which their information is sent to the insurer.

Samsung SDS believes that the network will reduce the workload in medical institutions, the waiting time for claims processing, and reduce the cost of processing them by up to 70%.

The use of blockchain in the medical field is becoming more common. In July, it was announced that the Longenesis medical data market will provide
its blockchain platform for obtaining consent for medical interventions to Hanshin Medipia Medical Center and Infinity Care.

In February, it was also reported that Bitfury, MDW and Longenesis will develop a blockchain platform
for sharing and protecting medical images and
diagnostic information, such as x-ray scans and
CT scans.