Today, the Zhejiang Provincial Department of Finance announced it processed about 41.7 billion yuan ($5.9 billion) using the blockchain medical billing platform, according to a report from
QNSB. As of October 28, the platform is in production at 480 medical institutions across the Zhejiang province.
The Zhejiang blockchain e-bill platform was launched earlier this year by the provincial government, with support from Alipay and Ant Financial’s (Alipay’s parent ) blockchain solution.
The report added that insurance payouts to patients had sped up by 96 times due to the implementation of blockchain in the medical sector. The platform securely connects patients, billing agencies, medical institutions, and insurance companies.
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