Blockchain a Promising Technology to Advance Value-based Care

By February 22, 2018Blog

A lack of ability to exchange sensitive medical information electronically continues to prevent or delay the advancement of value-based care reimbursement for payers. They are doing their best to communicate with their providers about care gaps and quality incentives, but opportunities to improve care and outcomes are often lost due to the limitations of paper communications and manual transactions.

Payers are challenged by providers who struggle to keep up with their complex value contracts that they cannot understand and do not have the resources to apply consistently in their practices. Most physicians do not even know the quality measures that pertain to each individual patient1 while 80% are not even aware that there are incentives available to them.2

Blockchain, a security technology emerging in the healthcare industry as a potential solution to obstacles preventing interoperability, could help dissolve communication barriers between payers and providers. By facilitating the secure exchange of quality information in real time, Blockchain has the power to bring payers and their providers together in their mutual pursuit of improved patient outcomes.

Learn more about Blockchain, how it works, and how it can benefit payers. In this white paper, “How Blockchain Can Connect Payers, Providers and Consumers,” Payspan examines:

  • Blockchain’s emergence as a solution in the healthcare industry
  • How the technology works and provides a higher level of security than other technologies
  • The potential for Blockchain to solve trust issues between payers and providers by enabling transparency with regards to clinical and financial data
  • Blockchain’s benefits for commercial and public health plans, providers and consumers
  • Obstacles that will need to be addressed to successfully leverage Blockchain

Payspan evaluates how the technology can ultimately pave the way to happier, healthier members, reduced costs and revenue growth for payers.

Download the White Paper

Interested in Implementing Blockchain? Contact Payspan.

Payspan is on the forefront of the evolving healthcare financial landscape as it relates to payments automation, member engagement and quality management. Let us help you stay ahead of the curve by forming a partnership to implement a Blockchain solution that connects you in real-time with your providers and members. If you would like to discuss a potential partnership, or if you would just like to learn more about the technology, call 844-400-4043 or email salesteam@payspan.com.

 

1Quest Diagnostics/Inovalon, “Finding a Path to Value-Based Care,” June 2016
2The Physicians Foundation, “2016 Survey of America’s Physicians,” 2016