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Capital One announced this week it is partnering with blockchain startup Gem to use the digital ledger technology to track claims for medical patients. I mention this not because it’s the most important story of the day, but because the notion of banks using the blockchain to address the nightmare that is our health payments system is just another sign of how quickly technology is changing the fundamentals of modern business.
Capital One is going to test out blockchain for health care claims and analytics, the company announced Monday.
Credit card and retail banking company Capital One revealed a handful of partnerships with several digital technology providers for its Treasury Management services — including a blockchain-based claims management solution for healthcare clients and another that uses new analytics processes to estimate healthcare patient costs.
Financial conglomerate Capital One is enhancing its Treasury Management Platform and focusing on healthcare applications by partnering with a host of digital technology providers, including blockchain specialists Gem.
US financial services company Capital One is working with blockchain startup Gem on a new healthcare claims project.
The human cost of financial exclusion was the central focus of Money2020’s first blockchain panel in 2016.
Here are companies that debuted revenue cycle management products for healthcare providers in the last month.
On October 4, at the Distributed: Health conference in Nashville, Tennessee, Gem CEO and co-founder Micah Winkelspecht announced the deployment of the GemOS platform, and introduced an initial proof of concept for the Revenue Cycle Management (RCM) pilot project that runs on the platform. This customized use of the GemOS blockchain was created to demonstrate the potential for automated reconciliation of medical data between providers, payers and financial institutions.
The Linux Foundation’s Hyperledger project has announced the formation of Hyperledger Healthcare Working Group (HLHC Working Group) that will aim to house and foster technical and business-level conversations about appropriate applications for blockchain technology in the healthcare industry.
Gem has announced its core product, blockchain platform GemOS, will have its first pilot project – Revenue Cycle Management – in medical claims processing, at the Distributed: Health conference in Nashville, TN.