Payers have a growing interest in blockchain, but providers have cost concerns

The hype around blockchain — even in healthcare — is steadily increasing.

A new survey from Black Book examined how the industry is approaching, investing in and deploying the technology.

The Q3 survey included 88 payers and 276 provider technology executives, managers and IT specialists.

The results make it clear that the healthcare field sees the value in blockchain. Ninety-three percent of managed care organization participants and 70 percent of hospital respondents said the distributed ledger technology shows promise for solving interoperability problems. Additionally, 90 percent of IT specialists and medical group managers said it can improve connectivity and patient record sharing issues.

To some, the concept of blockchain is dauntingly complex. However, Black Book found that most survey participants grasp its capabilities. Twenty-nine percent of hospital leaders and 82 percent of health insurance executives have a general understanding of the technology.
“Executive blockchain education has shifted from Blockchain 101 to selecting the appropriate healthcare blockchain technology protocols,” Doug Brown, Black Book managing partner, said in a news release.

Due to such interest and knowledge, 76 percent of payers in the survey said they’re either considering deploying or currently in the process of implementing blockchain solutions. Ninety-eight percent of payer respondents with plans of more than 500,000 members are currently considering deploying it, while 14 percent of them are involved in trial deployments right now.

Additionally, 70 percent of payer respondents of all sizes anticipate blockchain being integrated into their systems by the first quarter of 2019.

Read more medcitynews.com

Image Credit:  Getty

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