Fierce Healthcare February 11, 2019
Washington-based Providence St. Joseph Health acquired a blockchain-enabled RCM platform and plans to form partnerships with other stakeholders like payer organizations.
Providence St. Joseph Health has acquired Seattle-based Lumedic, a revenue cycle management company based on blockchain technology, with the aim of streamlining data sharing and improving claims processing.
The Renton, Washington-based health system announced at the 2019 Healthcare Information Management Systems Society (HIMSS) Annual Conference & Exhibition that it plans to leverage the blockchain platform to reduce inefficiencies in revenue cycle management. Terms of the deal were not disclosed.
Traditional health system and hospital revenue cycle processes frequently rely on physical correspondence and fax machines for sending medical records, legacy systems for data storage, and employees who spend hours...
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