New SaaS Technology Introduces Patient-Centered Self-Sovereign Identity That Allows Decentralization for De-Identified Data With Secure Data Storage and Exchange With Optimal Security, Integrity, Transparency and Interoperability
BEVERLY HILLS, Calif., April 9, 2024 (Newswire.com)
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Apothēka Systems Inc., a provider of blockchain and AI to facilitate digital transformation through EHR integrations, today announced an agreement with athenahealth, Inc. through the company’s Marketplace program. As part of the athenahealth® Marketplace, this newly integrated Apothēka Digital DLT (Distributed Ledger Technology) Passport is now available to athenahealth’s growing network of healthcare providers to add self-sovereign patient IDs, providing patients with more control over their own care management and which piece of information to share within athenahealth’s care network.
- Transparency: Provides transparent and immutable patients’ record of transactions, which can help ensure that all parties involved in patient care have access to the same information, reducing medical errors, disputes and fraud.
- Data Security: Blockchain’s decentralized nature makes it more secure than traditional centralized systems, as there is no single point of failure for hackers to exploit. This can help protect sensitive health data from cybersecurity attacks that cost health systems upward of $50 million-plus per incident.
- Smart Contracts: They can automate various processes in hospitals, such as creating unique patient IDs that allow patients validation across multiple systems, consent management, insurance eligibility checks, claims processing and payments, based on predefined rules and conditions. This can streamline operations and reduce administrative costs from 30%-60%.
- Fraud Detection: By analyzing data stored on the permissioned-based blockchain, health systems can use advanced analytics and AI algorithms to detect patterns indicative of fraudulent activities, considering yearly healthcare fraud claims amount to $380 billion-plus yearly.
- Interoperability: Blockchain technology can facilitate interoperability between siloed or different systems and stakeholders in the healthcare ecosystem, allowing for seamless sharing of information while maintaining data privacy and security.
athenahealth is a leading provider of network-enabled software and services for medical groups and health systems nationwide. Its electronic health records, revenue cycle management, and patient engagement tools allow anytime, anywhere access to drive better financial outcomes for practices and enable providers to deliver better quality care. athenahealth’s vision is to create a thriving ecosystem that delivers accessible, high-quality, and sustainable healthcare for all. As a Marketplace partner, Apothēka joins a community of innovative, like-minded healthcare professionals working to bring best-in-class solutions to the athenahealth provider base.
To learn more about Apothēka’s new integrated application, please visit Apothēka’s product listing page on the Marketplace.
About Apothēka
Apothēka is a SaaS company utilizing transformative power of decentralized and artificial intelligence technologies that it integrates seamlessly with clinical and business systems by creating self-sovereign identities, decentralizing personal and health data elements on a secure blockchain and AI ecosystems to facilitate use cases like unique personal IDs, data security, integrity and interoperability.
About athenahealth Marketplace
Learn more at www.athenahealth.com/solutions/marketplace-program.
Contact Information:
Benjamin Wang
Operations Manager
844-777-4455
