Samsung SDS pilots a blockchain-based medical claims processing system

samsung blockchain insurance medical
Samsung SDS pilots a blockchain-based medical claims processing system
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Samsung’s IT solution developer Samsung SDS is expected to roll out a blockchain-based medical claims processing system in October.

Yoon Shim, a vice president of Samsung SDS, said at the Blockchain Seoul 2019 event that the firm has been piloting the system since August 2019. Samsung SDS is 22.6% owned by Samsung Electronics and 17.1% owned by Samsung C&T.

Yoon added that medical institutions and insurers have participated in the pilot to validate the effectiveness and the system will go live soon in October, based on another local news report.

The network aims to simplify a currently complex process in which a patient gets a receipt for services provided and submits the documents to the insurance company, which must then verify their accuracy before claims are paid.

According to the company, although most Koreans are well insured and should have no out-of-pocket expenses, they often do not file claims because of the complicated procedures.

The new “blockchain healthcare network” links hospitals, pharmacies, insurers and other companies in the sector. When the system is operational, users will receive a message on the KakaoTalk messenger after treatment. Pressing a receipt button and an insurance claim button will send their information to the insurer. 

The blockchain technology is used for sharing of personal medical information. Samsung SDS believes that the network will reduce the workload at medical institutions, shorten wait times for claims processing and reduce the cost of processing medical claims by up to 70%.  

In June, Samsung SDS said that it had already signed a number of major hospitals to the blockchain healthcare network. The list includes Samsung Hospital, Severance Hospital and Korea University Medical Center, while discussions were ongoing with other institutions. The company said at the time that the new system would be rolled out in August 2019.

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