Every day in the U.S., innovators and entrepreneurs embark on a journey to create new healthcare solutions that can improve lives, reduce costs, and help fix our broken healthcare system. Unfortunately, many abandon their efforts when they learn just how complex our healthcare system is and how much work—and money—it takes to reach meaningful scale and deployment. The effort it takes to establish a series of one-to-one connections to collaborate and transact with payers, providers, and other innovators is simply too immense and too costly.
How many clinical and administrative advancements could we have achieved by now were it not so difficult to bring innovative new solutions to market?
A decentralized network could change innovation in healthcare.
What is a decentralized network?
Typical networks are designed around a master server that manages all information and activities within a network. Decentralized networks, on the other hand, consist of multiple servers, each acting as a master server while still managing its own information and connecting with each other. This balances the load and distributes it across the entire system, which improves network resiliency and data redundancy. The organizations using the individual nodes can control how, to whom, and for what purpose data is exchanged. In this way, a decentralized network speeds the rate of data exchange while keeping data secure between all network participants.
What are the benefits of a decentralized network for innovators?
One of the most significant benefits of a decentralized network is that it enables innovators to use a platform with a common set of tools and services with which they can jointly collaborate, develop, and deploy new solutions without having to build individual connections with every stakeholder. Some of the benefits of a decentralized network includes:
- Once-to-many connectivity and deployment model.
- No need to build and maintain multiple APIs.
- Eliminates the need to build infrastructure to store data.
- Fewer resources are needed to manage and normalize data.
- Eliminates the need to buy the cloud, saving millions in startup costs.
- Apps can be distributed on the network, much like Apple or Google apps.
- Stakeholders get immediate access to new solutions over the network.
- Payers, providers, and innovators communicate directly without having to involve or share data with third parties.
Where do we go from here?
A decentralized network has the potential to become our industry’s first intentional architecture for healthcare and one capable of spurring innovation in ways never before seen. It’s a new direction, a new way forward. It’s not about streamlining existing processes. Instead, it’s about rethinking what healthcare could be.
The good news is that the network is live today. The Avaneer Health Network™ is a secure, permissioned, decentralized network and platform built on a data fabric infrastructure. Once a participant—payer, provider, or innovator—connects to the network, they never have to build a direct connection to any other participant. Data remains decentralized, and participants can control how and with whom they collaborate. Through a permissioned process, their data can be shared with anyone on the network whom they have approved to receive it. Once the connection is established, data can flow freely in real time, eliminating interoperability barriers and allowing true data fluidity.
How it works
Each participant receives an Avaneer SparkZone™, their dedicated, private, secure, cloud-hosted environment, and their “home base” on the Avaneer Network. Included in their SparkZone is a pre-packaged suite of utilities and services, providing everything they need to develop and deploy their network solutions and to subscribe and connect to other solutions.
Also, a part of the Avaneer Network is Avaneer Collaboration Services™, a person-centric identity service that connects to data discovery workflows that unlock access to permissioned data. The authorization review and exchange of data are trackable, auditable, and immutable. This all happens in real time, giving participants access to the data they need when they need it.
The Avaneer Network also provides a digital marketplace, the Avaneer Solution Exchange™, where participants can discover, offer, and source other solutions on the Avaneer Network. It’s a shared resource for the entire Avaneer Health Network community.
The potential for collaborative innovation over a decentralized network is limitless. If you’re interested in learning more about Avaneer Health, we invite you to join us on our journey to foster greater innovation while we reinvent the business of healthcare.