Medical Fraud - Blockchain To The Rescue

We are building blockchain-based electronic medical records. Our approach will empower the patients, they’ll always be in control of their medical data, decide when, how and with whom it will be shared; but will also provide great benefits to the healthcare providers, who will finally have access to the longitudinal data for every patient, which will enable them to provide better personalized care for their patients.

However, there is another problem that we aim at tackling: healthcare fraud. Escalating healthcare costs are a huge problem for the society as is, we definitely do not need an additional burden of fraud. The Harvard Business Review estimates it to stand at $70 billion annually, others believe it to be as much as 10% of the total expenditure which would place it at $320 billion. We believe that the blockchain technology carries many benefits that can help alleviate this issue: immutability of data, ultimate time-stamped audit trail and security. Along with the domain-specific AI, it can go a long way in solving this problem.

If it is something you care about, we would love to hear from you!