New ICO Poised to Disrupt Insurance Industry in April

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Blüpass launches an initial token offering for BLU tokens in April. Blüpass aims to revolutionize the healthcare system for consumers, providers and carriers through their system of Ethereum token sales utilizing BlockChain Technology.

Blüpass changes healthcare

Why can't patients know up-front precisely how much a procedure will cost and pay invoices as seamlessly as buying a cup of coffee? Blüpass solves for this inconsistency. Blüpass is a blockchain fabric to connect providers, consumers and carriers.

Imagine buying a cappuccino but there are no prices on the menu. The barista says, “We can’t pinpoint the price today. But don’t worry, we have accountants, administrators and clerks who’ll figure out how much your coffee costs later. We’ll send a bill in a few months." Long after the caffeine has worn off the bill arrives; it's shocking to discover that cappuccino cost three times the price expected. Cappuccinos are not necessary for life depending on each individual's opinion. But billing offices, doctors offices, dentist offices, and hospitals operate like this every day.

From a consumer’s economic viewpoint this is an unacceptable business model. Imagine purchasing a home or car under these terms.

Yet when people are hospitalized this is essentially what happens all over the country every day. Why have patients agreed to operate under this skewed model for so long? Patients' health and well being often drives them to accept such uncertain open-ended financial terms. Many people go along with it because that’s just the way it’s always been.

“Why can't patients know up-front precisely how much a procedure will cost and pay all invoices as seamlessly as buying a cup of coffee? Blüpass solves for this inconsistency. It solves a problem almost everyone has faced. Blüpass is a blockchain fabric to connect providers, consumers, and carriers. Patients access Blüpass' instant claim services through an Ethereum based token. Think of it almost as bitcoin for healthcare, but with a special token,” says founder Shawn Stephens.

They are unique to the ICO world and aim to disrupt the insurance industry. Blüpas strives to correct deficiencies in the Healthcare industry and transform the industry into a consumer centric, egalitarian model.

According to Stephens, “Simply put, Blüpass provides instant verification of patients’ policy information and claims adjudication at the point of service.”

Consumers also use Blüpass tokens to access electronic medical records, insurance policy information, and applicable universal billing modalities through the Blüpass wallet on their mobile device. Blüpass combines all these necessary data sets in Portable Benefit Utilities or PBUs. Once a patient gives access to their PBU at the billing counter, providers use a Blüpass point of sale system to apply appropriate charges. After checkout, patients know their bill is complete before they reach their car. No surprises.

Historically, there are three major problems in the healthcare arena. First, healthcare providers must spend a significant portion of their time and revenue on billing, health records, and treatment modalities. The provider may not have a complete picture of the consumer’s financial responsibility or health record. Second, carriers attempt to limit potential fraud through a lengthy and manual claims process. This process can take up to 6 months in the current environment to pay claims. Third, consumers are caught in this vortex of uncertainty between providers and carriers. This turbulence places unnecessary burdens on consumers in the form of expenses and treatment delays. Blüpass will build a multilayer blockchain to accommodate existing and new healthcare technologies. They will utilize their unique blockchain ledgers to deliver instant data for claims service while providing technical support to eliminate fraud for carriers. Finally, they will build a client centric mobile platform that enables consumers to control the timing and delivery of medical records and application of claims. A simplified financing system in the U.S. could result in cost savings exceeding $350 billion annually, nearly 15% of health care spending. And that could buy a whole lot of cappuccinos.

Consumers, providers or carriers interested in learning more about Blüpass can visit

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Andrea Stephens
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Ray Keech
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since: 02/2018
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