Transformed the health insurance benefits and claims processes with a blockchain-based technology platform

Provider refunds to consumers are expected to grow by 5 percent from 2018 to 2022. The report estimates refunds totaled 2.6 billion in 2018 and will total 3.1 billion in 2022. (Source: Health care refunds are becoming more common, but are lagging behind the times)

Our client, a healthcare technology company was looking for a better solution to settle the claim, manage members, and benefit accumulator. The company, dedicated to co-create digital health solutions for health insurance companies, wanted to improve its level of data consistency and transparency using modern automated processes. Chainyard, with its extensive expertise and experience in Blockchain technology and providing Digital transformation solutions was chosen to provide a solution.

We are continuing our development engagement with the client, providing solutions to healthcare payers and healthcare benefit managers (HCBM) to settle the claims, manage members, and their benefit accumulators.

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