HSBlox, a technology company that is bringing innovation and transparent economics to the healthcare ecosystem, today announced the launch of its Advanced Referral Manager (ARM) solution, which utilizes blockchain technology to automate the referral administration process, resulting in decreased network leakage, time and money savings for payers and providers, and enhanced patient care.
Current market challenges reveal high costs and manual processes associated with referral administration, related to:
– Patient data sharing
– Exchange of follow up notes
– Faxes, unscheduled referrals, phone calls and hold times
– Coordination between referring and rendering physicians, as well as patients
– Network leakage
– Patient safety issues
ARM introduces a connectivity platform that enables all participants to communicate, securely share data, and receive real-time referral status updates and notifications. By providing unprecedented transparency, the solution empowers healthcare stakeholders to decrease or eliminate duplicate lab work, missed appointments, network leakage and delays in patient care. As a result, not only does ARM help ensure that healthcare organizations capture the lost revenue associated with these missed appointments and network leakage, but it also allows them to proactively address patient safety concerns.
ARM’s automated processes substantially optimize labor and staff resources due to its underlying blockchain/private distributed ledger technology (DLT). The advanced technology enables smart contract configuration, automating the referral rules associated with a payer plan and streamlining the secure data sharing between providers, payers and patients. The platform also creates a robust patient profile that tracks historical referrals. With a timeline view, status can be monitored, empowering participants to view the details of referrals created. Additionally, DLT smart contracts trigger permissioned delivery of follow-up notes and documentation back to the referring physicians, keeping all care team members in the loop—including the patient.