How will a decentralized network truly benefit healthcare? By saving $20 billion, or 48 percent of existing annual spend, by transitioning to fully electronic transactions.
How will this work? In this feature for Becker’s Hospital Review, CEO Stuart Hanson discusses how Avaneer Health is building a data fluid network for healthcare by drawing upon the lessons learned from other industries.
What BIG thing is Avaneer Health building with its $50 million SEED round backed by not-just-investors-but-also-partners CVS Health, Aetna, Anthem, Cleveland Clinic, HCSC, PNC Bank, Sentara Healthcare and IBM Watson Health?”
What is Avaneer Health? What are we not? CEO Stuart Hanson joins Jessica DaMassa of WTF Health for an in-depth discussion on building “the one health data exchange to rule them all.”
Avaneer Health is set to tackle the bane of healthcare: interoperability.
Leveraging blockchain, Fast Healthcare Interoperability Resources (FHIR), and other technologies for streamlined connectivity and collaboration, Avaneer Health is named as one of Acceleration Economy’s five trailblazers that are shaping a new technological paradigm in healthcare.
PNC is one of seven healthcare-related organizations committing $50 million of initial funding to Avaneer Health. PNC recognizes the opportunity Avaneer Health provides to reimagine the business of healthcare by solving data-flow inefficiencies, helping to save healthcare tens of billions of dollars annually.
Enabling every party associated with a patient’s care timely access to accurate data can significantly reduce care delays, medical errors, duplicate testing and so much more —including cost of care. For the revenue cycle, this can mean that payers, providers and collaborators, such as PNC, will have real-time data to significantly decrease fraudulent claims, claim rejections and delayed reimbursements.
Read how PNC is also actively collaborating in the design and development of business applications that will help Avaneer Health advance the seamless, secure exchange of information and payments between organizations participating in Avaneer Health’s blockchain network.
Lack of interoperability has been the bane of healthcare for decades. That’s not to say there hasn’t been progress. But when will providers and payers achieve the same interoperability, transparency, and access to real-time data to help reduce administrative burdens, lower costs, and improve outcomes?
Healthcare Innovation explores how Avaneer Health is poised to solve healthcare’s interoperability challenges and “the ability to make this long-sought-after dream a reality.”
