Predictors of Commercial Success in Blockchain Healthcare Insurance: A Mixed-Methods Market Analysis

Authors

  • Raaga Likhitha Musunur i, BDS, MS Masters Students in Health Informatics, Bouvé College of Health Sciences and Khoury College of Computer Sciences, Northeastern University, Boston, Massachusetts, USA https://orcid.org/0009-0008-6823-8054
  • Kimberly S. Brooks, MD, MS Masters Students in Health Informatics, Bouvé College of Health Sciences and Khoury College of Computer Sciences, Northeastern University, Boston, Massachusetts, USA
  • Swapna Ashish Patel, BPharm, MS Masters Students in Health Informatics, Bouvé College of Health Sciences and Khoury College of Computer Sciences, Northeastern University, Boston, Massachusetts, USA https://orcid.org/0009-0009-8905-8404
  • Trupti Jayesh Majgunkar, MS Masters Students in Health Informatics, Bouvé College of Health Sciences and Khoury College of Computer Sciences, Northeastern University, Boston, Massachusetts, USA https://orcid.org/0009-0009-2195-7091
  • Krisha Patel, BS, MS Masters Students in Health Informatics, Bouvé College of Health Sciences and Khoury College of Computer Sciences, Northeastern University, Boston, Massachusetts, USA https://orcid.org/0009-0000-2675-4060
  • Erin O'Neill, MS Masters Students in Health Informatics, Bouvé College of Health Sciences and Khoury College of Computer Sciences, Northeastern University, Boston, Massachusetts, USA

DOI:

https://doi.org/10.30953/bhty.v8.401

Keywords:

blockchain, commercial success, gdpr, healthcare insurance, hipaa compliance, market capitalization, regulatory factors, digital health, interoperability, implementation barriers

Abstract

Blockchain healthcare insurance offers significant potential for improving healthcare data transparency, efficiency, and security. However, many blockchain healthcare projects struggle to scale and achieve commercial success. Despite technical feasibility studies, there is limited research on the commercial success factors influencing these projects. This paper explores the technical, regulatory, and strategic factors that determine market success in blockchain healthcare insurance projects. Using exploratory mixed methods, the study combines quantitative market data analysis using the CoinGecko API with manual metadata curation from publicly available data. We conducted descriptive statistics, Pearson correlation, and multiple regression analysis to evaluate the relationships between key variables and market success. The results show that HIPAA compliance is a significant predictor of higher market cap (β = +12.6, p = 0.006), while insurance partnerships negatively impact success due to early-stage complexity (β = -15.3, p = 0.009). The model explains 95.7% of the variance in market cap (Adjusted R² = 0.957). These findings suggest that regulatory alignment and technical readiness are critical for blockchain healthcare insurance commercialization. Team size was moderately correlated with market success (r = 0.83). Analysis of the correlation heat map revealed strong relationships between compliance and organizational scale, suggesting that both are crucial for success. The thematic analysis of white papers highlighted the importance of regulatory readiness and strategic partnerships. Entrepreneurs should prioritize early regulatory compliance, mainly HIPAA, while investors should focus on projects with clear regulatory strategies. Policymakers are encouraged to clarify regulatory frameworks for blockchain in healthcare. Future research should expand the sample size and include longitudinal data, focusing on both successful and failed projects to gain a more comprehensive understanding of success factors in blockchain healthcare insurance. 

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Published

2025-07-30

How to Cite

Musunuri, R. ., Brooks, K., Ashish Patel, S. ., Trupti Jayesh Majgunkar, Patel, BS, MS, K., & O’Neill, MS, E. . (2025). Predictors of Commercial Success in Blockchain Healthcare Insurance: A Mixed-Methods Market Analysis. Blockchain in Healthcare Today, 8(1). https://doi.org/10.30953/bhty.v8.401

Issue

Vol. 8 No. 1 (2025): Blockchain in Healthcare Today Platform Approaches Journal

Section

Original Research

License

Copyright (c) 2025 Erin O’Neill, MS, Krisha Patel, BS, MS, Swapna Ashish Patel, BPharm, MS, Trupti Jayesh Majgunkar, MS, Krisha Patel, Erin O'Neill

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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

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