Blockchain Credentialing…Is it the real deal?
For a healthcare provider to establish their qualifications and professional legitimacy, it takes an enormous amount of time and effort.
Not to mention the vast amount of money they have to spend ensure that their practice will merit reimbursement from both insurance companies and 3rd-party payers. With all these essential challenges and complications, the industry is now slowly adopting other methods to hasten the speed of credentialing and reduce the cost of processing. Since the start of the Covid-19, the clamor for faster options has been high to put their practice into action.
What is Blockchain Credentialing?
Imagine a one-stop-shop where you find everything you need, but make sure you will get the best deals and getting exactly the things that you need.
The convenience of saving time and accessibility to much-needed information makes a huge difference in getting health practitioners credentialled. This will benefit patients and institutions with both cost and timewise.
Block Chan Credentialing promotes a simplified system through a secured exchange of needed information. This involves a network of physician information and ledger technology that is believed to be very secure and can allow anyone in the network to access or view entries and information in real-time. Moreover, this technology allows a vast number of data on a multitude of servers, thus enabling data sharing to be more accessible and fool-proof, and manipulating the same will be extremely difficult, almost impossible as it will require access to all computers in the network and altogether make the changes. One of the major advantages is this technology’s ability to disallow changing and alteration of entered information. Once information is included, it cannot be removed. Each data information links and adds to another; thus, a blockchain is formed also known as public information ledger.