Signify Health Acquires PatientBlox to Accelerate Prospective Payment Models — Advances Transition to Value-Based Care
ATLANTA, Nov. 23, 2020 —
Unique application of PatientBlox’s proprietary blockchain technology will streamline provider administration, enhance payer predictability and security, and improve outcomes by aligning the care team around holistic needs of the patient.
“Real-time data sharing and value-based payment models are vital to improving care and containing cost,” said Rahul Sharma, chief executive officer of PatientBlox. “CuraBlox makes payment disbursement, reconciliation, and reporting of metrics easy to track and efficient, enabling the scaling of bundled payments programs.” Operational features of the solution include onboarding and payment of participating care team providers, episode-eligible patient identification, administration of incentive payments and/or withholds, quality reporting, and closure of episodes. “Bundles are a fast-growing payment model for health plans and CuraBlox is an ideal solution to support this growth,” added Sharma. “PatientBlox is attacking known complexities with its distributed ledger technology platform, the innovative workflow of the CuraBlox application, and its Smart Contract Library.”
Based in Atlanta, Georgia, PatientBlox is a sister company to HSBlox, Inc. Under the same ownership and management, the two companies are leading the way in the deployment of machine-learning and distributed ledger technology in healthcare and life sciences. PatientBlox’s proprietary software and patent-pending technology platform enable healthcare payer and provider collaboration for rapid scaling of prospective bundled payment programs. For more information, please visit http://www.hsblox.com
CuraBlox® BPA Solution
Prospective Bundled Payments Administration
Blockchain technology automates & scales prospective bundled payments. CuraBlox orchestrates payment issuance, claims management, and healthcare service reconciliation.
Traditional approaches are time-consuming and require the use of spreadsheets, manual reconciliations, phone calls, and a lack of timely information. CuraBlox offers integrated workflow, smart contract automation, and real-time data delivery—enabling transparency, coordination, and scaling. Episodes are authorized & initiated in real-time and care team notifications are broadcast on a permissioned basis.
The solution incorporates a “smart contract library” of episode definitions. Definitions can be viewed, edited, saved, and approved—providing ease of scaling for contract administration. Operational features of the solution include onboarding and payment of participating care team providers, episode-eligible patient identification, administration of incentive payments and/or withholds, outcome reporting, and closure of episodes. The smart contracts enforce business rules, enabling automation of processes, data sharing, and transaction processing.