This interview is part of our new Blockchain In Healthcare series, where we interview the world's leading thought leaders on the front lines of the intersections between blockchain and healthcare.
In this interview we speak with Jared S. Taylor, CEO and co-founder of BlocHealth, to understand how his company is using blockchain to transform the healthcare business, and what the future of the industry holds.
1. What’s the story behind BlocHealth? Why and how did you begin?
JT: BlocHealth is building the credential sharing network for healthcare professionals. We help healthcare professionals submit information once by leveraging blockchain technology and our smart applications, saving them (and organizations) valuable time, money and eliminating the multiple duplicated efforts they have had to deal with in the past.
BlocHealth originally started out as an innovative healthcare staffing firm. I previously worked for a healthcare staffing and consulting company as a Business Development Executive. After some time, I decided to start my own firm after looking at the growing shortages of healthcare professionals in the U.S. and the lack of innovation within healthcare staffing to counter those shortages. We later pivoted after a few of our healthcare professional candidates left assignments before they began due to slow state licensing and hospital credentialing. It was at this point I recognized a massive opportunity in the healthcare onboarding space. After doing our due diligence, we found it to be crazy how credentialing could take 120+ days at some facilities and licensing could take 6-9 months in some states as well. Once we pivoted, we brought on our technical co-founder and CTO, Adrienne Bolger. Our platform hits upon four major areas within healthcare:
Cost Savings: We make the process of getting completed healthcare professional/applicant data and applications your medical staff department needs much easier. Allowing a medical staff department to spend less time collecting data and more time investigating.
Provider Experience: Our mobile/desktop friendly applications provide flexibility to your healthcare professionals/applicants. Leveraging our smart auto-fill PDF filler, applicants are able to apply for privileges more efficiently, thus allowing them to be granted privileges more quickly.
Access to Care: By using our blockchain technology, we can speed up the process of getting healthcare professionals to work more quickly, which will allow them to start treating patients much earlier than in the past.
Quality of Care: Ultimately, we will be able to vet healthcare professionals more thoroughly because once information is on the blockchain it cannot be altered or deleted. This reduces the risk of fraud.
2. Please describe your use case and how BlocHealth uses blockchain:
JT: In licensing and credentialing, there are many pieces of static information that do not change. Both processes require similar information and documents in order to complete them. The same information must be checked over and over again. Every time a healthcare professional applies for a license or to get credentialed at a facility, there is lots of paperwork that must be filled out. We use the public, Ethereum blockchain to transform healthcare by allowing healthcare professionals to request key licenses and credentialing documents to be uploaded from the primary source. The healthcare professional submits a request to the primary source, the primary source then uploads the document on their behalf. The record and timestamp of the transaction is what is uploaded onto the blockchain to provide proof that the transaction took place.
3. Could you share a specific customer/user that benefits from what you offer? What has your service done for them?
JT: We are in the middle of launching our initial platform at this current time. There are several users that will benefit from our platform: healthcare professionals, organizations, payers and state boards. More updates coming soon.
4. What other blockchain use cases in healthcare are you excited about?
JT: I am really excited about blockchain to improve medical records and to stop counterfeit drugs. Blockchain just makes sense in these two areas (along with our own). Similar to provider data, it is crazy how patient data is not more accessible (part of that is due to HIPPA). Also, having a more efficient drug supply chain is important as well. The level of transparency that comes with blockchain is something that is much needed in healthcare. If you are interested in learning more about healthcare blockchain use cases, I recommend you listen to the Health Unchained podcast.
5. Where will BlocHealth be in 5 years?
JT: In 5 years, BlocHealth will be a well-known company in the healthcare industry. We will be best known for our efficient and innovative data repository and credentialing verification organization services. At this point in time, blockchain will no longer be thought of as an emerging technology solution, but rather a well-established solution that provides much transparency and efficiency within healthcare and beyond!