Market Overview

Change Healthcare Introduces Enterprise Blockchain for Healthcare

Share:

Blockchain to be live at scale by the end of 2017, enabling improved
effectiveness for health transactions

Change Healthcare today announced the launch of the first blockchain
solution for enterprise-scale use in healthcare, enabling payers and
providers to boost revenue cycle efficiency, improve real-time
analytics, cut costs, and create innovative new services. As one of the
largest independent healthcare IT companies in the United States, Change
Healthcare services customers across the continuum of care, using its
Intelligent Healthcare Network™ to process 12 billion healthcare-related
transactions covering over $2.0 trillion in claims annually.

This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170925005820/en/

Change Healthcare Intelligent Healthcare Network Infographic (Graphic: Business Wire)

Change Healthcare Intelligent Healthcare Network Infographic (Graphic: Business Wire)

Change Healthcare Chief Executive Officer Neil de Crescenzo made the
announcement during his keynote address at the Distributed: Health 2017
conference today in Nashville, Tenn. Mr. 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 Mr. 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 Change Healthcare Intelligent Healthcare Network™ will support
blockchain transactions by the end of this year. Customers and vendor
partners will not have to develop new code, interfaces, or data formats.

Change Healthcare 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 U.S. and global healthcare industry.

"Change Healthcare is uniquely positioned to lead blockchain innovation
for healthcare, and we are excited to participate in this transformative
undertaking with them," said Brian Behlendorf, executive director,
Hyperledger. "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."

Today's announcement is the latest in a series of strategic actions
taken by Change Healthcare. The company became
the first healthcare IT vendor to join Hyperledger as a Premier member
in May
. With today's announcement, Change Healthcare is further
cementing its position as a leading IT innovator to accelerate adoption
of blockchain and other innovative technologies in the healthcare
industry.

About Hyperledger

Hyperledger is an open source collaborative effort created to advance
cross-industry blockchain technologies. It is a global collaboration
including leaders in finance, banking, Internet of Things, supply
chains, manufacturing and Technology. The Linux Foundation hosts
Hyperledger under the foundation. To learn more, visit: https://www.hyperledger.org.

About Change Healthcare

Change Healthcare is inspiring a better healthcare system. Working
alongside our customers and partners, we leverage our software and
analytics, network solutions and technology-enabled services to help
them improve efficiency, reduce costs, increase cash flow, and more
effectively manage complex workflows. Together, we are accelerating the
journey toward improved lives and healthier communities. Learn more at www.changehealthcare.com.

View Comments and Join the Discussion!
 

Partner Center

Loading...