Change Healthcare announced the establishment of a new cloud-based network infrastructure to promote more efficient, transparent, and secure administrative and financial transactions. As the first stage of a collaborative initiative working with stakeholders across the healthcare ecosystem, the company will deploy this network on Amazon Web Services (AWS). The network will allow the use of blockchain-enabled technologies to govern transactions throughout the claims continuum. As a result, payers and providers will benefit from an immutable, auditable record that can be accessed at any time, as well as reduced administrative costs, and near-real-time claim adjudication.
In January, Change Healthcare announced availability of its Intelligent Healthcare Network with blockchain, featuring claims management transparency. Through its blockchain, the Intelligent Healthcare Network can generate nearly 50 million milestone blockchain transactions per day at an average rate of 550 transactions per second. Working with AWS and other healthcare stakeholders, Change Healthcare will complement this network with a cloud-based offering using blockchain technologies, allowing payers and providers to accurately track, in real time, the status of claims submissions and remittances across the complete claim lifecycle.