Promises Frictionless Blockchain Healthcare Pay System to Reimburse Providers in Real-Time as Care Is Delivered
Global Care Administrators announced their deep learning health intelligence platform will go to market under the name Global Care Analytics. According to company president, Scott Guilfoyle, the platform gives healthcare management the most powerful tool to date for key management insights within claims-and-cost and clinical data, and solid predictive analytics from local and/or global data via the desktop.
Speed, precision, deep knowledge correlation and connections, and agility through predictive analytics can radically change a health organization’s landscape for the better.
Guilfoyle, the former CTO of PayPal, and CIO of LendingTree, Bank of America Card Services, and GE’s Aircraft Engine Services, Aircraft Engines eBusiness, and Plastics Americas, believes the company’s deep analytics platform with its hyper-ingestion engine that can take in one million data sets a minute, gives healthcare executives access to billions of data points for better organizational management, delivery of care, and population health management.
“Senior executives of health systems, hospitals, and medical groups can execute precisely targeted, complex queries of massive data sets with real-time or near-real-time responses by dragging and dropping preset queries into the engine,” says Guilfoyle. “We designed it to be simple-to-use and not require IT or outside data scientists.”
According to CEO, Kevin Sullivan, “There is enormous value in data trapped within a healthcare organization. This is the intelligence engine I wish I had in my former senior operations positions. When executive management has desktop power to identify gaps in care or delivery of care services, outcome metrics, and the most complete real-time picture of the health of their patient populations, they make better decisions. Speed, precision, deep knowledge correlation and connections, and agility through predictive analytics can radically change a health organization’s landscape for the better.”
Guilfoyle says the analytics technology will be followed by a frictionless transaction system using smart contracts-blockchain to authenticate the patient, authorize the procedure, file the claim with the payor, and reimburse the provider in real-time as care is delivered. Imagine providers being paid before the patient leaves the facility. “It’s a holy grail for revenue.” He says Global Care Pay technology could help eliminate some of the $147bn – $510bn of waste in administrative complexities and manual transactions. “Global Care Pay is our next big step and one we’re really excited to bring to market in the near future.”
Sullivan says the two-year-old, privately-held company is busy raising capital, and plans to build out the pay system on the foundational success of the analytics platform. “We’re way out front on smart contract-blockchain pay, and our work with clients on analytics and data monetization gives us the kind of real-world environment we need to fine-tune Global Care Pay for a soft release in the near future.” He adds, “We really are a new way of thinking about healthcare.”