Change Healthcare Adopts Linux Hyperledger Fabricbr>
US-based healthcare IT firm Change Healthcare is developing a blockchain solution for enterprise-scale use in healthcare. The solution will enable payers and providers to boost revenue cycle efficiency, improve real-time analytics, cut costs, and create innovative new services.
Change Healthcare is a provider of revenue and payment cycle management and clinical information exchange solutions, connecting payers, providers, and patients in the US healthcare system.
Change Healthcare CEO Neil de Crescenzo said the company is collaborating with customers and organizations such as the Linux Foundation’s Hyperledger project to make the benefits of blockchain technology broadly available and develop additional, advanced use cases.
“We are excited to work alongside our customers and partners to make blockchain real in healthcare,” said de Crescenzo. “As today’s healthcare system becomes more value-based, it’s essential that we aggressively and pervasively introduce new technologies into healthcare at scale—whether they leverage blockchain, artificial intelligence, or other emerging capabilities with the potential to improve outcomes and efficiencies. We are initially introducing blockchain technology to create a distributed ledger that makes claims processing and secure payment transactions work more efficiently and cost effectively for all healthcare stakeholders.”
The company will employ Hyperledger Fabric 1.0, an open source blockchain framework and one of the Hyperledger projects hosted by the Linux Foundation, as its foundation for blockchain application design and development. Change Healthcare is a premier member of the Hyperledger governing board, and will be contributing code innovations back to the open source community to improve blockchain applications for the US and global healthcare industry.
Change Healthcare said that its Intelligent Healthcare Network will support blockchain transactions by the end of this year. This will enable customers to focus on analytics, revenue cycle and new services without having to write code or build additional interfaces.
“Change Healthcare is uniquely positioned to lead blockchain innovation for healthcare, and we are excited to participate in this transformative undertaking with them,” said Hyperledger executive director Brian Behlendorf. “With its security, transparency of transactions, and ability for all stakeholders to access the same information, blockchain technology has potential to increase payment accuracy and revenue velocity, which will benefit payers, providers, and consumers themselves.”