Posted on

Doctors Fight Healthcare Fraud With iAM App

61 Views
0 Total shares
Doctors against healthcare fraud.

Just imagine if a charlatan uses a fake identities of qualified doctors to treat over 100 patients. As a result, the fake doctor unleashes mayhem on unsuspecting patients. Guess what, this is not fiction, but a real-life story. Funnily enough, it didn’t happen in a third-world country, but instead the United States.

Yes, one Scott Redman stole the identity of a physician to treat over 100 patients, including a nine-year-old child. Specifically, Redman prescribed an ADHD drug Vyvanse. After operating between 2015 and 2016, the U.S. authorities apprehended Redman and had him locked up for 13 years in prison. Alongside the untold physical damages Redman may have caused his patients, many of them may be traumatized for the rest of their lives.

What Is the Way Out?

Without a doubt, this is an affront to the U.S. healthcare sector. However, identity fraud is a tip of the iceberg. There are countless ways criminals game the system, chiefly by taking advantage of its lapses.

Today, the global healthcare industry is worth $9T USD. So, to avert that ugly incident from recurring, a team of medical doctors has established a company called Instant Access Medical or iAM. The team boasts a vast medical experience of over 50 years and says that they can avert such fraud by using blockchain technology.

Fighting the Fraud

Apart from running fake medical centers, fraudsters can also change a prescription. Predictably, the reason for doing so is to get more drugs from pharmacists. On the other hand, some quacks have also filed false health insurance claims in a bid to defraud insurers. According to FBI reports, such activities cost the United States a whopping $80B USD per annum. Similarly, the European Healthcare Fraud and Corruption Network stated that fraud costs a total of $260B USD.

However, the doctors at iAM are proposing a simple way of ending the menace. iAM doctors believe that such frauds start when people manipulate doctor-patient data which the insurers rely on. In addition, they strongly believe that blockchain technology helps to provide a mechanism for seamless decentralization of record, immutability, provenance, and healthcare data compliance.

Doctors Getting a Patient’s Consent

For this reason, the doctors believe they can revolutionize the healthcare industry by shifting access to patient’s data. In this case, patients will give the doctors, healthcare givers, and health insurers access to their records using the iAM mobile app. With the app, these patients can view their prescribed medications, insurance coverage, and view diagnoses.

However, iAM verifies all access to its records itself. This is to ensure that the system eliminates crooks. With a 30 year legacy, iAM currently has about 3,000 physicians in five countries and 18 specialists. Moreover, health specialists use iAM HealthOne solution to manage more than six million patients.

Risk Disclosure

This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

Join our Telegram Group To Stay Up To Date With Crypto News

 

Daily updates








LATEST CRYPTOCURRENCY NEWS FROM CRYPTOBLOCKWIRE

We are your go-to news source for everything cryptocurrency and blockchain in the U.S. and internationally.

CryptoBlockWire is your home for the latest cryptocurrency and blockchain news. It’s our job to provide you with access to the latest breaking news regarding Bitcoin, altcoins, and blockchain technology. There is nothing more exciting than being at the forefront of the cryptocurrency movement and financial consumer technology. CBW’s extremely knowledgeable writing staff use their experience and enthusiasm to publish the most current, accurate, and helpful stories in the entire crypto-sphere.