Advanced Revenue Cycle Analytics: An Overview
Experts at the HIMMS19 conference discussed blockchain technology and the potential it could hold for healthcare. It’s not going to be the perfect solution to every problem that faces healthcare technology today, but there are many exciting opportunities that experts believe could be realized in 2019.
What is blockchain technology?
As a refresher, blockchain technology is a form of distributed ledger technology, or DST. It is a way of storing data in a secure and unchangeable manner. It keeps a record of data exchanges in a decentralized way so that the data cannot be altered or corrupted. As Jim Tate, the founder of Elysian Blockchain, said at the HIMMS19 Blockchain Forum, “Trust is encoded in the software.” This trust is one of the reasons why blockchain technology seems to be a good fit for healthcare.
During the HIMMS19 conference, four uses were discussed for blockchain technology in 2019:
- Revenue cycle management
- Clinical trials and research
- Patient treatment adherence
- Monetization of data
While there are a variety of other problems that blockchain could be applied towards, these four were discussed as areas where innovators will drill down in 2019. Advances were made in previous years, and as it gathers steam, this could be the year of blockchain.
Healthcare is not a static industry. The needs that technology can help meet are always changing, and innovation will always be necessary. One need that is constant is the need for a better EHR user experience. Looking for a more user-friendly interaction with your screen? We think the answer is to design your own. Click here for a free demo of your own personalized EHR screen.