Infohub Blockchain Patient-Provider-Payor Transactions We’ve identified more than $125 million in...read more
Our Smart Contract-Blockchain
Pay System Forever Changes the
Provider-Patient-Payor Relationship by Offering Frictionless Transactions and Payment Integrity
Imagine the future of the Provider-Patient-Payor Relationship in US Healthcare with Global Care Pay:
Healthcare provider’s historical data have been ingested and stored for your Analytics technology architecture.
Key patient and care data points are now also accessible to the secure Pay system.
When a patient arrives at the provider the Pay system creates a Global Care smart contract using historic and current provider, patient, and procedure data. The smart contract is just like a contract in the real world only these are digital and require no human interaction.
Smart contracts digitally facilitate, verify, or enforce the performance of a provider-patient-payor contract. They are self-executing between parties (provider and payor) without the need for a third-party, stored on blockchain technology to provide credible frictionless transactions and payment integrity in real-time – meaning as the service or product is delivered. These contracts are trackable and irreversible.
The patient receives a scannable claim code on some medium: adhesive tag, document, or wristband, that travels with the patient through the procedure-process tied electronically to their smart contract.
Pay, using blockchain, provides secure authentication, authorization, and verification for the procedure with the payor in real time.
As the procedure progresses, a transaction code is scanned as care is rendered and the smart contract is updated.
As care is finalized by the provider, the claim is filed via secure blockchain with the payor’s API, the smart contract reviewed, the prior-authorized claim settled, and payment returned to the provider before the patient leaves the facility. The process is electronic, requires no human interaction, highly encrypted, and can be completed within microseconds.