Change Healthcare, an independent U.S healthcare IT company, announced on the 25th of September 2017, the launch of the first blockchain solution for enterprise usage in healthcare. This enables payers and providers to enhance revenue cycle efficiency, focus on real-time analytics, and reduce costs without having to build new codes or interfaces.
In fact, Change Healthcare will adopt the Linux Foundation’s Hyperledger Fabric 1.0, an open source blockchain framework for the design and development of the blockchain application.
Neil de Crescenzo ,CEO, Change Healthcare stated: “We are excited to work alongside our customers and partners to make blockchain real in healthcare. As today’s healthcare system becomes more value-based, it’s essential that we aggressively and pervasively introduce new technologies into healthcare at scale—whether they leverage blockchain, artificial intelligence, or other emerging capabilities with the potential to improve outcomes and efficiencies.”
Furthermore, Brian Behlendorf, executive director, Hyperledger, emphasized the importance of blockchain innovation in healthcare, when he said: “With its security, transparency of transactions, and ability for all stakeholders to access the same information, blockchain technology has potential to increase payment accuracy and revenue velocity, which will benefit payers, providers, and consumers themselves.”
The company’s Intelligent Healthcare Network, which processes 12 billion healthcare-related transactions covering over $2.0 trillion in claims annually, will start supporting, by the end of 2017, blockchain transactions.