Blockchain RX! Solum Global Treatment for Healthcare payments

Written by Riley Kamener

One of the weeks that take weeks of treatment to the bills disputes that leave both service providers and patients are frustrated, the American health care system is famous for its complexity.

But what if the entire process could be simplified, secured and implemented in the actual time? This is the question that takes West Palm Beach World Solom He answers the Blockchain payment system.

Founder Kirk Saint Jones was in the encryption space for more than a decade, and watching all of its rapid growth and its most challenging moments. Now, he sees an opportunity to apply Blockchain technology to health care – a space that strongly needs innovation.

“We go from the Internet to Blockchain,” he said. Miami update. “Solum is at the forefront of making it happen.”

Solum Global in its essence aims to accelerate and simplify health care payments by placing the entire process on the chain. Traditionally, when the doctor submits a claim, it is going through multiple steps – electronic health records, insurance providers and payment processors – before reaching a solution. This process may take weeks or even months.

But using Blockchain and smart contracts, Solum allows the actual time to claim, which greatly reduces delay. “Doctors can document in the e -health portfolio what they do and conform to this information directly with the motivation,” St. Jones explained. “This means that payments can be treated at the point of service.”

The key to this efficiency is the Blockchain, which guarantees transparency and safety in transactions. Medical billing errors, frequent papers, and conflicts about insurance claims can be reduced when the process is automatic through smart contracts.

In addition, symbolic healthcare policies provide more accuracy in the identical services to cover insurance. “By bringing policies motivated to a smart contract through the distinctive symbol, it ensures the validity of the claims immediately,” said St. Jones.

Of course, you should address any conversation about Blockchain in health care compliance. The industry is deeply organized, with strict rules such as HIPAA that protects the patient’s privacy. Solum merges Blockchain encryption guarantees to ensure safe data.

“What is being done for you and who must be protected in the same way you will be in Web2,” said St. Jones. “The patient, the doctor and the motivation interact through public keys, but the special keys remain safe, and ensure access to access.”

The CEO of Solum, Geary Stonesifer, believes that the company’s approach will first get an attraction between healthcare providers, who will appreciate efficiency gains in managing the revenue cycle. “We are offering the fast -wheel drive option at the present time,” he said. “Once the service providers see interest, the next step is to involve insurance companies, which will eventually realize the costs they can achieve through smart contracts.”

Stoneesiff and St Johns are betting that service providers will continue to search for more efficient payment solutions. “We are not naive,” said Stanceter. “But being the first engine with a strong value proposal puts us in a great position to get the market share.” He even hinted that the public company can take in the next few years to accelerate growth.

Why does this company start in South Florida? “Not only energy and vitality-it’s the fact that we are near people who influence the health care policy,” said Stanceter, with a highlight of the Porpc Policy bubble emerging around the Winter White House Mar Lago. “With the government pays close attention to the lack of efficiency of health care, we have a real opportunity to be part of the conversation.”

St. Jones sees this just a beginning. “Solom means the foundation,” he said. “We are based mainly that allows multiple use, especially for Stablecoins, to flourish. This is just the beginning of what is possible.”

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