As of 28th October 2019, Zhejiang Province Provincial Department of Finance announced that its platform processed 41.7 billion Chinese yuan (USD 5.9 billion) in over 480 medical institutions across the province. It seems like the medical industry is no exemption when it comes to blockchain applications as can be seen by the Zhejiang province in China which has started pioneering the use of blockchain technology to ease up the processing in medical appointments, prescriptions, and payments.
Launched earlier this year with support from Alipay and Ant Financials blockchain solution, the Zhejiang blockchain ‘e-bill’ platform has been a resounding success. Reportedly, insurance pay out’s to patients had sped up by 96 times due to the implementation of blockchain with the platform securely connecting patients, billing agencies, medical institutions, and insurance companies.
This use of blockchain technology for medical transactions has dramatically reduced the time for issuance and verification of medical documents, reducing claim procedures from a long 12 days to a mere 3 hours. Additionally, the per-patient visit times have been cut from 170 minutes down to 75. This case study proves how drastic improvements can be seen when the blockchain technology is adopted and well-executed.
As a high tech company, Dragon’s Blockchain Solutions can help organisations of all shapes and sizes achieve these kinds of efficiencies not only in the healthcare industry but also in day to day living. Essentially, the Dragon Coin and Dragon Social Wallet are amazingly versatile and can be utilised across many different sectors to ensure an efficient, secure, and frictionless payment system.
These technology innovations challenge the traditional financial gatekeepers, and the Zhejiang province in China is just one example of how blockchain innovation can drastically change how the traditional industries can evolve. Dragon continues to take great strides to help provide the bridge between traditional business and blockchain innovation. Dragon is set to dominate the entertainment industry sectors (VIP gaming, e-gaming, and i-gaming) through the world's number one entertainment coin Dragon Coin (DRG). But that's not all; Dragon will soon begin to expand its other verticals as it grows stronger and spreads its wings across the entire blockchain space. Look out for the Dragon Wellness vertical coming online as part of an expansion plan which Dragon CEO, Paul Moynan has been building over the past two years.
But until then, stay in the loop with the latest blockchain innovations and as well as Dragon’s contribution to its further developments. Follow us on our social media [Facebook and Twitter] and of course, feel free to join the discussion in our Telegram group.