Nice idea. its only a matter of time.
Technology like this is inevitable.
It's heartening to see that you guys are being innovative and as per your research; yes a lot of companies are working on implantable microchips (VeriChip especially) that can be implanted in a human body to continuously monitor & report health of different organs and diseases such as diabetes or blood pressure.
Intel itself has been contributing a lot in the Biomedical Research and especially with their introduction of UHF RFID Transceiver R1000 that was later acquired by Impinj in July 2008. Here are a few interesting URLs I'd like to share with you guys just in case you haven't come across these:
Intel Go Green, Save The Environment!
I would love to have an implanted id tag. life would be so much easier.