(via ZEXPR) The average cost of a trip to the emergency room is $1,389, an increase of 176% in only ten years. This is one reason so many people are staying away from the hospital even when they are in need of treatment: they simply cannot afford to go. The problem is not necessarily because they don’t have insurance, either, since their policies might have high deductibles. The reality is that healthcare costs are too high for many people to afford them. Knowing this and wanting to provide a solution,
Claver Misago analyzed the industry and found a way to bring down those costs.
Medical 24/7 is his answer, and it is providing the relief that many patients need.
That relief is coming because of changes to how a patient’s bill is processed. In the healthcare industry, billings are done by medical billing and coding companies. The manual process of writing codes and submitting bills to payers (insurers) takes a long time and in many cases can result in errors in the bills as well as the bill being returned to senders, causing more delays in payment and more fees added to the charges. “This was one problem, among others, that I felt Medical 24/7 could do something about,” Claver says. “I knew that by correcting these issues, the cost of a patient’s bill would come down.”
To solve these issues and others, Medical 24/7 provides a one-of-a-kind blockchain platform that involves all stakeholders in any healthcare process, solves the issues of billings, and delivers better healthcare. It offers three services that are innovating how healthcare is done:
- Medical 24/7 is an access-control manager of health data and medical records, giving people the power to take control of their own health data and medical records.
- The company provides interoperability services within the health IT ecosystem.
- Medical 24/7 provides a unique billing system with the blockchain platform.
The benefits of the company’s services are considerable:
1. Secure: All payments through Medical 24/7 blockchain are more secure, faster, and low-cost through the use of encrypted distributed ledgers that provide trusted realtime
verification of transactions without the need for intermediaries.
2. Reliable: The technology solves manual issues occurring in billing processes as well as reduces overpriced testing. The blockchain technology enhances reliability, as full copies of the blockchain ledger are maintained by all active nodes. Thus, if one node goes offline, the ledger is still readily available to all other participants in the network. A blockchain lacks a single point of failure.
3. Automatic: Payers will automatically release funds when a trigger event occurs, such as a patient getting a prescription filled or laboratory tests being completed.
4. Instant Outcomes: Medical 24/7 serves as the universal access control manager of health data and medical records, allowing simultaneous and immediate data access across multiple independent health systems.
Medical 24/7’s work is growing, and its impact is being felt across the healthcare industry. It is recognised by international communities as one of the top 50 healthcare companies based on five parameters: overall reach, industry impact, spirit of innovation, future readiness, and market demand. Claver himself has been recognized as one of the top 100 healthcare leaders in the world. Both awards will be accepted in June 2021.
Claver is optimistic about the future of healthcare. “With advancements in technology, it looks promising. In addition, the COVID-19 pandemic has been a wakeup call for the world. We are seeing changes in regulations that have been obstacles for the healthcare industry. I think between those changes and the innovations of Medical 24/7, we’re going to see a lot of amazing improvements in the healthcare industry that will ultimately make the lives of countless people better.”
Claver has a lot of experience in entrepreneurship through his work with Medical 24/7, and he is always willing to pass along what he has learned. “Success is the happy ending of failures if you keep on pushing forward. That’s why Medical 24/7 is here today. I struggled a lot but never gave up. I also tell new entrepreneurs that if they can think of something, do it. Get up and take action! I saw a huge problem in the healthcare industry and created Medical 24/7 to solve it.”
That solution didn’t come easily, of course. “No matter how good your idea might be, you’ll still hit bumps along the way,” Claver says. “But you have to persevere, and the result is your company and its impact. Never give up.”
Claver believes Medical 24/7 will accomplish its mission. “We will be successful because instead of walking away from the problem of expensive, inaccessible healthcare, we decided to confront it with a solution,” he says. “Medical 24/7 is the beginning of making a trip to the doctor or hospital affordable for absolutely everyone.”