Timely and effective healthcare is critical to our well-being. In the modern world, that depends in no small part on our health insurance. Unfortunately, relations between patients, health providers and insurers are rife with miscommunications and inefficiencies, and further hampered by error and fraud. This leads to delays, costly and cumbersome payments and a general atmosphere of confusion and distrust that sometimes keeps people from receiving medical assistance altogether.
https://blupass.co/
As this can literally be a matter of life and death, better solutions are sought for, and it was therefore only a matter of time before the idea of applying blockchain technology to the problem had gained purchase. While medical ICOs are nothing new, Blüpass is in a much more exclusive club as a company with several years of experience in the industry it proposes to disrupt. Its main idea is to build on the success of the team's previous product, a health insurance reconciliation program called HRaspirin, and update it with blockchain functionality to solve a much broader set of problems in the healthcare sphere, facilitating the interactions of different types of users in it.
How will the Blüpass platform work?
Every user will receive a personal lodger, secured and accessible using a personal code or biometric identification. This ledger will contain their electronic health record (EHR), as well as provider and carrier coverage data. A system of checks will be in place to protect all information from tampering or theft, comparing it against sources connected to verified providers. The user will be able to share any of this information directly with medical service providers or insurance carriers, minimising inaccuracy or fraud.
Users will be able to set up special smart contracts with insurance companies. Specific items within each insurance policy will be identified as Portable Benefit Utilities (PBUs), which will be referred to during the claim process. Blüpass will feature a unique protocol that will coordinate between multiple smart contracts set up earlier (between the user and the insurance carrier(s) and the user and the medical service provider) to instantly and automatically execute any insurance claims that come up while paying for treatment and bill the patient for any costs in excess of the coverage. Blüpass tokens (BLU) will be used for all transactions, but the platform will be able to convert them seamlessly to fiat currency and back.
The platform will be open source and geared towards incorporating and facilitating access to various additional main platform and third party services. This includes subscriptions to Physicians' Health Groups, telemedicine plug-in integration, optional extension of EHR access to EMTs in emergency situations and integrated data mining. It will eventually be possible to acquire vetted third party health apps on the BluMarket (to be launched in late 2019).
How will Blüpass work for everyone in the market?
Eliminating or minimising fraud and error will help all sides of the market, as will facilitating payments and the development and utilisation of innovative technologies such as telemedicine apps. An atmosphere of greater trust will make it easier and cheaper for both insurers and providers to do business, which should also lead to savings for their customers. Patients, providers and insurers alike should save a lot of time and money thanks to greater efficiency provided by blockchain technology. Also, relying on Blüpass will be much more straightforward and less confusing for clients than the present, opaque system with its complicated and error-prone paperwork. Ultimately, of course, the greatest benefit of all will be derived by patients who will receive superior insurance coverage and medical treatment.
https://blupass.co/
Blüpass itself will draw revenue by providing paid services to all sides of the markets (developing contracts with carriers, fronting claim funds to providers and selling competitive rate funds to ordinary users) and by collecting processing fees (whether from customers themselves or from employers or insurance carriers) from various transactions done through their HRaspirin claims reconciliation software. It will also continue selling BLU tokens.
The main advantages of Blüpass
The team behind the platform combines the expertise of veterans of the cryptoindustry and a company with a six years' track record in the field of health insurance reconciliation. It is thus closely familiar with the problems and the opportunities of both areas; also, it already has a working product and an established company behind it. Blockchain technology is an obvious fit for dealing with problems of complex monetary transfers and trust. Blüpass also benefits from its research of the latest innovations in healthcare, such as telemedicine.
As for the platform itself, it stands to solve many critical problems in a large yet troubled industry, with plenty of room for expansion. What is more, a lot of those issues (paperwork, mistakes, fear of fraud or identity theft, confusing or inconvenient payments) are very familiar and frustrating to ordinary consumers, who are among their key prospective clients. The platform is designed to accommodate the previously mentioned expected growth by being open source and easily scalable, with the potential to integrate many cutting edge inventions that would synergise well with its core functionality of storing and confirming information.
Token sale details
The Blüpass utility token (BLU) sale is still ongoing.
At the cutting edge of healthcare
Health, and all areas of economy and technological innovation that are connected to it, naturally attracts attention from a very broad audience. The problems of the health insurance industry, particularly in America, are very well known to us today. A product that could solve some of those problems would find great demand.
Could Blüpass be that platform? It is too early to say. Many of its more ambitious plans, such as partnerships with companies throughout the healthcare market and the incorporation of third-party services, are still in the air; and while it already has one ready product, the platform itself is yet to be developed. However, its core idea of using blockchain technology to securely store and transfer health and insurance coverage data appears sound, and if it could be implemented successfully, it may indeed become a stepping stone for further innovation in the field, as the company suggests.
Links
Website: https://blupass.co/
WhitePaper: https://blupass.co/img/Blupass_Whitepaper.pdf
Telegram: https://t.me/blupass
Facebook: https://www.facebook.com/theblupass/notifications/
Twitter: https://twitter.com/theblupass
Medium: https://medium.com/@info_69687
ANN: https://bitcointalk.org/index.php?topic=3339249.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.