Technology-enabled healthcare solutions provider Signify Health has made a strategic acquisition of PatientBlox, which it plans to help advance its prospective episode of care payment models and value-based care transition.
With PatientBlox’s expertise in applying distributed ledger technology to healthcare, the tech company will integrate the blockchain tech into Signify’s value-based care platform, supporting $6 billion in healthcare annual spending.
The proprietary tech is expected to streamline provider administration and improve payer predictability, security, and outcomes by aligning the care team around the holistic needs of the patient, according to a statement. The expanded platform allows payers and providers multiple payment options for value-based care.
“We are already powering the nation’s most innovative payment programs, and this capability opens up significant opportunities to create and support new programs and market entrants,” Signify CEO Kyle Armbrester said in a statement.
The enhanced platform will advance Signify’s value-based care through its novel payment system and risk arrangements.
PatientBlox’s tech takes Signify further away from the traditional fee-for-service models, says the company, and incentivizes providers to drive care redesign through shared measurement and accountability.
PatientBlox co-founder and CEO Rahul Sharma said in a statement, “We are excited to work with Kyle and the Signify team and are proud to have the novel technology developed by the PatientBlox team be part of Signify’s leading platform, which is already driving real change in the healthcare industry.”
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