samsung blockchain
Samsung SDS Pilots Blockchain-Based Medical Insurance Network
October 17, 2019
samsung blockchain
Samsung SDS Pilots Blockchain-Based Medical Insurance Network
October 17, 2019

Samsung SDS an IT solution developer of South Korean tech conglomerate Samsung will pilot a blockchain-based medical claims processing system this month.

Samsung SDS is 22.6 percent owned by Samsung Electronics and 17.1 percent owned by Samsung C&T.

Simplifying Insurance Claims

The vice president of Samsung, Yoon Shim revealed the details at the Blockchain Seoul 2019 event. The project has been piloting since August this year.

The vice president added that insurers and medical institutions have partnered in the pilot for the effectiveness of the project of this month that is going to be live soon this month itself.

The pilot aims to simplify the process where a patient gets a receipt for services they are being rendered while submitting the documents to the insurance company which then goes verification process before the claims are being paid.

The company adds that even though most of the Koreans are well insured they would still not fight claims because of the complicated procedures.

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Various networks such as hospitals, pharmacies, insurers and other companies in the sector will be linked in the “blockchain network”.

Users will receive a message in the KakaoTalk messaging app after the treatment where they can press a receipt button and insurance claim button wherein the information gets passed on to the insurer.

Blockchain in Health Sector

Blockchain technology can prove to be a boon in the health care sector while used for sharing personal information for medical reasons.

The company believes that the network will reduce workload at the, medical institutions while shortening waiting times for claim processing and reducing the cost of processing claims for up to 70 percent.

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