Samsung’s subsidiary Samsung SDS has been testing a blockchain-based medical insurance network in South Korea. The company has been working with different medical institutions and insurers to roll out the project. The project aims to simplify the complex process of patients receiving receipts for services rendered, which he submits to the insurance company to get refunds.
The company reported that even though most citizens are well insured and should not pay expenses out of their pockets, but they still hesitate to file claims because of the complicated process. The blockchain network would link hospitals, pharmacies, insurers, and other companies together to make the process simpler for users.
According to the company, once the system is installed in place, patients would be able to send the receipt to the insurance company from just one click to file claims. Samsung Hospital, Severance Hospital, and Korea University Medical Cente are some of the hospitals that have already signed up for the blockchain healthcare network. The network is being built on the Nexledger blockchain platform.