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CareX, a new company based in Texas, is using the blockchain to make secure healthcare transactions that will reduce the cost for services like doctor visits or trips to the emergency room.
CareX will be launching early next year, just in time for Obamacare premiums to jump an average of 37 percent, the company said. It claims to be a viable alternative to purchasing expensive insurance.
CareX Blockchain Platform integrates healthcare systems by enabling patients to make transactions with an encrypted wallet that holds their medical records.
"The current situation is a real mess and Americans are increasingly tired of how expensive it is," said CareX CTO Andy Tunisi, who has spent many years in hospitals as an IT professional. "It's not really anybody's fault, but it's time for an alternative. We think that alternative is CareX."
CareX Blockchain Platform CEO Mike Bishop, added: "There's at least one simple reason health care expenses have gone up so much - paperwork. Somebody has to be paid to do all the paperwork and make sure it results in money coming in.
"Doctors love the idea, because they are getting a solution to their medical records problem, they are paid immediately with something that has inherent value, and they can keep track of their billing and insurance claims using the analytics dashboard."
CareX, Blockchain, Obamacare, Andy Tunisi, Mike Bishop, Texas, US