Blockchain might make alternative payment models work better
Altarum Institute has signed on with a work group formed by Hashed Health – a consortium of companies focused on applying blockchain technology to healthcare – to help build distributed ledger networks for alternative payment models and more.
Nashville, Tennessee-based Hashed Health is working on blockchain applications across healthcare such as revenue cycle management, medical records, payment reform, supply chain logistics and IoT.
Its team members bring expertise to product-specific work groups to give product development, network development and support services to blockchain and distributed ledger applications.
In February, Hashed Health secured an initial funding round of nearly $2 million, led by Martin Ventures.
"The healthcare industry must be drastically reformed in order to address problems related to quality, cost and waste," said the fund's founder Charles Martin, at the time. "Hashed Health is poised to drive innovation and collaboration to reach these goals."
Altarum Institute, a nonprofit research and consulting group, works to apply field-tested solutions to help transform healthcare.
François de Brantes, vice president and director of Altarum’s Center for Payment Innovation, said blockchain technology can address "operational roadblocks to implementing healthcare payment and benefits models," and said the work with Hashed Health can help "propel the implementation of alternative payment models far further than they otherwise could."
"The addition of The Altarum Institute to our community brings Hashed together with one of the world’s thought-leaders in payment innovation and sustainable health spending," said John Bass, CEO of Hashed Health, in a statement. “Our combined expertise will play an important role in advancing new, sustainable payment and benefit solutions in healthcare.”