Blockchains Projected to Disrupt the Healthcare Industry by 2025: Analyst

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CoinMD agrees that blockchains will lessen healthcare inefficiencies and save billions of dollars

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Blockchain technology has the potential to save billions of dollars in healthcare costs

According to a June report by analyst firm Frost & Sullivan, blockchain technology—and the cryptocurrencies that use it—will revolutionize the healthcare industry by 2025. These developments are already underway, with startup cryptocurrencies targeting the inefficiencies of the current healthcare industry.

Analyst Kamaljit Behera from Frost & Sullivan’s Transformational Health team asserts that blockchain technology “holds the potential to save billions of dollars by optimizing current workflows and disintermediating some high-cost gatekeepers.”

Specifically, engineers are looking to blockchain technology to resolve longstanding problems involving data operability, cybersecurity, insurance notarization, and medical billing fraud.

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CoinMD, Inc. is one healthcare startup posed to disrupt the healthcare industry by offering its members access to a private blockchain and cryptocurrency specifically designed for healthcare payments.

The company lays out its stance in an extensive white paper entitled How Will You Pay for Your Healthcare After You Retire? As CoinMD members use the cryptocurrency to pay for healthcare goods and services, the value of the currency is expected to grow. This should mitigate healthcare costs, which many experts expect to rise to unsustainable levels for oncoming generations of retirees.

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A key development occurring now is the use of blockchain technology as a service, which allows decentralized computing to take place across entire networks. Blockchain-based membership networks like CoinMD seek to replace traditional safe-haven assets like real estate and gold by offering members a better value that suits their personal goals.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, the company has been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.

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About CoinMD

CoinMD, Inc. is a private membership network designed to make healthcare more affordable. Linking world-class healthcare providers with an active pool of consumers, CoinMD uses the buying power of the network to negotiate deals that lower costs for members. The network also enables members to earn CoinRewards by making insurance payments on time, using in-network health and wellness providers, and sharing CoinMD with other people.

CoinMD uses a new cryptocurrency powered by a secure blockchain and designed to gain value over time, instead of losing value like national currencies. Anyone of any age—seniors, Baby Boomers, Generation Xers, or Millennials—can join CoinMD to benefit from lower costs today and a more secure retirement tomorrow.

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