Using Smart Contracts via Blockchain Technology for Effective Cost Management in Health Services

Abstract

Societies evolved towards a knowledge-based construct with technology by providing a change in the methods of traditional production and service presentation. In today’s information societies, digital technologies enable peers to transfer data and knowledge without needing any central authority or intermediary. Morever, blockchain technology, which is becoming more and more widespread, has begun to be renowned as Bitcoin and crypto currencies enter the markets, and practiced as a business strategy in different sectors with the technology it relies on. There are findings that Blockchain Technology will eliminate inefficiency in many sectors and will contribute to the reduction of costs by conducting transactions among parties without a central authority through smart contracts. Recently, the use of this technology in the health sector has been keeping the agenda occupied and sector specific solutions have been becoming prevalent. In this study, the health services where E-government applications, TeleMedicine and Artificial Intelligence are reviewed and the effects of the sharing of the data about patients and diseases among health sector parties with the Blockchain Technology through smart contracts have been investigated. The theoretical framework of blockchain technology has been investigated within the existing framework and the applications of countries such as Estonia, Sweden, and the U.S.A, who use Blockchain Technology in the health sector have been analyzed and their effects on the costs of health services were evaluated.