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Blockchain in Healthcare and Diversity in Blockchain

By Deborah Dobson posted 06-11-2018 12:13

  

There have been some interesting blockchain developments in the healthcare industry. I previously wrote about the Illinois Blockchain Initiative’s two healthcare pilots – one for provider identity management and the other for the birth registration process. Recently I learned about the launch of Change Healthcare’s blockchain network in January 2018. Also, I’ve been following the development of Diversity in Blockchain Inc. This is a non-profit committed to diversity in the blockchain industry being led by leading blockchain experts.

 

Blockchain in Healthcare

Nashville-based Change Healthcare (a network of 800,000 physicians, 117,000 dentists and 60,000 pharmacies) is leveraging blockchain technology for organizations to accurately track in real time the status of claims submission and remittance across the complete claim lifecycle. This not only improves transparency and efficiency, but also enables greater auditability, traceability, and trust providing better revenue cycle management. This is a new approach to revenue cycle management, and one that Change officials said will offer the ever sought-after “single source of truth” and will help drive innovation for care delivery and reimbursement.

While there are countless use cases for blockchain currently being piloted and experimented with across healthcare, Neil de Crescenzo, president and CEO of Change Healthcare, said Change's Intelligent Healthcare Network – which processes clinical, administrative and financial transactions across scores of healthcare organizations, including $2 trillion in claims each year – is able to "deploy blockchain at scale in addressing a highly administrative process, providing a launching pad for broad adoption."

The Intelligent Healthcare Network currently processes more than 50 million claims events daily and up to 550 transactions per second through its blockchain.

Change will continue to explore new areas where blockchain technology can be leveraged to help lower costs, improve quality and make healthcare more patient-centric. For example, putting blockchain to work in the tracking and visibility of data across the complete patient healthcare encounter – from check-in for a preoperative visit, through to the procedure and on to billing and payment.

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Diversity in Blockchain

One of the challenges the technology industry, along with many other industries, has struggled with, is diversity. To address this issue in the blockchain industry, Diversity in Blockchain Inc. (DiB) was incubated at MIT’s Legal Forum in conjunction with the MIT Media Lab the first quarter of 2018. DiB is a non-profit organization committed to creating equal, open and inclusive opportunities in the blockchain industry.

Each of the founders are blockchain pioneers and thought-leaders who work closely with industry leaders and Fortune 500 companies across the following sectors - finance, insurance, securities, native digital assets, smart contracts, supply chain management, startup consulting & advising, legal advice, artificial intelligence, cybersecurity, big data & analytics, identity, computer forensics, records management, investment & hedge fund formation, business strategy & integration, civil society, government regulation, leadership effectiveness, team development, cryptocurrencies & ICOs.

DiB will provide diversity best practices for the blockchain industry, and participate in partnerships to provide forums for education, discussion, and engagement through networking events, accelerators, conferences, published reports (Annual Report on the State of Diversity in Blockchain), and educational workshops.

The most recent partnership is with Blockchain for Impact. Blockchain for Impact is a community initiative of the Blockchain Commission for Sustainable Development, a multi-sectoral framework to support the United Nations system - along with Member States, Intergovernmental Organizations, the private sector, and civil society – in utilizing blockchain-based technologies to develop local, national and global solutions for the most pressing issues.

The partnership will work together on impact-oriented events including summits, subcommittee formations and curated content tracks to ensure the context of diversity is established in the industry across the board. “We are thrilled to be joining forces with Blockchain for Impact,” said Susan Joseph, Executive Director of DiB. “We believe that in order to find the best solutions for the many issues facing global humanity today it is essential to incorporate all perspectives. Through our partnership, we look forward to connecting diverse individuals and future leaders to blockchain initiatives that will change the world for the better.”

If you are interested in joining DiB or becoming a sponsor, fill out this form on their website.

 

Women to Watch in Blockchain

Continuing on the diversity theme, Bridget Greenwood, a marketing and content partner at BCB Group, wrote a really good post on women to watch in crypto and blockchain. One of the women mentioned is Dr. Mihaela Ulieru, an early blockchain pioneer who is a champion of leveraging blockchain technology to spur economic development. She is also responsible for the World Economic Forum recognizing blockchain as a Top 10 Emerging Technology in 2016.

The BCB Group recently launched BCB Engage to provide female investors with a trusted route to learn about and access digital currencies. The BCB Group provides tailored cryptocurrency brokerage services for institutional clients and high net worth individuals.

 

 


#Blockchain
#DiversityEquityandInclusion
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