Samsung SDS to Roll Out Blockchain-Based Medical Claims Processing System

IT solution developer Samsung SDS is anticipating to introduce a blockchain-based medical claims processing framework this month.

As per a local news report on October 16, Yoon Shim, a VP of Samsung SDS, stated at the Blockchain Seoul 2019 event that the company has been piloting the system since August this year. Samsung Electronics owns 22.6 percent of Samsung SDS, while Samsung C&T owns 17.1 percent.

Yoon said that medical institutions and insurers up have joined in the pilot to verify the viability, and the framework will go live soon this month, according to another local news report.

The system being introduced intends to streamline a now perplexing procedure, where a patient gets a receipt for administrations rendered and presents the reports to the insurance agency, which should then check their precision before claims are paid.

The firm says that even though most Koreans are well insured and should have no out-of-pocket costs, they will frequently not file claims as a result of the complicated methods.

In the new “blockchain healthcare network,” pharmacies, hospitals, insurers, and different firms in the sector will be connected. At the point when the framework is operational, clients will get a message on the KakaoTalk messenger after treatment. They would then be able to press a receipt button and an insurance claim button, after which their data is sent to the insurance provider.

Blockchain innovation is utilized for the sharing of personal medical data. Samsung SDS trusts that the system will lessen the outstanding burden at medicinal institutions, shorten the waiting period for claims processing and decrease the expense of processing medical claims by up to 70 percent.

In June, Samsung SDS stated that it had just signed some major hospitals to the blockchain healthcare network. The rundown includes Samsung Hospital, Severance Hospital, and Korea University Medical Center, while talks were progressing with different institutions. The firm said at the time that the new framework would be launched in August 2019.

The system is being based on Nexledger, an enterprise blockchain platform initially created in 2017. Samsung SDS says Nexledger is being utilized in the execution of 110 blockchain undertakings and holds 51 patents.