Page 14 - October 2018 Disruption Report Flip Book

DISRUPTION OF HEALTHCARE OJACNTUOABREYR 2018
How blockchain technology is revolutionizing healthcare
For healthcare providers, blockchain technology can eliminate the dependence on a centralized clearinghouse and ensure that the information is timely and accurate across all participants in the chain. “In short, blockchain technology could unlock the value of interoperability and allow for true coordination of care administration by replacing duplicative processes with a synchronized model that is efficient and effective,” wrote Doctors David Hanekom, CEO of Arizonia Care Network, and Daniel Nigrin, SVP and CIO for Boston Children’s Hospital. “In addition, it creates a permanent record of online transactions that can be securely stored and selectively shared with targeted users via a network of personal devices.”
This fall, Arizona Care Network, a Phoenix-based accountable care organization (ACO), will pilot will pilot a proprietary platform built by Solve.Care, using blockchain technology, cloud computing and cognitive learning capabilities to create CareCards, a smart decentralized healthcare application.
The pilot will be comprised of two phases. First, ACN Care.Wallet will display provider quality data and distribute provider rewards and incentives to Arizona Care Network’s 5,500 physicians in a convenient and transparent way. Phase two of the pilot, the Care.Wallet application will automatically and continuously synchronize insurance benefits information, including deductibles and co-pays, along with co-insurance and out-of-pocket expenses for the network’s nearly 300,000 member patients. Patients will have access to Care Card applications to receive immediate treatment authorizations, schedule doctor appointments and share accurate benefits information.
Blockchain technology will enable patients to access providers, understand their benefits and costs of treatment, and eliminate duplicative paperwork associated with insurance billing and payments. Importantly, a blockchain platform, such as Solve.Care, can give doctors a 360-degree view of a patient’s care, enabling the entire medical team to communicate, coordinate and eliminate unnecessary processes and procedures that drive up healthcare costs. In addition, providers have access to patient records, actionable data and benefits details in real time, which can positively impact patient care.
“The advent of new technologies come with an opportunity,” wrote Doctors Hanekom and Nigrin. “It is up to industry leaders to seize this opportunity as a means of making healthcare and benefits administration better for all.” (Healthcare Informatics, David Hanekom and Daniel Nigrin, 09/26/18)
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