The revenue cycle and analytics company, which merged with McKesson’s technology business in March, will bring blockchain to its administrative and financial network by the end of the year.
Change Healthcare’s new blockchain technology will help health care systems more efficiently process claims and payments, according to the head of the revenue cycle and analytics company.
“As today’s healthcare system becomes more value-based, it’s essential that we aggressively and pervasively introduce new technologies into healthcare at scale,” said Change Healthcare CEO Neil de Crescenzo, speaking in Nashville Monday.
One of those technologies is blockchain, an encrypted system of data exchange that relies on a distributed ledger, a record of all transactions that have occurred, digitally chained together. Once recorded, the individual transactions cannot be deleted, changed or modified. The technology was created to help facilitate the exchange of Bitcoin. But blockchain holds great promise for healthcare. It’s efficacy, however, depends in part on adoption, and so far, few in the industry have begun using the technology.