Data portability, track-ability and analysis is continually a problem in the healthcare sector. These deficiencies lead to lost time and money as well as deficiencies in patient care. Fixing these problems will improve the overall experience and wellness of patients while saving time and money for hospitals and private providers alike. Fortunately, Simply Vital Health has developed a blockchain based based solution that is simple, easy to use and integrates with existing systems.
SimplyVital Health – Blockchain value based care using blockchain
Founder of Simply Vital Health, Katherine Kuzmeskas, MPH, has a strong passion for patient centric quality care. She saw opportunity for the makings of Simply Vital Health while working at the Center for Musculoskeletal Care. She states: “I heard physicians and nurses say over and over again how they wanted to be able to see how their patients were recovering after they left the hospital. Hearing directly from the clinical team that they wanted a more direct connection to their patients was excellent validation.”
Virtually every provider is concerned with following clinically validated, government and insurance approved care plans to assure that the care will not be denied for payment. Simply Vital Health provides an online tool powered by blockchain technology that monitors and records providers as they administer every step along the value chain. If a provider forgets a step, they can quickly check the platform to see which process has been overlooked. One of blockchains key features, an immutable audit trail, enables providers a sense of quality assurance. If the government or insurance provider seeks to deny coverage, the process can be quickly and securely shared to confirm that all of the appropriate steps were taken. This level of automated efficiency allows providers more time to focus on their patients, and less time worrying about record keeping.
Similarly, providers are constantly concerned with the cost of care and revenue associated with care. Without careful monitoring, costs can balloon out of hand and cause major losses. Simply Vital Health provides an extremely valuable tool that tracks payments and processes closely. It includes the prospective payment programs and helps providers understand the true financials. This data is securely held with blockchain technology in an easy to use and understand format as well.
Providers are often met with intense data demands from industry associations, internal efficiency standards, clinical best practices and of course government and insurance payment demands. Simply Vital Health allows for tracking of CMS programs including MACRA and APMs through its simple tool. It conducts advanced analytics and also intensive monitoring. Physicians and provider management will have a much better window into their operations. The tool creates custom reports and can be shared internally and externally through the highly secure blockchain format.
Without these reports or data availability, audits and denials of payment are common. Institutions need to prepare for these consequences and take preemptive action to avoid the pain and cost of an audit or denial. Without a sophisticated tool that can access the correct data rapidly, an institution may be in store for a painful process, even if they have done everything correctly.
Best of all, these monitoring and tracking systems integrate seamlessly into existing legacy software systems. While a back-end system run entirely on the blockchain is theoretically possible, it is still not a reality for almost any health care provider. For that reason, Simply Vital Health recognized that it would have to produce a tool that integrates with existing system. Their blockchain solution is easy to input as an add-on to the most popular existing systems. In addition, the company can work with providers to customize the solution to the individual demands of an institution.
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Brennan is a blockchain technical adviser in the healthcare sector and blockchain entrepreneur who has worked on developing proprietary concepts for both artificial intelligence and enterprise blockchain. He is a graduate of Rutgers University School of Health Professions where he earned a M.S. in biomedical informatics.