The administrative complexity of the healthcare system in the United States is shocking, resulting in a system that is too expensive, too onerous, and is actually impeding the delivery of better care and lower costs. Resources are being expended to administer payment and administration ecosystems built on legacy IT systems that add very little value to stakeholders. IT interoperability between stakeholders has improved but rarely leads to timely and meaningful information sharing across the healthcare ecosystem. This is primarily due to information being used by businesses for competitive advantages in the marketplace, as opposed to the best interest of the patient. The solution lies in an interoperable system, built using distributed ledger technology, which creates trust and immutable auditability of events, and allows patients to be the custodian of their own health data, manage the sharing of such data with stakeholders of their choice, and enables them to become the economic benefactors of sharing their information with stakeholders.This will streamline information sharing between stakeholders, remove intermediaries, reduce costs, and result in higher quality healthcare delivery and better patient outcomes.
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