HEALTHLEADERS: BLOCKCHAIN VENTURE PARTNERS WITH SPECTRUM, WELLCARE TO TACKLE CREDENTIALING

ANALYSIS

BLOCKCHAIN VENTURE PARTNERS WITH SPECTRUM, WELLCARE TO TACKLE CREDENTIALING

BY STEVEN PORTER     NOVEMBER 12, 2018

 

The goal is to reduce the time and cost associated with verifying professional credentials by facilitating the secure exchange of verified information among members.


KEY TAKEAWAYS

  • WellCare Health Plans and Spectrum Health are among five organizations involved in the pilot.
  • The program is a blockchain-powered credentialing information exchange that aims to save time and money.
  • The company, ProCredEx, is looking to expand and diversify its partners program.

Anyone in the healthcare industry who provides patient care or pays for it knows that credentialing for healthcare professionals can be a pain, often taking up to six months. That’s the problem a blockchain-based pilot project said it aims to solve in partnership with major health plans and providers.

WellCare Health Plans, which serves about 5.5 million members, and Spectrum Health, a 12-hospital nonprofit system in western Michigan, are among the five organizations participating in the distributed-ledger program, the companies announced last week.

See full article here: HEALTHLEADERS: BLOCKCHAIN VENTURE PARTNERS WITH SPECTRUM, WELLCARE TO TACKLE CREDENTIALING

Fierce Healthcare – Provider Credentialing

Two national insurers and a Michigan health system are joining a new pilot project aimed at simplifying physician credentialing with blockchain technology.

WellCare and Spectrum Health are among the founding participants in a pilot project launched by ProCredEx, a new company backed by Hashed Health, which specializes in blockchain and distributed ledger technologies for healthcare.

National Government Services, an Anthem-owned federal contractor that processes Medicare claims for the Centers for Medicare & Medicaid Services (CMS), has also joined the pilot program alongside The Hardenberg Group and Accenture.

 

Healthcare Infomatics Blockchain Discussion – MultiPlan – ProCredEx – Hashed Health – C3

In Nashville, a Candid Discussion of the Potential for Blockchain in Healthcare

July 10, 2018

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What are the realistic prospects for the adoption of blockchain technologies in U.S. healthcare? The opportunities exist, but so do seemingly countless complexities. On June 28 at the Sheraton Nashville Downtown, experts and innovators around blockchain shared their perspectives on the subject, during the Health IT Summit in Nashville, sponsored by Healthcare Informatics.

Giles Ward, COO of Hashed Health, a Nashville-based “healthcare innovation firm focused on accelerating the meaningful development of blockchain and distributed ledger technologies,”led the panel discussion, entitled “Use Cases for Blockchain in Healthcare.” He was joined by David Murtagh, vice president of operations, provider data management, at MultiPlan, a New York City-based company that “helps healthcare payers manage the cost of care, improve their competitiveness and inspire positive change”; he was also joined by Anthony Begando, CEO of the Nashville-based Professional Credentials Exchange, or ProCredEx, which provides systemic professional credentials verification services; and by Jeanine Martin, nurse advocate and clinical information leader at C3 Global Biosciences, Inc., a Las Vegas-based research firm involved in cannbidiol (CBD; medical marijuana) development and distribution.

Ward began by asking Murtagh about his perspectives on the research and development work done on blockchain in healthcare in the past two years. “Two years is actually a long timeframe to look back on,” Murtagh said. “We’re fortunate enough, because of the relationships we have, most of the partners are relatively small. United, United Health Group. Optum, Humana, and Quest Diagnostics, collaborative. There’s a relationship factor. United might have a really good relationship with a set of providers, that we don’t have. It’s not like there are certain provider groups out there that say we’re going to shun certain health plans. I believe that the real trigger for this industry to collaborate and use a technology like B that’s relatively unproven, has been driven by regulations. CMS started auditing provider directories of health plans, and for the commercial health plans, CMS has delegated the requirements to the states for audit requirements. And every state has done something different.”

 

Read the full article here: Healthcare Infomatics

June 2018 Nashville Blockchain Meetup – MultiPlan

 

The June 2018 Nashville Blockchain Meetup was an encapsulation of everything that makes the time and energy invested in Meetups worth while.  In partnership the Health IT Summit Series the Nashville Blockchain Meetup and all conference attendees were invited to an informal discussion at the Nashville Technology Council about the recently announced healthcare blockchain pilot program involving Optum, United HealthcareQuest Diagnostics, Humana, and MultiPlan.   As we await the release of the much anticipated whitepaper, details have been hard to come by,  so were thrilled to welcome David Murtagh who serves as  MultiPlan’s Vice President of Operations over Provider Data Management.  David offered a grounded, non-technical look at Multiplan’s approach to the technology, why they chose to participate, and the challenges of convening a network among industry peers and sometimes competitors.   Provider directory management is a fluid and complex.  He gave estimates drawn from their 2.5 million provider entries showing that 2-3% of the data changes every month which compounds to almost 50% of the data in a given directory turning over every 18 months.

At Hashed Health, we have long seen Provider Directories as a perfect early use case for blockchain – the data is unregulated and non-competitive.  For HIMSS 2017, we built a provider directory prototype on an early release of Fabric as a working example of what was possible with blockchain.   Relate-able  use cases and networks of known players are key as the industry looks for reasons to say yes to blockchain – this project is exactly that.

We are grateful for our partnership with Richard Tomko and Stephen McCollum at Healthcare Infomatics for bringing David Murtagh and Multiplan to Nashville for the events.  Please listen to the audio or watch the video of the meetup below.

 

 

See the article in Forbes:  “United Healthcare, Optum, Humana, MultiPlan and Quest Diagnostics launch blockchain provider director pilot

 

Audio Podcast of Meetup:

Video Recording of Meetup (sorry about the back lighting)


@MeetupNashville

@HCInformatics

 

 

Making the Healthcare System Work

Blockchain has been touted as a way to track diamonds or even prevent counterfeit goods — and the hype has spread to health care.

A blockchain is essentially a database in the form of what’s called a distributed ledger. That is, information is distributed across a network of participants. The participants can see activity on the ledger, but no single party controls it. Once data is in the blockchain, it can’t be changed. New information is timestamped and linked to the previous entries, making the blockchain auditable and secure.

Blockchain is probably best known as the technology that supports bitcoin, but its potential goes well beyond cryptocurrency. Innovators see promise in using a trusted, shared database of transactions for payments and money transfers, records and verification, to reduce risk and fraud.

The technology, while still evolving, is becoming mature enough that some states have announced that blockchain would be treated similarly to existing electronic record systems. This development should encourage broader acceptance of blockchain applications.

Steve Betts, chief information officer for Blue Cross and Blue Shield Plans in Illinois, Montana, New Mexico, Oklahoma and Texas, explains why health care innovators are excited about blockchain.

 

The perfect fit

Some experts also believe blockchain has the potential to revolutionize health care.

“The reason all the hype is there is because if it works, if it’s true — if half of it is true — it has the potential to fundamentally change market structures and the movement of value,” says John Bass, founder and CEO of Hashed Health, a company focused on solving problems in health care with blockchain technology.

“There’s so much potential to improve how care is delivered and paid for, and that’s got everyone very, very excited,” Bass says. “Part of what’s driving all the cost and quality problems is fundamental issues around trust, transparency and sense of alignment.”

That’s because the health care industry has so many different parties — insurers, doctors, hospitals, consumers and more.

These groups have their own data, and it’s often a struggle to share accurate, up-to-date information in a secure way. That’s what blockchain was designed to do.

And innovators are taking notice. More blockchain initiatives are focused on health care than any other sector, according to a report from the Stanford Graduate School of Business.

Bass is particularly excited about blockchain’s potential to shift the health care industry toward true value-based care — paying for care that improves patients’ well being and rewarding physicians for quality instead of the quantity of services they provide.

READ THE FULL ARTICLE HERE: LINK

Health Innovators: Let’s Get Practical, Blockchain in Healthcare

By NINA TALLEY, MedSpeaks

When it comes to blockchain in healthcare, Electronic Health Records (EHRs) dominate the conversation. The need to secure and move this highly sensitive data has long been a bottleneck in healthcare. Healthtech futurists are looking hungrily at burgeoning blockchain and related technologies as a part of the solution to this time-consuming problem. But are we truly there yet?

“Dreams of interoperability and self-sovereign medical records are nothing new,” said John Bass, CEO of Hashed Health, a healthcare innovation firm focused on developing meaningful utilization of blockchain technologies and networks. “It’s understandable that the big, disruptive blockchain use cases have captured the world’s imagination. The blockchain certainly provides an exciting new framework for these solutions. But we have to figure out how to get from here to there.”

Read the full article here: Health Innovators: Let’s Get Practical, Blockchain in Healthcare

 

Healthbox Innovation Rising Podcast

About Innovation Rising:

Innovation Rising, presented by Healthbox, examines the intersection of innovation and healthcare from a variety of viewpoints featuring interviews with the leaders who are moving our industry forward. The podcast is arranged in 3-episode series around a specific topic in healthcare or innovation. In each of the 3 episodes, we interview a hospital or health system using this innovation, an investor who has invested in this sector and their thoughts on why and the future of the sector, and finally an interview with a founder of a solution in this space, respectively.

 

In this episode:

Our guest today, John Bass, joins the podcast to talk about the use of the blockchain in healthcare and how it will drive innovation, now, and in the future. John is the Founder and CEO of Hashed Health, a healthcare blockchain innovation firm focused on building the new digital infrastructure for healthcare. John has over 20 years of experience in healthcare technology with expertise in shared operating systems that build trust, transparency, and incentives across health networks.

Prior to Hashed Health, John was CEO at InVivoLink, a care management start-up which sold to HCA in 2015. Since then, John has been a leading voice in the development of the global healthcare blockchain market and is focused on community development, enterprise services, and blockchain solutions development.

Topics we cover in this episode:

John’s background and focus on improving patient outcomes

When the blockchain actually came to be and when and why it piqued John’s interest

What the blockchain is

The types of problems using the blockchain in healthcare aims to solve and how Hashed Health aims to accelerate this process

How the blockchain will truly be disruptive in healthcare

On March 26th Richard Close and Brian Hoffman of Canaccord Genuity  hosted a call to discuss blockchain in healthcare with John Bass, CEO of Hashed Health.  We can connect you if you would like to read the full report.  Canaccord Genuity Industry Update Report blockchain healthcare

Reference: Canaccord GenuityRichard Close , Brian Hoffman, John Bass

#018 – October 5, 2017

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How Blockchain Technology is Helping to Clean the Niger River

 

Healthcare’s Challenges with Blockchain – A Promising but Bumpy Ride!

 

The Critical Skills for Leading Major Change in America’s Health System

 

Blockchain Activity Grows Sharply for Healthcare Payers, Providers

 

What Harvey Is Teaching the Health Care Sector About Managing Disasters

 

Blockchain interest gaining, but cost questions cause providers pause

#016 – September 7, 2017

Medical Society of Delaware Tests Blockchain to Improve Healthcare Access

 

Alibaba Partners Chinese Govt to Trial Blockchain in Healthcare

 

Value-based Healthcare: A Global Assessment

 

Health Care Providers Can Use Design Thinking to Improve Patient Experiences

 

The State of Illinois Moves Provider Credentialing to the Blockchain

 

China’s ICO Ban Doesn’t Mean It’s Giving Up On Crypto-Currencies