2019-08-06 Meeting notes

 15min

Pharma industry news

Marco

• Upcoming conference: Blockchain for Health Supply Chain (https://blockchain-health-supplychain.com/)

  • October 8-9, 2019

• Center for Supply Chain Studies (https://www.c4scs.org/)

  • Whitepapers

    • "The Value of Blockchain and its application to the DSCSA"

    • "The Drug Supply Chain Security Act and Blockchain"

• $49 million contract from the U.S. Department of Health and Human Services (HHS) to build AI and blockchain solutions  (https://www.fbo.gov/index?s=opportunity&mode=form&id=b605792bdfbc31ef4ba7443c4506abb5&tab=core&_cview=1)

  • EY an awardee of $49m U.S. Government blockchain health contract

    • EY announced it is one of the recipients of a $49million contract from the U.S. Department of Health and Human Services (HHS) to build AI and blockchain solutions

    • Use blockchain has the potential to automate conventionally manual processes

    • May include the recent health payments project the firm is undertaking with AI company Sensyne Health and blockchain company Guardtime

  • Enterprise blockchain firm Guardtime in U.S. government health deal

    • Guardtime’s role is to provide its enterprise blockchain capability

    • Guardtime’s HSX health platform has been deployed in production within the Estonian healthcare sector for the last several years,

    • EY contracted Guardtime to assist with an AI/blockchain project for results-based health payments

• EY, Sensyne Health, Guardtime partner for AI/blockchain results based health payments

  • link payments to the success of clinical treatments and patient satisfaction in so-called outcomes-based contracting

• Change Healthcare: enterprise blockchain with 30 million transactions per day

  • Company plays a crucial role in the U.S. healthcare sector where it acts as a clearinghouse for insurance claims with both the healthcare providers and insurers as clients

  • Owned by McKesson and Blackstone, McKesson owns 70%.

  • IPO valued at $12 Billion

  • US Healthcare 2017 costs the waste figure is nearly $1.2 trillion

  • Abuse often happens when medical providers use a similar but inaccurate billing code because they know the alternative code has a higher likelihood of getting paid out. Automation with smart contracts has the potential to weed out this activity.

  • Another benefit to insurers is patient engagement. The vision is to provide patients with a digital identity and a wallet-like experience powered by blockchain. So patients will be able to see all the payments and medical events creating a more positive interaction with the insurer.

  • It can take 7 to 14 days to get results from an eligibility check to find out if a procedure will be covered by insurance

  • Potential to reduce the response time to a matter of minutes for routine medical checks like mammograms by using Blockchain. Which means the hospital or clinic can collect payment at the point of care.