Revenue Cycle Management Pilot from Gem
Gem has announced its core product, blockchain platform GemOS, will have its first pilot project – Revenue Cycle Management – in medical claims processing, at the Distributed: Health conference in Nashville, TN.
GemOS is a modular, agnostic platform for building and deploying distributed applications that connects proprietary technology to shared networks, as is outlined in its white paper. The platform enables custom logic development for companies developing blockchain applications for health, finance, insurance and identity. Gem hopes to bring transparency, immutability and security to healthcare using distributed ledger technology.
The Revenue Cycle Management pilot runs on GemOS and is supported by the Gem Health Network (GHN) which was announced in April. The GHN is a federated blockchain designed to support specific use case development using GemOS instances. Among the first participants is a global commercial bank with other companies seeking to achieve cross-industry data and process integrity. This provides healthcare companies with proof that blockchain technology can be applied to real problems by showing a single business use case and scaling it through a network of stakeholders.
Micah Winkelspecht, founder and CEO of Gem, commented; “The vast amount of data that flows in and out of a simple medical claim creates impact beyond that workflow. Our partners want to use this data to solve real problems that affect the industry today, and we believe the solution requires network integrity that is independent of a central administrator. We are using GemOS to create a pilot network around a specific use case that can be scaled into a full ecosystem. That is when blockchain-enabled business logic can begin to flow between market partners and unlock value.”
Gem foresees use case driven development process becoming standard for scoping and scaling the next wave of blockchain applications for enterprise, consortia, working groups, and consulting companies alike.