Change Healthcare recently introduced a blockchain-based innovation in health. The company announced establishing a new infrastructure based on cloud network with support from Amazon Web Services (AWS). The infrastructure has been launched to promote transparent, efficient and secure financial and administrative transactions.
The company is taking everything slowly and step-by-step. As a part of its first stage of collaboration, it will be working with the stakeholders that are part of the entire healthcare ecosystem. It will first deploy the cloud-based network on AWS. Once the network has been deployed it will give the people access to use of blockchain-based technologies and govern transactions all through the continuum.
The process will benefit the providers and payers because the network will offer auditable, immutable record accessible all-time at considerably low administrative costs. Importantly, it also offers near-real-time adjudication. The President and EVP of Change Healthcare’s Network Solutions, Kris Joshi, said that they are in a unique position to access the experiences of provider, payer, and consumer being placed at the center and hence can witness and understand all the existing issues related to healthcare processing.
Mr. Joshi further added that this innovation in health business has been designed to deliver solutions to such problems. According to Joshi, the reliability, scalability, and flexibility offered by the AWS platform make it an ideal partner for the joint venture. He believes that AWS will help Change Healthcare to extend its connectivity to the cloud-based platform so that the next-generation technologies like blockchain can be reached to them, says Change Healthcare.
The technology will help people to increase the speed of payer-provider information exchange. In the coming days, the company intends to enlist the expertise as well as technologies of other companies in the space of healthcare so as to extend their reach and availability.
According to Healthcare IT News, the company through its blockchain-based innovation in health and wellness can kick off around 50 million milestone transactions of blockchain every day which averages to 550 transactions/second. The cloud-based network of Change Healthcare reaches almost all the commercial players and government organizations, 60,000 pharmacies, 800,000 physicians, and 5,500 hospitals.
The post Blockchain Innovation In Health Update: Change Healthcare Teams Up With AWS To Improve Efficiency appeared first on OWLT Market.
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