Blockchain has serious potential in healthcare to reduce administrative costs, eliminate fraud and combat waste, Solve.Care CEO Pradeep Goel told the Coin Rivet.
"Although still in its infancy, blockchain technology has the potential to redefine the healthcare industry and enable a new, more effective, accessible and affordable system. Solve.Care aims to reduce healthcare administration costs by providing a peer-to-peer payment platform which cuts out the middleman," Mr. Goel said.
While blockchain has potential, the technology has to overcome mounting challenges. Mr. Goel says one of the biggest challenges is how quickly technology is evolving.
"Everything moves at lightening speed and what might be true today may not be true in just a month or two," the CEO said.
Additionally, he said "regulatory uncertainty" has caused barriers for blockchain expansion.
Solve.Care has made waves in the healthcare industry to introduce blockchain. The company partnered with Lyft to transport patients to health centers. Solve.Care is also working with a Phoenix ACO to install its blockchain-based payment system for 5,500 providers.
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