Payers are sizing up the ledger technology for payments and claims processing, but one big area of growth could be next-generation personal health records.
It may be at the peak of hype cycle right now, but blockchain technology has been enticing stakeholders in all areas of healthcare with its potential for a new and secure approach to data exchange.
Its prospective use case are many and diverse – not least when it comes to revenue cycle management and claims processing, said Dave Watson, executive vice president at SSI Group, an RCM and analytics company.
Watson has been closely following the evolution of the distributed ledger technology for some time. Not least, he says, to monitor its potential to disrupt his own line of work.
“One of our big business segments is clearinghouse and claims management services,” he said. “You’ve got some of the big payers looking at blockchain and making public pronouncements that they’d like to find ways to disintermediate the clearinghouses and go directly to the providers. Folks like me tend to perk up and pay attention when we hear that, so I’ve been tracking this for a while.”