During an appearance on Capitol Hill earlier this week, a representative for a prominent US think tank suggested that blockchain applications could fuel next-generation health and insurance data systems.
American Enterprise Institute (AEI) resident fellow Scott Gottlieb spoke yesterday before the US House Committee on Energy and Commerce's Subcommittee on Health. In his remarks, Gottlieb testified about ideas for bringing innovation and competition to US insurance markets, at one point discussing using technology to design more intuitive insurance risk pools.
Gottlieb suggested that a more technologically advanced risk pool would have the capacity to auto-regulate insurance subsidies in real time, indicating that, from AEI’s perspective, such a system could employ a blockchain.
The suggestion comes during a notable period in the years since the US government implemented the Affordable Care Act, known colloquially as Obamacare, which aimed to expand health care access through an insurance mandate and an effective socialization of insurer losses.
Further, it comes as major healthcare organizations are beginning to investigate blockchain technology, with Philips recently partnering with industry startups Gem and Tierion as well as opening a research lab devoted to the tech.
Image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.