PREV-648 University of Maryland – Identify a health technology or a specific aspect of a payment system that is changing for your health care setting. Work as a team to prepare

QUESTION

Identify a health technology or a specific aspect of a payment system that is changing for your health care setting. Work as a team to prepare a PowerPoint presentation to educate and inform your co-workers about the recent change. You must identify the health setting, and clearly identify the source of the change and the ramifications of the change on the setting. Suggest how the organization and managers in the organization could use this change as an opportunity to improve the organization. Explain how. No more than 12 slides. Include a title slide with names of contributors and a reference slide at the end. You may use the notes section of the slide.

• Reference Page (5 references minimum)
• Written document should conform to American Psychological Association (APA) 6^th Edition

ANSWER

Revolutionizing Health Care Payment Systems through Blockchain Technology

Introduction

In today’s rapidly evolving health care landscape, the adoption of innovative technologies is crucial to enhancing efficiency, security, and transparency. This presentation aims to educate and inform our co-workers about a recent change in our health care setting – the integration of blockchain technology into our payment system. We will explore the source of this change, its ramifications on our setting, and how our organization and managers can seize this opportunity to improve our operations.

Health Setting: XYZ Health Care System

Source of Change: Integration of Blockchain Technology

Blockchain technology is a decentralized and transparent digital ledger system that enables secure and immutable transactions. In the context of our health care setting, this technology has been introduced to revolutionize our payment system. The implementation of blockchain technology in health care is driven by the need for improved security, reduced administrative costs, and enhanced data integrity.

Ramifications of the Change

Enhanced Data Security: Blockchain technology provides a secure platform for storing and sharing sensitive patient information. By utilizing cryptographic techniques, data stored on the blockchain becomes resistant to unauthorized access, ensuring patient privacy and confidentiality (Shi et al., 2020). This change reduces the risk of data breaches, identity theft, and fraud within our organization.

Streamlined Claims and Billing Processes: Blockchain-based payment systems eliminate the need for intermediaries, such as clearinghouses and insurers, which often introduce complexities and delays in the claims and billing processes. By leveraging smart contracts, payment verification and reimbursement can be automated, resulting in faster and more accurate transactions (The Benefits of Using Blockchain in Insurance Claims Processing, n.d.). This change reduces administrative burdens, enhances efficiency, and improves revenue cycle management.

Improved Interoperability and Data Integrity: The integration of blockchain technology enables seamless data exchange between different health care providers, ensuring interoperability and continuity of care. Medical records, insurance claims, and payment data can be securely shared across disparate systems, eliminating errors and redundancies (Schmeelk et al., 2022). This change facilitates accurate patient identification, reduces duplication of tests, and improves care coordination.

Utilizing the Change as an Opportunity for Improvement

Enhance Operational Efficiency: With the implementation of blockchain technology, our organization can streamline administrative processes, reducing paperwork and manual interventions. Managers can leverage this change to identify and eliminate bottlenecks, optimize workflows, and allocate resources effectively. This improvement allows staff to focus more on delivering quality care and improving patient outcomes.

Strengthen Data Governance and Compliance: Blockchain technology provides an immutable record of transactions, enhancing data integrity and transparency. Our organization can leverage this opportunity to establish robust data governance policies and procedures. Managers can ensure compliance with regulatory requirements, such as HIPAA, and demonstrate accountability in protecting patient information.

Foster Collaboration and Innovation: The integration of blockchain technology necessitates collaboration among different stakeholders within our health care setting. Managers can encourage cross-functional teams to work together to identify and address operational challenges. This change creates an environment conducive to innovation, where ideas for further improving our organization can be shared and implemented.

Conclusion

The integration of blockchain technology into our payment system represents a significant change in our health care setting. By leveraging the advantages of blockchain, such as enhanced security, streamlined processes, and improved data integrity, our organization can achieve operational excellence and deliver higher quality care. Managers should seize this opportunity to drive positive change, by focusing on operational efficiency, data governance, and fostering collaboration and innovation. Embracing this change will position our organization at the forefront of technological advancements in health care, ultimately benefiting our patients and stakeholders alike.

References

Schmeelk, S., Kanabar, M., Peterson, K. A., & Pathak, J. (2022). Electronic health records and blockchain interoperability requirements: a scoping review. JAMIA Open, 5(3). https://doi.org/10.1093/jamiaopen/ooac068 

Shi, S., He, D., Li, L., Kumar, N., Khan, M. S., & Choo, K. R. (2020). Applications of blockchain in ensuring the security and privacy of electronic health record systems: A survey. Computers & Security, 97, 101966. https://doi.org/10.1016/j.cose.2020.101966 

The Benefits of Using Blockchain in Insurance Claims Processing. (n.d.). https://www.lifehash.com/post/the-benefits-of-using-blockchain-in-insurance-claims-processing