Every day, the payers, providers, and data suppliers of the Synaptic Health Alliance collectively validate the accuracy of millions of public provider records, removing costly friction, easing back-office burdens, and building a trusted, secure, and expanding resource.
A shared ledger improves productivity and reduces costs for every Alliance member. Thus far, Alliance participation has resulted in a 500% ROI annually for Multiplan.Michael Kim, SVP/CIO, MultiPlan
The efficacy of blockchain grows by network effect and the value of it is really relational to who's participating. The more people we have contributing data, the better it is going to be. The faster we can get data, and the more elements we can get, the more accurate that information is going to be.Kyle Culver, Director of Emerging Technology, Humana
Blockchain technology is helping reduce administrative burden for both providers and insurers, and more accurate provider directories are helping our members access the care they need in a more timely manner.Keith Koszuta, Senior Director of Provider Operations, UnitedHealthcare
The potential benefits of blockchain technology are staggering given the need to streamline how healthcare data is managed and to ensure security, in addition to the opportunity for collaboration across traditional industry and competitive boundaries. With the goal of improving member, provider, and payer experiences and removing healthcare system costs, we have identified many potential uses, including:
Blockchain is a secure, traceable and nearly instant way to synchronize information across multiple sources. What does this really mean? It means that information is shared and not just transferred. The result is a transparent database, where all members see the same information, and updates to the data are recorded and approved. The technology prevents human error, and more important, it protects against “bad actors” seeking to corrupt the system.