CHARLESTON, S.C., Sept. 1, 2022 /PRNewswire/ — Black Ink Technologies Corp., an integrated hardware and software company providing end-to-end zero trust immutable solutions for products and services, confirmed today that it has licensed its 20th filed patent. “Management and Tracking of Patient Encounters and Medical Information including Immutable Tokens, Digital Assets, and Smart Contracts.”
A variety of studies over the last 2 decades have found that administrative expenses account for approximately 15% to 25% of total national health care expenditures, an amount that represents an estimated $600 billion to $1 trillion per year of the total national health expenditures of $3.8 trillion in 2019. Black Ink Tech subsidiary Paired Pharma Inc aims to “Put Care Back In Health Care” by utilizing blockchain, tokens, and NFTs to remove friction and provide immutable confirmed data to improve these admin processes, and reduce or eliminate fraud and patient encounter misclassification and thus ultimately save money which could result in lower health care costs to consumers. Ultimately, the platform makes the patient encounter experience easier and faster for both patient and health care professional allowing care, not paperwork, to become the priority.
Black Ink Tech has exclusively licensing 11 awarded patents this year alone related to NFTs, Blockchain, Smart Contracts, and Digital Assets. CEO Jeremy Blackburn stated “I am very excited about the coming month’s developments and product releases as we have exclusive rights to multiple awarded patents that form the foundation of our platform that we will be able to grow from for decades to come. The first patents related to blockchain and smart contracts were filed in 2019, and awarded in 2020, with additional filings expected to continue for the foreseeable future. This positions Black Ink Tech to competitively implement its platform across multiple industries, proving truth and providing transparency that ultimately benefits the consumer and overall industries by maximizing asset and service value through necessary efficiency creation.”
About Black Ink Tech
Founded in 2019, Black Ink Tech (BIT) provides transparency to every business and market segment by focusing on truth rather than trust in data information. With approximately 52 global team members on four continents, Black Ink Tech’s development and market growth never sleep. Through BIT’s multi-patented integrated blockchain software and hardware platform it produces end-to-end immutability which reduces or eliminates friction to increase efficiency, allows for full transparency, and maximizes product or service value. Initially starting in construction, BIT has expanded its product offering vastly and continues to expand to reach additional industries and markets.
To learn more about Black Ink Tech, please visit https://www.blackinktech.io
Tollen L, Keating E, Weil A. How administrative spending contributes to excess US health spending. Health Affairs blog. Published online February 2020. Accessed August 30, 2021. https://www.healthaffairs.org/do/10.1377/hblog20200218.375060/full/
Chernew M, Mintz H. Administrative Expenses in the US Health Care System – Why So High? JAMA Network article. Published online October 2021. Accessed August 20, 2021. https://jamanetwork.com/journals/jama/fullarticle/2785479#:~:text=A%20variety%20of%20studies%20over,of%20%243.8%20trillion%20in%202019.
SOURCE Black Ink Tech