Change Healthcare Launches Healthcare Industry's First Enterprise-Grade Blockchain Solution for Claims Management Transparency

Recently, Change Healthcare in Nashville, Tennessee, announced the launch of a product featuring claims management transparency on its blockchain-based intelligent healthcare network, marking it as the first enterprise-grade blockchain in the healthcare industry.

By leveraging blockchain technology, enterprises can track the status of submissions and remittances throughout the entire claims cycle in real time and with precision. In addition to enhancing transparency and efficiency, integrating blockchain into smart healthcare networks helps improve auditability, traceability, and trustworthiness, thereby optimizing revenue cycle management for businesses.

The single source of truth created by blockchain will spur more innovative services, thereby establishing a more streamlined, patient-centric healthcare system.

Change Healthcare Intelligent Medical Network Blockchain

Change: Intelligent Healthcare Networks and Blockchain Claims Management Transparency

Applying Blockchain to Revenue Cycle and Payment Processes

Neil de Crescenzo, President and Chief Executive Officer of Change Healthcare, stated, “We are delighted to collaborate with our customers, starting with revenue cycle and payment processes, to apply blockchain technology in improving the way consumers and providers interact. The widespread adoption of the Intelligent Healthcare Network enables us to rapidly deploy blockchain solutions for highly efficient process management. We will continue to leverage blockchain and other technologies to develop additional applications that make healthcare more patient-centric while addressing issues of cost and quality.”

As one of the largest independent healthcare IT companies in the United States, Change Healthcare leverages its intelligent medical network to process clinical, administrative, and financial transactions among tens of thousands of healthcare industry stakeholders—including physicians, hospitals, service providers, and government entities—handling over $2 trillion in claims annually.

In collaborating with industry clients, Change Healthcare continuously introduces value-added services and advanced analytics tools.

Currently, the intelligent healthcare network processes over 50 million claims daily via blockchain, with a throughput of 550 transactions per second. This capacity and speed even exceed the national requirements for daily transaction load and throughput. As the adoption rate of blockchain technology increases, there will inevitably be a need for additional scalability. With further optimization and expansion of solutions, a significant growth in performance baseline is expected.

Aaron Symanski, Chief Technology Officer of Change Healthcare, stated, “With this solution, we have demonstrated that blockchain technology can be effectively applied to high-volume, high-throughput transaction processing in the healthcare sector, thereby expanding the market for innovative blockchain-based products and solutions. Currently, we have begun exploring additional new products.”

One area of exploration involves leveraging blockchain technology to provide a single source of truth, enabling accurate tracking and thereby enhancing visibility across the entire healthcare service continuum for patients. This encompasses the full spectrum of processes, from preoperative consultations through surgical procedures and nursing care, to final payment settlement.

Symanski stated, “Blockchain technology not only enables accurate tracking but, due to its immutability, allows every participant to view it, thereby opening the door to patient-centric experiences and streamlined processes.”

It is reported that Change Healthcare has adopted the open-source blockchain framework Hyperledger Fabric™ 1.0. As one of the projects under the Hyperledger initiative hosted by The Linux Foundation, it serves as a foundation for the design and development of blockchain applications.

As a premier member of the Hyperledger Governing Board, Change Healthcare is contributing innovative code to the open-source community to enhance blockchain applications in the global healthcare industry.

Source: Business Wire, January 8, 2008, Nashville, California.