NetDirector Teams with DocPanel to Provide Rapid Integration and Data Consistency for Radiology Reads and Reports

From PRNewswire:

Tampa, FL – December 13, 2018 – NetDirector, a cloud-based data exchange, and integration platform, has expanded their healthcare data-trading ecosystem by partnering with DocPanel, a digital community of highly-skilled subspecialty radiologists who provide radiology interpretations for both healthcare providers and patients.

With a shared vision founded on providing exceptional patient care and leveraging technology to increase interoperability in healthcare organizations, DocPanel and NetDirector have moved forward with their partnership to increase the ease of deployment and level of integration available to both DocPanel, and the healthcare providers that they engage with.

DocPanel’s network of over 300 board-certified, highly distinguished radiologists across 41 states and academic institutions provide unparalleled specialization. NetDirector’s cloud-based integration-platform-as-a-service (iPaaS) model will make specialty care more rapidly accessible and easier to leverage for the providers who are directly servicing the patients by handling the complex integrations and variety of systems that are ubiquitous in the world of modern-day medical imaging data.

“DocPanel was built to make it possible for imaging providers to receive the best possible radiology interpretations available, no matter where they are,” states Cate Lloyd, COO of DocPanel. “By partnering with NetDirector, together we will make that world-class service easier to access and more cost-effective and interoperable for both the initial provider and the participating radiologist, ensuring sustainability and availability for all participants,” she continued.

DocPanel is initially utilizing NetDirector’s HealthData Exchange to receive digital orders from customers and return diagnostic results back to its ecosystem of Imaging Centers. NetDirector allows them to fast-track onboarding of new trading partners and significantly reduce IT resource overhead to maintain a multitude of data interfaces. They are also looking to potentially expand services by utilizing NetDirector’s new DICOM image converter to automate the inclusion of PDFs to DICOM directly into the radiologist’s reading protocols and eliminate on-premise licensed software.

Additionally, NetDirector’s new Health Data Monitor (HDM) makes the whole integration environment easier to monitor and maintain compliance than ever before. Network participants are notified of delays or connectivity concerns in real time through the HDM dashboard and can respond as needed or engage with their dedicated integration analyst who are domain experts in healthcare workflow and integration technologies.

“Partnering with DocPanel is very exciting – they are at the forefront of their industry, much like we are,” said Harry Beisswenger, CEO of NetDirector. “Being able to provide a strong and secure integration solution, while simultaneously reducing costs, ensures that the amazing services provided by DocPanel’s team of radiologists can be accessed in a simple and straight-forward way.”

About NetDirector:

NetDirector provides a secure cloud-based data and document exchange solution for the healthcare and mortgage banking industries to deliver seamless data integration between parties. NetDirector bridges gaps created by disparate systems & technologies by allowing companies at any location to share data & documents securely over a single internet connection with any other member of the ecosystem. Our approach allows trading partners to collaborate and exchange data in a seamless, bi-directional, real-time manner. With security and longevity as a focus, NetDirector is a certified HIPAA Compliant company, a 6-year member of the prominent Inc. 5000, and currently processes more than 10 million transactions per month.

About DocPanel

DocPanel is the world’s first subspecialty radiologist marketplace bringing together the largest network of fellowship-trained radiologists across every major subspecialty into one single online platform. DocPanel’s subspecialty radiologists offer final reads and educational consultations to imaging centers and radiology groups, and second opinions to clients and patients across the United States and the world. The company offers a new flexible and customizable model of subspecialty radiology to help overcome challenges related to errors, high costs, staff shortages and more.

Cost Control Essential to Managing Healthcare IT

C-level executives at Boston’s Brigham and Women’s Hospital realized two years ago that the medical center needed to shed at least $50 million from its $2.6 billion annual spending budget.

“It was very clear we had to become a much leaner, more efficient organization,” said Ron Walls, the hospital’s chief operating officer.

The Harvard-affiliated facility’s financial crunch followed comparable actions taken by the Mayo Clinic, which was striving toward $1 billion in cost reductions over 10 years, and the Cleveland Clinic, which had pared expenses by $800 million over four years.

The IT Impact

Austerity initiatives tend to affect all aspects of hospital operations from staffing to supplies, and ultimately reach into IT planning and implementation. Consequently, healthcare CIOs should pursue digital transformation opportunities that deliver improved care without bumping up costs, according to IT research and advisory firm Gartner.

The path forward recommended by Gartner places priority in the following areas:

  • Collaborating with the chief financial officer and chief medical officer when designing IT solutions aimed at improving monetary and clinical outcomes. A pilot project addressing a specific use case can provide proof-of-concept for reigning in costs while promoting system adoption. If successful, the project can be scaled up across the organization.
  • Evaluating the organization’s ability to create and manage digital business architectures. Again, feedback from operational managers and clinical leaders should inform strategies needed to reach a state of real-time readiness.
  • Establishing key performance indicators to measure digital progress. Optimization efforts should be focused on delivering positive health outcomes for patients.
  • Assessing whether existing IT investments are being optimized. For example, is the electronic health record (EHR) system providing anticipated value to the organization? Gartner’s 2018 CIO Agenda Survey found that 80 percent of respondents felt their EHR had not yet delivered the intended return on investment, and 50 percent reported only moderate or minor returns.

A separate analysis of leading organizations from the College of Healthcare Information Management Executives (CHIME) reveals a number of shortfalls in the use of hospitals’ foundational technologies. To name a few: almost all physicians have access to the EHR system, but only half can access EHR resources using mobile applications; similarly, nearly all physicians can contribute to a Continuity of Care Document, but just 60 percent can consume discrete data from a home health agency or skilled nursing facility.

Similar imbalances exist in regard to what CHIME refers to as “transformational technologies” at organizations considered at the forefront of using IT to improve the delivery of care. Significantly, 76 percent can perform retroactive analysis for care improvement and cost reduction; however, only 43 percent can manage bundled payments or do real-time identification and tracking of value-based care conditions. Additionally, less than 60 percent use clinical and billing data as well as health information exchanges to identify gaps in care.

Overall, integration, interoperability, security and disaster recovery capabilities, along with technologies that support population health management, value-based care, patient engagement and telehealth “need to be in place for an organization to leverage tools to effectively transform healthcare,” the CHIME report stated.

NetDirector’s cloud-based document and data-exchange platform unifies clinical and billing data to help healthcare organizations drive down costs and improve patient outcomes. As such, HealthData Exchange can be an essential component of any IT cost-control or efficiency initiative by moving data among disparate systems among hospitals, labs, pharmacies, imaging centers, and government agencies while adhering to HIPAA security and HL7 compliance standards.

 

To learn more about NetDirector’s HealthData Exchange platform, please contact us or request a free demo.

Telehealth on the Rise Across Delivery and Payment Components

Momentum in key areas will drive telehealth to new heights in the coming years. Academic investigation confirms telehealth’s effectiveness, according to a review of 145 articles conducted earlier this year by the Agency for Healthcare Research and Quality. The study finds evidence that recognizes the advantages of telehealth, particularly for remote intensive care and specialty care consultations.

Aside from improving access to care and delivering clinical benefits, the technology is gaining additional traction in the form or emerging payment models and regulatory support, MobiHealthNews reports.

Doctors are onboard, too. “There’s no question that providers are embracing virtual care more than ever before,” says Jason Gorevic, CEO of telehealth trailblazer Teladoc.

“However, this is a case of ‘and’ not ‘or.’ This is additive because health plan, employer and consumer adoption are rapidly increasing,” Gorevic points out.

Developing Business Models

The most successful telemedicine providers “are those who shift their mindset from reimbursement to revenue,” observes the healthcare practice of law firm Foley and Lardner. Current examples include:

  • Academic medical centers with a surplus of specialist physicians contracting with rural hospitals or other sites of care to supply on-demand medical expertise through professional service agreements such as monthly retainers (as opposed to external fee-for-service reimbursement).
  • Telemedicine companies contracting with accountable care organizations (ACOs) to implement virtual care as a means for ACOs to realize quality and cost improvements, and thereby qualify for Medicare incentive payments.
  • Provider networks offering telemedicine-based care to employer workforces via varying compensation approaches, such as per-encounter fees, capitated per employee per month payments or shared-savings models.

In any of these pathways, there’s potential for cost savings through telehealth, as providers gain the ability to monitor patients remotely, identify symptoms before diseases get worse, and prevent expensive subsequent treatments.

Nonetheless, providers need to be proactive with their telehealth strategy, reports Health Data Management. That means reviewing and updating compliance programs, as well as billing, coding and documentation procedures and policies.

Integration in a Burgeoning Market

Venture capital funding for telehealth-focused companies nearly tripled between 2013 and 2016, according to an analysis conducted by Rock Health.

Meanwhile, the push is on to position telehealth as a low-cost alternative to hospital or physician office visits for non-emergency issues. An employer survey from Willis Towers Watson shows that offerings of telehealth services to employees rose from 64 percent of employers in 2016 to a projected 92 percent in 2018.

“Today, we focus on urgent care, but over time we will be able to focus on other things … [such as the] parts of patient care that are routine and can—and should—be done online,” comments Lyle Berkowitz, MD, the chief medical officer at MDLive. He predicts further emphasis on telehealth within routine care environments, helping set the stage for greater provider efficiency.

NetDirector agrees and also views telehealth as part of automated billing and payment processes. NetDirector can integrate telehealth options to EMR, billing or imaging systems, allowing telehealth to no longer be a standalone service, but a true end-to-end solution.

To find out more about NetDirector’s cloud-based HealthData Exchange platform, please contact us or request a free demo.

New VPN Network Monitoring Enhancements and Alerts

Monitoring that’s a cut above!

NetDirector is excited to announce an advanced VPN networking monitoring service that provides alerts and deep insight to help healthcare clients quickly identify and troubleshoot VPN issues and to ensure systems are running smoothly. This service provides:

Continuous Monitoring – NetDirector’s advanced VPN monitoring solution runs 24/7/365 gathering critical data about transactional and network performance that provides a quick insight into current & potential network and transactional anomalies.

The Complete Picture – Proactive alerts and insights are available when transactions are not being received or acknowledged by a targeted facility. Our VPN monitoring can help pinpoint where the issues are occurring, from NetDirector to the facility, including network layer.

Choose your Alert Delivery – Alerts can be delivered via email, text, or both.

Please contact your integration analyst if you’re interested!

Apple Leads Big-Name Tech Charge Focusing on Health Data

Apple’s $921 billion market valuation, perched atop the Fortune 500, reflects investors’ belief that the company’s relentless growth should continue in coming years. And an iPhone-based health record product, a test version of which Apple released in late January, could be a pivotal part of the expected progression.

“We view the future as consumers owning their own health data,” Apple COO Jeff Williams told CNBC.

The new Health Records section, accessible from the iPhone’s Health app, lets users stream in encrypted data (e.g., allergies, conditions, immunizations, lab results, medications, procedures and vital signs) from leading EHR systems. The idea empowers consumers to share passcode-protected data on-demand with their primary care doctor or hospital personnel.

As of March, nearly 40 U.S. hospitals had signed on to participate in Apple’s Health Records project.

Industry Reaction

David Harlow, who heads a healthcare law and consulting practice, pointed out the long-term promise inherent in Apple’s initiative: allowing more people than ever before to access their own health data more easily. If the pilot succeeds, he added, healthcare systems of all sizes across the country would be able to connect their respective EHRs to the Apple conduit.

Indeed, among a dozen Health Records beta sites interviewed by research firm KLAS Enterprises, all recognized the product’s potential to facilitate patient-provider interaction and help consumers improve care self-management. Patient record portability should be possible soon, according to 59 percent of beta testers, with associated benefits (giving patients access to their data, using the data to engage patients, and integrating data into patient care) expected within six months.

At the same time, however, Harlow cautioned that Apple faces several short-term challenges:

  1. Health Records is currently limited to personal health record data, not the full scope of EHR data.
  2. iPhone users account for only 15 percent of the overall smartphone market (although physician iPhone usage hovers around 75 percent).
  3. The pilot’s relatively small size limits demonstration of data integration from multiple provider organizations.
  4. Data flows only in one direction — from provider to patient.

Harlow concluded that it’s not yet possible to predict whether Health Records will become ubiquitous, although consumer advocates like Apple’s approach to handling end-user data. (It stays on the phone and Apple won’t be mining it for other purposes.)

Nonetheless, a practical consideration — some patients have to pay their provider more than $500 for a single medical records request, while others encounter an annual subscription fee, according to a recent Government Accountability Office report — could disrupt emerging data-sharing models. In this environment, Apple has gotten a head start on allowing patients to own and control their health data, even across disparate systems.

Integration in the Healthcare Ecosystem

NetDirector views these developments in a positive light as they relate to integration advances across healthcare. If Health Records and similar projects take flight, cloud-based platforms such as NetDirector’s HealthData Exchange will assist with streamlined adoption and implementation. The net result will be the ability for healthcare stakeholders to quickly and accurately put in place patient-centric services.

For more information on HealthData Exchange, please contact us or request a free demo.

On the Horizon: What Healthcare Technology Needs in 2018

The year ahead will usher in an imposing financial squeeze for hospitals across the country. Moody’s Investor Service expects the healthcare sector’s operating cash flow to contract by 2 to 4 percent through 2018 as facilities grapple with lower insurance reimbursements and higher expense growth. Accordingly, hospitals and health systems must leverage information technology (IT) to optimize operations, sustain strategic initiatives and drive disruptive innovations.

Leading organizations will move beyond using IT to automate formerly manual processes. Instead, they’ll build IT-powered business models to align with predictive/ proactive care delivery while empowering patients to take charge of their own health.

As in recent years, healthcare executives remain rightfully concerned about enhancing cybersecurity, countering potential attacks and preparing for response by moving more of their IT infrastructure to the cloud.

They also see competitive opportunities to scale up IT in areas such as consumer-facing technology, data analytics, and virtual care. As such, integration will be key to merging patient-generated data with health records, exploring genomic testing as part of a move toward personalized medicine, and providing reimbursable care or monitoring for remote patients.

Paths Forward

Many industry observers point to cloud-based systems when explaining attempts to “future-proof” technology investments. “[Cloud computing] can offer a dramatically lower total cost of ownership than traditional on-premises solutions by eliminating maintenance fees and upgrade costs, and by requiring much less effort to install and operate,” says Mark LaRow, CEO of patient-matching technology vendor Verato.

At the same time, healthcare organizations stand to benefit from enhancing existing IT platforms, especially where revenue-driving processes and workflows overlap. In particular, providers are looking for ways to facilitate operations through automated insurance eligibility processes, mobile/ online payment applications, and cost estimation tools.

Additionally, advanced hospitals and health systems recognize that increasingly accepted value-based payment models require ongoing patient engagement measures. Advisory firm PricewaterhouseCoopers (PwC) notes that providers need to obtain a comprehensive view of patient interactions. “An ability to derive meaningful information from linking disparate data about patients becomes a differentiator for an organization in a competitive market,” comments Winjie Miao, chief experience officer at Texas Health Resources.

Meanwhile, 88 percent of insurers plan investments in technology to improve the healthcare experience for their members. With providers and payers moving toward shared goals in data aggregation and analysis, “2018 could be the year [that] health sectors rally around the patient experience,” according to PwC.

A Platform Built for Integration

NetDirector’s subscription-model integration services fall squarely in line with healthcare organizations’ IT needs in the coming year. From a broad perspective, NetDirector’s HealthData Exchange normalizes data to standard HL7 or other formats, enabling systems to seamlessly share clinical and billing data. While complementing existing IT investments, the platform streamlines clinical workflow and communications while reducing administrative costs.

NetDirector also remains adaptive to changes in the healthcare ecosystem, such as those anticipated for 2018. New integrations can be configured based on evolving customer needs — and on standards and protocols defined by healthcare’s governing bodies.

For more information, please contact us or request a free demo.

How 2017 Became the Year of Integration

When all’s said and done, 2017 may be best remembered as the year big business put an indelible stamp on healthcare. Sure, we’ve had similar maneuvers in the past from the likes of Apple, Google and Microsoft, but each of those initiatives struggled with consumer connection, especially when it came to individuals surrendering their personal health information.

What’s different this time? Drugstore chain CVS Health’s proposed (subject to regulatory approval) buyout of insurance giant Aetna — at $69 billion, the largest health insurance deal in history— could transform pharmacy storefronts into community health clinics, giving patients streamlined access to primary care, medications and insurance services in unified hubs.

Some industry experts acknowledge potential systemic efficiencies that would accompany this type of vertical integration. However, they also caution that consolidation could trigger insurance network restrictions and a move toward “transactional care,” in which patients see doctors for isolated consultation without any established history or context of treatment.

Other observers see the purchase more as a preemptive move by CVS to fend off retail kingpin Amazon’s interest in pharmaceutical distribution (particularly for expensive and difficult-to-obtain specialty drugs). Amazon has acquired pharmacy licenses in 12 states and has kicked off discussions with generic drugmakers, according to media reports.

Whatever the true motivation — and it very well could be a combination of all factors outlined above — healthcare models are undeniably trending toward large-scale integration as 2017 draws to a close. And that’s sure to bring opportunities and challenges to stakeholders, including IT companies, along the way.

Integration in Various Forms

As 2017 began, advisory firms counseled hospital executives to integrate clinical delivery with financial sustainability in preparation for almost certain payment cuts. One health system followed such a course, slashing annual operating costs by $12 million in just six months by focusing solely on reducing excess lengths of stay. That type of integration works around mutual biases: (1) clinicians worrying that cost-cutting would jeopardize care quality and (2) financial teams perceiving doctors’ resistance to data analysis that would measure costs.

Meanwhile, along healthcare’s leading edge, IT initiatives pushed forward throughout the year. “I believe an urgent priority for our healthcare system is to move from the traditional one-to-one model to a more efficient, time- and place-independent care delivery system,” commented Joseph Kvedar, MD, vice president of connected health at Partners Healthcare.

Kvedar’s remarks accompanied the Personal Connected Health Alliance’s release of new design guidelines for sharing patient-generated health data with providers via HL7 Fast Healthcare Interoperability Resources (FHIR) specifications. The guidelines support data integration into electronic health records (EHRs) from 26 vital signs sensors and 40 health/ medical/ fitness devices for remote monitoring of chronic diseases, as well as health and fitness measures.

In related ways, we saw positive disruption in data exchange between payers and providers, setting the stage for real-time alerts that would help prescribing physicians prevent drug-drug interactions or other potentially harmful outcomes.

Additionally, EHR vendors did their part to integrate cloud-based versions of traditional systems, bringing cost-effective processes and simplified technology contracting to small hospitals and physician practices.

As we witnessed, a lot can happen over the course of a year. Continued progress in integration will depend on straightforward but flexible options for sharing data and documents across the healthcare ecosystem. NetDirector offers those exact capabilities in its HealthData Exchange platform so that care facilities don’t have to worry about managing — and staying ahead of — the ever-changing technology curve.

For more information, please contact us or request a free demo.

Healthcare, Ransomware, and Security Breaches

Ransomware, a treacherous malware exploit that encrypts victims’ data or prevents access to their devices, netted cybercriminals an estimated $1 billion in 2016.

Data-related extortion attacks on businesses rose three-fold during the first nine months of last year, equating to one every 40 seconds. Two-thirds of those hit by ransomware lost all or part of their corporate data and one-quarter spent weeks trying to restore access, according to Kaspersky Labs, a data security firm.

Perhaps even more alarming is a predicted shift from chaotic and sporadic ransomware incidents to steadier assaults in higher volumes. “There is no such thing as a low-risk sector anymore,” Kaspersky’s research warned.

Healthcare, with 16 percent of organizations having been hit by ransomware, ranks in the top 10 among targeted industries.

High stakes for healthcare

Hospitals and health systems, as HIPAA covered entities, must adopt safeguards to ensure the confidentiality, integrity and availability of electronic protected health information (ePHI). The Department of Health and Human Services’ Office for Civil Rights (OCR), which enforces HIPAA, issued guidance in 2016 presuming a breach in the event of a ransomware attack involving ePHI. In other words, it’s up to the provider organization to prove that a breach did not occur by demonstrating low probability that ePHI was not compromised.

Nonetheless, many organizations remain non-compliant or take a stance of “calculated non-compliance.” That means they deem any potential fine to be cheaper than the reporting costs or technical resources needed to investigate incidents to OCR’s satisfaction, according to James Scott, senior fellow at the Institute for Critical Infrastructure Technology.

All the same, providers should be concerned whether ePHI is properly encrypted and adequately protected against compromise by ransomware. And from a system-wide perspective, additional safeguards should include proper use of passwords, removal of outdated software and unauthorized apps, adherence to regular backup procedures, and educating users not to open attachments or click links from unknown senders. Additionally, operating systems, browsers and antivirus programs should be updated to the latest version on all devices.

Also worth noting: Security shortfalls may be present in system integrations written in-house or by contracted developers.

In any event, “negligence gives cyber criminals the incentive to continue to launch ransomware attacks,” notes security website CSO.

And — as if on cue — a newly discovered form of ransomware may be released this month, reports TechRepublic. The malware, known as RedBoot, not only encrypts files but also permanently repartitions hard drives, rendering data unrecoverable. The alert advises businesses to back up workstations to some form of network or cloud storage, refresh all antivirus software definitions, and train users to avoid phishing scams.

A big ask

Hospitals have their hands full providing the best care possible for patients, around the clock, every day of the week. In that light, they shouldn’t be expected to shoulder the entire load of locking down data against an ever-expanding array of intruders.

Networking companies such as NetDirector have the expertise and capabilities needed to properly secure and integrate healthcare data. All of our certifications and processes (e.g., HIPAA and SOC2) are maintained above industry standards in a fully redundant, cloud-based platform. Healthcare clients put their trust in NetDirector to securely handle more than 10 million data and document transactions per month.

Although ransomware and related intrusions are real concerns, NetDirector stands ready to consult and assist in hardening defenses across the healthcare ecosystem.

For more information, please contact us or request a free demo.

NetDirector Enters Comprehensive Agreement to Partner with My Constant Care, LLC for Integration Services

TAMPA, Fla.Sept. 28, 2017 /PRNewswire/ — NetDirector, a cloud-based data exchange and integration platform, has expanded their Integration-Platform-as-a-Service (iPaaS) offerings once again. A strong partnership has been forged with My Constant Care, LLC to provide them with a cloud based integration suite for the already cloud-centric company.

My Constant Care (MCC) provides a unified cloud-based platform for integration and delivery of preventive services such as Annual Wellness Visits, Chronic Care Management, Advanced Care Planning, and Preventative Screenings. Their turnkey delivery model provides patients with the full spectrum of preventive services to enhance overall care delivery without disrupting day-to-day operations of the practice. My Constant Care focuses on maximizing value to both providers and patients. They do this with expert coordination of preventive care options available today while strategically shaping these services to meet performance requirements expected of their future providers in the future. They offer a no-financial-risk solution to the physicians, providing the staff, software, and technology to perform their services.

Utilizing the cloud for integration was a clear next step to elevate the services offered by MCC. NetDirector’s One-to-Many style integration allows MCC to connect to NetDirector once and exchange data seamlessly with EHR systems, billing platforms, and more as the hub expands. Now, MCC’s services can integrate with existing provider platforms as well as future additions to a provider’s suite of technology solutions without relying on internal resources to bridge the gap between solutions.

My Constant Care helps primary care physicians provide a level of service to their Medicare population previously not achievable by small practices,” says Kellie Privette, the Director of Sales and Business Development at MCC. Privette added that “NetDirector’s integration expertise and technology allows MCC to seamless transfer patient data into their customer’s EHR and billing systems, without double entry of a substantial amount of information.”

This integration also increases a provider’s compliance, allowing even small practices to provide the quality and timeliness of service of a larger provider while maintaining and exceeding compliance standards for the healthcare technology industry. By eliminating data entry steps and automating the exchange of patient information securely, the integration allows for providers utilizing My Constant Care to focus more on the patients, and less on the technology behind the scenes.

“We’re very enthusiastic about our partnership with My Constant Care,” said Harry Beisswenger, CEO of NetDirector. “Their services fill a gap in the healthcare industry, and we’re looking forward to helping them achieve their goals of seamless preventive care for everyone.”

Company Bio:

NetDirector provides a secure cloud-based data and document exchange solution for the healthcare and mortgage banking industries to deliver seamless data integration between parties. NetDirector bridges gaps created by disparate systems & technologies by allowing companies at any location to share data & documents securely over a single internet connection with any other member of the ecosystem. Our approach allows trading partners to collaborate and exchange data in a seamless, bi-directional, real-time manner. With security and longevity as a focus, NetDirector is a certified HIPAA Compliant and SOC II Type 2 certified company, a 6-year member of the prominent Inc. 5000, and currently processes more than 8 million transactions per month.

Blockchain Technology: An Emerging Force in Healthcare Integration

Back in March, at the conclusion of the HIMSS17 annual conference, we pointed to blockchain as one of the most noteworthy recent developments in the healthcare IT space. We emphasized that blockchain technology, which uses a distributed database and cryptography to securely manage records and create a permanent record of online transactions, deserves recognition for its potential to increase IT and organizational efficiencies — highly valued attributes in light of Healthcare’s perpetually constrained resources.

An IBM Institute for Business Value study explains that data captured on blockchains can be shared in real time across a scalable group of individuals and institutions. “Every event or transaction is time-stamped and becomes part of a long chain, or permanent record, that can’t be tampered with after the fact,” according to the study report, which finds 16 percent of healthcare organizations ready to commercialize blockchain at scale in 2017.

Where will things go from here?

Room to grow

In practical terms, blockchain could be used in areas such as population health to aggregate patient and financial data that formerly would have been available only from separate sources such as health information exchanges and claims databases.

Further, blockchain’s ability to enable secure and irrevocable data exchange systems would provide “seamless access to historic and real-time data, while eliminating the burden and cost of data reconciliation,” explains Reenita Das, senior vice president of transformational healthcare at research firm Frost & Sullivan.

Micah Winkelspecht, founder and CEO of blockchain start-up Gem, characterizes blockchain as a tool for interoperability — in essence, an open-source protocol layer incorporating rules to which software can be written. “It’s basically like a language that all [participating] companies agree to speak in order to be able to interoperate with each other,” he adds. Unlike the current EHR-centric healthcare system, blockchain would be the “underlying fabric” for the entire continuum of care, “a decentralized, distributed, global data repository that’s basically shared and controlled by everyone,” he envisions.

Cross-industry philosophy

Related, in the mortgage industry, a similar foundational approach has experts believing in blockchain as an enabling technology empowering lenders to overcome current challenges in electronic processes.

Blockchain would be applied as a thin layer atop an existing document management system to effectively “freeze” a copy of the signed documentation, thereby proving it has never been altered and that the original document resides in its original location. Focus would shift from e-signature tools to blockchain as the core technology structure for compliance and document management — without requiring a completely reworked electronic process.

NetDirector recognizes ongoing and changing security needs in industries such as healthcare and mortgage banking. Companies on the front lines shouldn’t have to rewrite existing integrations or pay multiple vendors in their respective networks to operationalize individual system connections.

Within the healthcare ecosystem, NetDirector’s HealthData Exchange builds on a standard data model to map to HL7 or other data formats and achieve EHR interoperability while removing the bottlenecks of traditional interfacing. Such integrative technology holds the promise of making future security updates and landscape changes far more manageable.

For more information, please contact us or request a free demo.