Medical Blockchain Credentialing -Lead, Follow or Get Left Behind

There is a lot of buzz surrounding blockchain and its potential to solve some of the fundamental issues present with the current medical credentialing processes. Duplication of efforts results in vast amounts of wasted time and money.  This waste ultimately increases the costs of medical services to healthcare consumers. Blockchain, like any other new technology, has its nay-sayers: those that take a fatalistic view of whether it can live up to the hype. These nay-sayers believe everything around the decentralized blockchain is too large, too expensive, will take too long, will only work in the interests of those bankrolling such a massive system, and the results aren’t really any different by the time they get to the end-user than the centralized solutions used now.

What do the authors say to these folks? In 30 years, no one has managed to build a truly functional centralized system that collects the necessary documents and complete verifications needed for both hospital credentialing and payer enrollment. Why? Because the “one database to rule them all” concept would also cost millions of dollars and be subject to the whims of whoever was financing it. Those of us in the credentialing trenches understand that the current method of storing data in silos is cumbersome and inefficient for all stakeholders.  It is true blockchain may take time to garner a consensus and become the source of truth for healthcare professional data. However, even partial adoption of the blockchain is possible and immensely useful due to its distributed nature.

Readers of a certain age will remember the furor of the late 1990s and early 2000s about a little program called “Napster”, as well its friend “Kazaa”, and the still-functioning descendant BitTorrent. Napster is one of the most famous examples of Peer to Peer (P2P) networking software.  The service grew to 80 million users in 2 years because of its simplicity.  All it took to use was a small graphical…

Source Link