Everyone in this industry has been dreaming of interoperability for a long time. Blockchain is a key to that. Better quality data leads to better decision-making, better patient care and experiences – that’s the promise of what this alliance hopes to deliver.Lidia Fonseca, Chief Information Officer, Quest Diagnostics
We’re looking forward to exploring how blockchain technology can make the process more efficient while reducing costs, ideally to build investments that can enhance the provider and patient experiences.David Murtagh, Vice President of Operations, MultiPlan
Blockchain is the trigger that brought us together, but the collaboration to solve widespread healthcare problems is our real goal. We envision the possibility of effecting change at scale – helping to make the health system work better for everyone.Mike Jacobs, Senior Distinguished Engineer, Optum
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.