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– A new health blockchain initiative has been launched to facilitate the administrative burden of professional credentials, a process that can take four to six months to complete.
The effort, called Professional Credentials Exchange, includes national government services, spectrum health, WellCare health plans, Accenture and the Hardenbergh group.
Hospitals can renounce an average of $ 7,500 in net daily revenue pending registration credentials and payers are completed, according to a version of the new group. Most of the organizations required to do this work do it independently, which creates a significant administrative burden for professionals.
The exchange will improve the efficiency of the process by facilitating the secure and reliable exchange of verified credentials among the members of the exchange.
"A key component of the development of the exchange is building a network of members who bring significant market credentials back to the market," said ProCredEx Cofounder and CEO Anthony Begando.
ProCredEx, in collaboration with Hashed Health, is developing and managing the Exchange of professional credentials.
"These are the main participants of a growing group of collaborators who provide data and implementation capabilities to accelerate the implementation and scaling of the exchange," added Begando.
Improving the credential process was one of the areas identified by PwC in which blockchain could have a disruptive impact on health care.
"A blockchain-enabled system would allow us to share and update data related to the credential process of the provider and the payer in real time, processes that take weeks or months could be achieved in days," the PwC report noted.
Other areas where health blockchain could have a disruptive impact include supply chain management, contract administration and data management.
The report, A Prescription for Blockchain and Healthcare: Reinvest or Reinvented, predicted that blockchain technologies would allow healthcare organizations to "reinvent" the way they access, collect, distribute, share, exploit, monitor and control data.
He warned that organizations that are late in adopting the blockchain may lose those using technology to reduce costs and increase efficiency.
PwC advised health organizations to identify where blockchain can improve operations and interactions with partners and move quickly to implement projects.
Health blockchain projects are already underway, so time is running out for organizations. According to a survey conducted by PwC on global health societies, almost half said they were developing, piloting or implementing blockchain projects.
"Health organizations manage many complex, data-intensive manual processes, often performed by brokers who manage data and trust mechanisms, and Blockchain could simplify and automate these processes, in some cases saving companies weeks of effort, revenue and opportunities lost, "notes the report.
Blockchain technology is becoming increasingly popular among health organizations as they look for safer and more efficient ways to exchange information and conduct transactions with third parties.
Last year, a group of blockchain sellers and Fortune 500 companies met to discuss the need for collaboration to overcome the challenges faced by the adoption of blockchain and the Internet of Things.
The group agreed that security, trust, identity, registration and verification must be key elements of any blockchain initiative.
"We have convened leaders in blockchain, hardware, software, venture capital, technology and finance to discuss interoperability and security issues within the IoT and how to integrate existing IoT platforms with a back-end blockchain, "said Skuchain Co-founder Zaki Manian. "We believe there is a real value proposition for IoT, supply chain and trade finance here."
BNY Mellon Head of Blockchain Alex Batlin said: "What is missing today is a solution that provides reliable tamper-proof guarantees for any deed of ownership, public registration, compliance event or transaction, based on the way paper documents they are used at the moment. "
Added CTO of BitSE Patrick Dai: "If we want to protect the Internet of objects, we must standardize the way we identify, manage and communicate with Internet-enabled devices through blockchain technology.With a standardized protocol, more people will be able to share these benefits. "
