Blockchain
Signify Health Acquires PatientBlox to Accelerate Prospective Episode of Care Payment Models, Advance Transition to Value-based Care
Signify Health, a leading provider of technology-enabled healthcare solutions designed to keep people healthy and happy at home, has acquired PatientBlox, a technology company with deep expertise in applying distributed ledger technology in healthcare. The acquisition accelerates Signify’s prospective provider payment capabilities for episodes of care, supporting the company’s commitment to advance value-based care through novel payment and risk arrangements.
“We are excited to enhance our leading value-based payment platform with this first-of-its-kind prospective capability and the greater predictability and accountability that come with it,” said Signify CEO Kyle Armbrester. “We are already powering the nation’s most innovative payment programs, and this capability opens up significant opportunities to create and support new programs and market entrants.”
Signify will integrate the PatientBlox technology into its already robust and scalable value-based care platform, which supports $6B in health care spend annually associated with the federal government’s bundled payment program, BPCI-A, and episodes of care payment programs by health plans and employers. The proprietary PatientBlox technology is built-for-purpose and highly-secure, enabling functionality that facilitates contract and payment administration under a prospective payment model. Under its expanded platform, Signify will offer payers and providers a diverse array of payment options to meet them where they are in their value-based care journey.
“We combined our team’s healthcare, fintech, and supply chain experience with machine-learning and Distributed Ledger Technology (DLT) to build the PatientBlox platform for administration and management of prospective bundles,” said PatientBlox Co-Founder and CEO Rahul Sharma. “Our DLT based platform enables collaboration between Healthcare Payers and Providers and provides real time data synchronization across entities thus enabling rapid scaling of prospective bundled payment programs. We are excited to work with Kyle and the Signify team and are proud to have the novel technology developed by the PatientBlox team be part of Signify’s leading platform, which is already driving real change in the healthcare industry.”
The addition of blockchain technology enables a further shift away from traditional fee-for-service models. By making payments to providers at the start of the episode, providers are incentivized to drive care redesign because there is shared measurement and accountability at every step of the process, which results in improved care coordination, outcomes and cost savings.
An episode of care is a health care event — a condition or a treatment — that is marked by a sequence of interactions between a patient and providers. The blockchain can capture each of those interactions and the patient’s care milestones that trigger payments. The PatientBlox platform is designed to manage these transactions without relying on fee-for-service claims.
Guggenheim Partners served as exclusive advisor to PatientBlox in the transaction.
Blockchain
DPcryptoX Global Innovation Summit to Be Held in Singapore in January 2025, Focusing on the Future of Digital Currency
Blockchain
Japan RegTech Business and Investment Report 2024: Market to Grow by 19.1% to Reach $210.5 Million this Year – Forecast to 2029
Japanese RegTech Market
Blockchain
Bybit Advocates Blockchain Ecosystem Expansion at Solana Breakpoint
-
Blockchain Press Releases4 days ago
Intergiro And FinchTrade Partner To Bridge Fiat And Crypto Ecosystems With Embedded Banking And Instant Liquidity For Web 3.0
-
Blockchain Press Releases5 days ago
Artprice by Artmarket’s 2024 Contemporary Art Market Report, coinciding with Frieze London and Art Basel Paris, thoroughly explores a market that has grown 1,800% since 2000, confirming that art is a safe haven in times of major crises
-
Blockchain Press Releases5 days ago
Aleph Acquires Controlling Equity Interest in Localpayment and Targets $1.4 Trillion Digital Payments Market
-
Blockchain Press Releases5 days ago
Tiger Brokers’ Yang Xu Shares Insights on Bitcoin ETFs Bridging the Gap Between Traditional Finance and Digital Assets
-
Blockchain5 days ago
Wirex Pay Announces Early Access to Its Revolutionary Crypto Payment App
-
Blockchain4 days ago
Digital Payments in Healthcare Industry Forecast to Cross $21 Billion in Revenue by 2029 – PayPal, Square, Stripe, and Adyen Dominate the Competitive Landscape
-
Blockchain Press Releases5 days ago
Bybit P2P Spins the Wheel of Fortune to Unleash Rewards
-
Blockchain Press Releases4 days ago
HTX Ventures Reveals how AI and Web3 Will Revolutionize DeFi and Beyond