Healthcare industry

Blockchain technology can make it easier to validate a patient's HSA information, for example — helping speed along the process despite the traditional data validation hurdle they may face otherwise in this situation, writes Bruce Silcoff, CEO of Shyft Network.

To bridge the skill gap in this area, universities all over the world are working with private companies to provide blockchain-related training programs, according to Donika Kraeva, strategic communications manager at Dentacoin.

Blockchain technology has the potential to change the healthcare industry, placing the patient, at the center of the system by providing added security, privacy and interoperability to health data and payments, writes Donika Kraeva, strategic communications manager for Dentacoin.

Health care's a vertical that keeps coming up over and over as a laggard that sticks to paper, manual forms and other legacy payment methods, mostly because of the number of documents that would need to be digitized for even one part of the process to enter the modern age.

Blockchain provides greater data management tools and improved connections between insurance payments and medical care, says Jeremias Grenzebach, co-founder and core developer at Dentacoin Foundation.

The expansion of Visa Direct is designed to speed disbursements for health care patients who can receive an instant payment versus waiting several days to a week for payout.

If the company they plan to establish comes together and works — still a big if — it could give JPMorgan an edge in competing with other banks, lead to innovative payments and other products and create unforeseen issues.

OnPlan serves the education and health care industries, and under Flywire its services will be available for the first time outside the U.S.

When taken in the context of the complete invoice and payment cycle, manual payments not only have higher processing costs to the provider and supplier, but also result in delays between processing and making payments, writes Darci Guerrein, vice president of payment operations for GHX.

The Pittsburgh bank is counting on its acquisition of the Trout Group to help strengthen ties with clients in the life sciences, biotechnology, pharmaceutical and medical device sectors.