The Blockmason team has partnered with Coral Finance, a subsidiary of Coral Health, to help develop an efficient and decentralized application for recording and settling debts and obligations between doctors, patients and the insurance companies who reimburse them.
With this platform, Coral Finance aims to address the problem of inefficient debt recording and unreliable payment processes that hospitals and medical offices face. Currently, most doctors receive payment pre-approvals from insurance companies, and are only paid after they have already performed the procedure. For various reasons, insurance companies may underpay or renege on prior authorization commitments, thus leaving the doctors to write off a number of the procedures they have performed.
To learn more, please see this series of posts by Coral Health explaining “Why we need a system of tracking debts in healthcare”. For more detail, please see our announcement here.
Blockmason helps companies and developers building applications involving the recording of financial obligations on the blockchain - by providing integration support for the Credit Protocol. The Credit Protocol is powered by BCPT, an ERC20 token that provides transaction capacity on the Credit Protocol network. With BCPTs, developers can conduct transactions based on the number of tokens they hold. If you have a project in mind, or are tackling challenges related to any of the following subject areas, we want to hear from you! Please reach out to email@example.com to get started!