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This is an op-ed by Frankie Wallace, a freelance writer from the Pacific Northwest.
Bitcoin is transforming the world of health insurance. Case in point: the use of bitcoin for crowdsourcing healthcare coverage.
There is a strong correlation between bitcoin and collaborative health insurance. A clear understanding of this relationship is key for those who want to use bitcoin and are looking for all the health care options available to them.
Bitcoin and crowdsourcing increase access to health care coverage
Crowdsourcing is helping people pay their medical bills. To understand how crowdsourcing works and how it relates to bitcoin, let’s consider an example.
You can get an expensive medical bill for a procedure used to treat a life-threatening condition. The bill puts a dent in his budget to the point where he is forced to make significant cuts to pay for it.
With crowdsourcing, you can ask others for help with your medical bill. You can set up a web page on GoFundMe or a similar crowdsourcing website and share it with people you know. From here, you can get money to help cover the cost of your medical bill.
To date, at least 50 million Americans have helped someone crowdsourcing a medical bill. On top of that, people are more likely than ever to crowdsource to get the healthcare they need, exactly when they need it.
Bitcoin makes a difference in terms of increasing access to healthcare coverage. Make it easy for people to contribute to collaborative health insurance. It can also fuel the growth of a new health care system that makes health care affordable and equitable for all. Bitcoin Offers Incentives for Patient-Centered Care throughout the United States, making this a viable option throughout the industry.
Why Health Insurance Companies Need Bitcoin and Crowdsourcing
Health insurers want to be paid on time. At the same time, they want customers to get the best health care coverage. Thanks to bitcoin, health insurance companies can enjoy the best of both worlds.
Bitcoin is fast becoming a Essential for insurance companies. as it opens the door to better customer relationships. For example, insurance companies can accept bitcoin payments from customers who crowdsource money for their medical bills. This gives customers the ability to send payments via bitcoin and other methods. It also helps insurance companies stand out from their competitors.
Allowing customers to pay with bitcoin can help insurance companies protect against cyberattacks and data breaches as well.
Health insurance companies are among the the main targets of cybercriminals. With bitcoin, these companies can track any payment that comes their way. Companies can verify that these payments are sent securely. They can ensure that credit chargebacks and other fraudulent means are not used to steal your money.
Bitcoin and crowdsourcing drive health literacy
People want to get the most value from their health insurance plans. Meanwhile, health insurers want to educate their customers about their coverage and what it offers. Together, bitcoin and crowdsourcing rise healthy literature on a personal and professional level.
In a crowdsourcing campaign, people can learn why someone is looking for help with their medical bills. They can get information about various medical conditions and the costs associated with them. From here, people can decide if they want to contribute to a crowdsourcing campaign. If so, they can use bitcoin to do it quickly and easily.
Health insurers can use crowdsourcing campaigns to understand their clients’ coverage needs. If a health insurance company finds that customers are frequently crowdsourcing for financial help with certain medical costs, it can renew its plans accordingly. Or, if a health insurer discovers that customers are crowdsourcing medical bills covered by their plans, they can contact these people as needed.
How to Get Started with Bitcoin and Crowdsourcing for Medical Bills
Of many ways, Bitcoin fixes crowdsourcing, for medical bills and for other uses. Bitcoin allows people to safely and seamlessly contribute to crowdsourcing campaigns for these bills. That way, people can use bitcoin payments to help those in need of financial assistance pay for their medical costs. They can also ensure that people around the world can get the medical help they need.
If you have medical bills that strain your budget, a crowdsourcing campaign may be a viable option. By accepting bitcoin as part of your campaign, you are well equipped to get financial help from a wide range of people.
Learn as much as you can about crowdsourcing before setting up a financial aid campaign for a medical bill. If you go ahead with a crowdsourcing campaign, be honest with people. Please provide relevant information on why you are seeking funding. You can then offer the option to send bitcoin payments.
It may also be beneficial to contact your health insurance company to accept bitcoin payments. What bitcoin adoption increases, many health insurers and their clients can take advantage of the benefits. Look for companies paving the way for bitcoin-based collaborative health insurance, like CrowdHealth.
Bitcoin allows health insurers to minimize cyber risk and offer greater flexibility to their clientele. As health insurance companies see the benefits of bitcoin and its use in crowdsourcing campaigns for medical bills, they may become more inclined to adopt bitcoin. Over time, this may lead health insurers to integrate bitcoin into their day-to-day operations.
This is a guest post by Frankie Wallace. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
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