InnovationRx: The Blockchain 50
In this story:
- Big hospital systems are also looking to blockchain as a way to speed up time-consuming administrative processes.
- In 2019, Providence, a not-for-profit Catholic health system, acquired Seattle health-tech startup Lumedic to tackle “prior authorization” — when a doctor needs to check with a patient’s insurer to ensure certain surgeries or medications will be covered.
- In 2021, 16 of Providence’s hospitals and four clinics across Washington, Montana and Oregon were using its shared ledger to speed up prior authorization processing time from days to hours.
This original article was published in Forbes, February 9, 2022.