NASHVILLE, Tenn.--(BUSINESS WIRE)--Hashed Health, a leading healthcare blockchain innovation company focused on building the new digital infrastructure for healthcare, today announced the launch of the Professional Credentials Exchange. The Exchange intends to provide the market with a solution to address the effort, cost, redundancy, and complexity of obtaining and verifying practitioner identity and credentialing information.
Leveraging blockchain technology, the Professional Credentials Exchange will allow counterparties to define and exchange identity and credentials assets using the data, rules, and validation checks applicable to their specific organizational requirements. Further, blockchain technology assures the provenance, accuracy, and immutability of information within the exchange—substantially reducing the time, cost, and effort healthcare organizations spend performing the redundant collection and verification of this information. The Exchange represents new digital infrastructure which integrates with a wide range of workflow tools and data sources that currently exist in the market.
“This transformative approach solves existing challenges facing provider credentialing,” said John Bass, Hashed Health CEO. “Over the past year, we have received feedback from the industry indicating that improving the accuracy and accessibility of credentialing information is an ideal opportunity for blockchain technology to address a costly, complex, industry-wide problem.”
Credentialing is a mandated process that intends to ensure the clinical competency of a healthcare practitioner. All organizations that provide, compensate, or support healthcare delivery must credential practitioners prior to their employment or contracting. The process often takes several months to complete and is largely impeded by a lack of reliable, verified information available to those performing this work. Delays in physician credentialing within hospitals alone result in forfeitures of net revenue averaging an estimated $7,500 per day. The Exchange will allow practitioners and those parties requiring credentials information to access and acquire this data with greater efficiency and confidence in its sourcing and accuracy.
To learn more about Hashed Health and its new Professional Credentials Exchange visit www.ProCredEx.com or visit the Hashed Health booths (9900 51,52,53) at the HIMSS 2018 Conference March 5th-8th in Las Vegas, Nevada.
About Hashed Health
Hashed Health is a healthcare innovation company leading the design, development and productive use of blockchain and distributed ledger technologies. Hashed Health partners with public and private sector clients to collaboratively develop solutions and networks that solve health delivery challenges. Hashed Health’s mission is to create new shared value systems for individuals and communities of health through a variety of enterprise and consumer-focused projects. More information can be found at http://www.hashedhealth.com/ or by emailing join@hashedhealth.com. To join the global healthcare blockchain conversation, go to https://chat.hashedhealth.com.
About Professional Credentials Exchange (ProCredEx)
The Professional Credentials Exchange provides digital infrastructure for the credentialing of professionals in the healthcare field. Using blockchain technology, organizations use ProCredEx to streamline the process of offering and consuming practitioner identity data elements. For more information, visit www.procredex.com or email Anthony Begando at abegando@hashedhealth.com.
