Can AI and blockchain tackle medical debt?

While in the UK medical debt is unlikely to be personal, there is still the impact of prescription charges, dentistry and other services that may not be included with the NHS. As medical technology advances, it is not surprising that blockchain and AI have entered this industry and could provide ways in which to solve issues of medical debts.

Medical - Can AI and blockchain tackle medical debt?

Within the healthcare industry, blockchain and AI can help disseminate the incredible amount of both patient and medical data that needs processing. This can help with speeding up the rate at which drugs are deemed safe for the market and adapt ways in which patients can be treated.

It can also help with understanding some of the less obvious sectors of the industry such as the engineering, transport and storage side. Knowing the temperature of medical refrigeration is stable, for example, can ensure the drugs stored are safe for use. Then when you touch on the administration needed within healthcare, the communication between different computer systems at each specialist location, the potential for AI and blockchain becomes very exciting.

Blockchain Help - Can AI and blockchain tackle medical debt?

How blockchain can help

As these supply chains are made up of many individual private companies, the introduction of blockchain can help keep sensitive information secure and ensure it is only viewed by those who need to do so. Blockchain is the storage mechanism of the data and AI is the way in which is it processed.

Potentially, healthcare customers can have a greater understanding as an end-user of the real cost of their care and for the businesses and healthcare providers, it would provide a streamlined solution for the processing of medical data.

Helping with payments

It is not just patients that can face costs within the UK healthcare industry, businesses along the supply chain, such as are at risk of unpaid invoices or managing their own credits. Many businesses are involved in the supply chain, each with their own separate payment systems and a lack of combined data to accelerate the process.

AI can help analyse and disseminate that data across multiple suppliers to allow each in the chain to receive the information they need and what that final figure is. Equally, a private patient can receive clearer billing information to understand how they came to that final price.

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