Pro’s of introducing Bitcoins to the medical industry
Bitcoins don’t come with associated fees or tax charges. Since you don’t have any clearing house playing middleman, bitcoin transfers can occur tax-free with transaction fees that are nil or negligible, This makes them a cost-effective alternative to debit or credit cards. Another concern amongst patients is regarding the confidentiality of their medical records. Can Bitcoin be the solution to privacy woes in healthcare?
The anonymity that comes with Bitcoins definitely makes them a lucrative choice to many patients. While achieving complete anonymity sure takes some additional work, the Bitcoin is a far better improvement when compared to debit and credit cards.
A rising trend that is here to stay?
Many healthcare providers have begun offering the bitcoin payout option, although there seems to be an interesting niche forming, where Bitcoins are growing popular. Body sculpting healthcare providers, fertility clinics, Psychiatrists, dentists and cosmetic surgeons have welcomed Bitcoins with open arms as a payment alternative, owing to the enthusiasm it has faced from the patients. The patients are delighted by the prospect of having a payout option in hand that maintains discretion and respects privacy.
CoinMD, an online platform, also grew popular for its Bitcoin gimmicks. Through CoinMD, people post medical queries on the platform with a lengthy description of their medical woes, to obtain answers from anonymous doctors, whom they can then pay in Bitcoins. The online healthcare forum was met by mixed reviews from people and health practitioners.
A dentist in Finland was the first amongst private medical practices to accept Bitcoins in dentistry as a form of payment, back in August 2012. Following this, quite a few dentists worldwide, have opened up to the idea. Whether or not the bitcoins in dentistry idea will spread to a majority of dental facilities, only time will tell. With skeptics still weary of Bitcoins traceability and fraud practices, the long-term stand of Bitcoins in the medical industry is still quite hazy, as medical practitioners wait it out.