EVALUATING THE EFFECTIVENESS OF BLOCK CHAIN ACCOUNTING IN CURBING FINANCIAL LOSSES IN THE HEALTH SECTOR

ABSTRACT : This study assesses the effectiveness of blockchain accounting in mitigating financial losses in the health industry, with an emphasis on eliminating fraudulent financial transactions, minimizing billing mistakes, improving financial reporting efficiency, and increasing openness and accountability. Financial losses from fraud, inefficiency, and poor record keeping continue to be serious concerns in healthcare across the world. Blockchain technology, with its decentralized, immutable ledger and smart contract capabilities, presents a viable answer to these problems. Data were obtained from hospital financial managers and analyzed using multiple regression to determine the association between blockchain accounting and financial loss reduction. The findings show that blockchain accounting minimizes fraud and duplicate payments, simplifies financial reporting, and improves financial transparency in healthcare institutions. However, impediments to wider adoption include interaction with existing systems, regulatory uncertainty, and opposition owing to a lack of technical experience. These findings are consistent with prior empirical research and highlight the need for comprehensive policy frameworks, capacity-building programs, and infrastructural expenditures to facilitate efficient blockchain adoption. The study adds to knowledge by addressing gaps in understanding of sociotechnical problems and regulatory impediments to blockchain implementation, as well as advocating for uniform assessment criteria and longitudinal research in a variety of healthcare situations. The findings have practical significance for hospital administrators, regulators, and researchers looking for novel approaches to improving financial governance and accountability. Finally, this study recommends blockchain accounting as a revolutionary instrument for reducing financial losses and increasing resource utilization in the global health industry