Current Situation
Smart claims payments built using blockchain technology is in the nascent stage with only a few innovative healthcare organizations initiating proof-of-concept projects.
Goals and Objectives
Create new transaction models to improve provider contracting and claims adjudication. Reduce costs and improve transaction security. Achieve real-time adjudication.
Technology Deployed
Distributed ledger technology; Private ledgers; Smart contracts (which are a combination of blockchain DLT, legal code, and programming code)
Use Case Summary
Smart claims payments using blockchain technology will ultimately evolve from proof-of-concept projects developed by healthcare organizations to being incorporated into solutions provided by independent software vendors (ISVs) to provide more robust payment and payment reconciliation capabilities.