While there’s a lot of hype over blockchain in healthcare, some who work in the industry say that the product pitches so far are little more than pipe dreams.
The comments come as blockchain technology has become increasingly touted as a solution that could streamline everything from electronic health record (EHR) management to medical insurance, reducing complexity in a system that remains frustrating for consumers and participants alike.
But new interviews suggest that, while well-meaning, entrepreneurs exploring these applications aren’t quite showcasing why the technology is a match for industry problems.
“It’s just not possible for the healthcare industry to be real time as it relates to claims,” said Dr Alyssa Hoverson Schott, a physician at Sanford Health who started this conversation at the Distributed Health conference earlier this month.
Hoverson Schott sees about 39 patients per day, inputting medical visit and procedural codes for each patient in between visits.
“There’s often not time right then to input the codes,” she said.
These codes are then sent to insurance providers who review the claim and negotiate down the bill. This negotiation process, which goes back and forth between the hospital and the insurance provider, can go on for 90 days.
The real problem? Those offering tech solutions to the industry don’t actually understand the day-to-day flow of providing healthcare, Hoverson Schott argued.