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Will blockchain save the healthcare system?

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In this article, Modern Healthcare highlights recent innovations in blockchain, spotlights the Synaptic Health Alliance, and features insights from Optum blockchain expert Mike Jacobs. Read the insights and conclusions in this article now.

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Blockchain Transcript

Optum Logo] Blockchain is getting a lot of attention lately. But what can it really do for health care? Blockchain may be one of the most revolutionary internet technologies yet; enabling loosely-coupled organizations to share and process information in ways that haven’t been possible before. So, what is a blockchain? It’s a shared, distributed ledger on which transactions are chronologically recorded in a cooperative and tamper-proof manner. Blockchain technology offers excellent resiliency, security and data integrity to your business - by creating a synchronized, single source of truth drastically reducing cost tied to reconciliation and building trust and data shared among all health care players. It also reduces the need for manual processes by automating important business transactions through the use of smart contracts. The potential for blockchain technology in health care is staggering. Administrative burden will be reduced for providers, helping them focus on what’s important - the patient. Payers will realize cost savings because claims processing, coordination of benefits and payments will be streamlined. Patients will be able to access all of their health care history no matter what plan or doctor was involved—and control who can see their information. Medications will be safer because blockchain technology will keep counterfeit or inferior materials from entering the manufacturing supply chain. Blockchain is much more than a technology. It’s an opportunity. An opportunity to improve patient care and reduce the cost of health care by changing how information is shared, stored and processed. We are seizing that opportunity and leading the health care blockchain revolution. Are you ready to join us? [Optum Logo]
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What can blockchain do for health care?

Blockchain is more than a technology. It's an opportunity to improve care across the health system. Watch this short video for an overview on what blockchain is and how it can help payers, providers, pharmacies and patients.

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A reastic approach to blockchain

What is blockchain technology and how can it be used effectively in health care? And, how can health IT leaders approach a blockchain initiative in their organization?

In this executive viewpoint article, Optum technology experts Mike Jacobs and Lorraine Frias tackle those questions. They also share near-term use cases, guidance for building a blockchain alliance and advice for creating a blockchain mindset.

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Mike Jacobs

Senior Distinguished Engineer, Product Engineering and Data Solutions, Optum

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"Blockchain can provide the convenience your members demand, and the control and cost-savings you need in health care transactions."

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Blockchain reality check

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Myth-busting: Learn more about blockchain.

Article 1: Understand what is and isn't possible with blockchain technology.

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Podcast 1: Discover blockchain's potential impact on managing provider directories.

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Discover how blockchain is being used right now.

Article 2: Learn more about current blockchain use cases to break down data silos.

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Podcast 2: Discover this technology's impact on longitudinal health records.

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Read the advice for building a blockchain program.

Article 3: Step-by-step guidance on how to build a blockchain pilot program.

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Podcast 3: How to find and collaborate with the right partners for your pilot.

LISTEN TO PODCAST 3

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