What You Should Know:
– Today, Polygon Networks, a number one blockchain and scaling answer, introduced a partnership with Tokenology and MSP Recovery to ship LifeChain – a brand new healthcare claims platform.
– LifeChain will leverage blockchain expertise to resolve healthcare’s greatest issues, together with fraud, inefficiency in funds and antiquated processes.
Tokenize Healthcare Claims On-Chain
LifeChain will likely be developed by MSP Recovery and Tokenology as a totally tokenized Medicare, Medicaid and business claims restoration system protected by biometric safety. The platform is designed to resolve vital issues the healthcare business faces right this moment, together with fraud, inefficiency in funds, and antiquated processes, to offer real-time decentralized providers that join sufferers to suppliers and their very own medical information like by no means earlier than.
LifeChain will likely be built-in with MSP Recovery’s client software, LifeWallet, a device designed to permit people entry to their medical historical past and life-saving sources, whereas offering inter-connectivity with suppliers, who additionally achieve necessary sources from the platform. LifeWallet is powered by MSP Recovery’s refined information analytics, to allow knowledgeable decision-making and improved affected person care to assist save lives on a HIPPA compliant, extremely safe platform.
LifeChain, the considered one of a form healthcare blockchain system MSP Recovery and Tokenology are constructing on Polygon, is maximized by the community‘s Polygon’s main efficiency as a carbon-neutral layer-2 Ethereum scaling powerhouse. The huge variety of every day medical claims being tokenized is predicted to surpass 50 million/day by 2024, requiring the form of scale, safety, and sustainability that solely Polygon can ship.
“As MSP Recovery has evolved, I have seen first-hand how the healthcare systems used by providers and insurers for data capturing are immensely flawed. As a result, we developed LifeWallet, a robust ecosystem, allowing for patient optimization of health records as well as important resources for providers, leading to more efficient registration and improved patient outcomes,“ says MSP Recovery Founder and CEO, John H. Ruiz. “Providers and payers are able to confirm proper treatment and payment for healthcare services while at the same time eliminating fraud through biometric and blockchain technology. We have partnered with Tokenology to integrate these systems while at the same time creating a crypto token called LifeCoin along with Polygon,” continues Ruiz, “These systems will allow LifeWallet to process claims, capitalizing from all claims it processes and not just those which were paid improperly.”