What you should know:
– Today, Polygon Networks, a leading blockchain and scaling solution, announced a partnership with Tokenology and MSP Recovery to provide LifeChain – a new healthcare claims platform.
– LifeChain will leverage blockchain technology to solve healthcare’s biggest problems, including fraud, payment inefficiencies and outdated processes.
Tokenize On-Chain Healthcare Claims
LifeChain will be developed by MSP Recovery and Tokenology as a fully tokenized and biometric-protected Medicare, Medicaid, and commercial claims recovery system. The platform is designed to address important issues facing the healthcare industry today, including fraud, payment inefficiencies and outdated processes, to deliver real-time, decentralized services that connect patients providers and their own medical data like never before.
LifeChain will be integrated with MSP Recovery’s consumer application, LifeWallet, a tool designed to give individuals access to their medical history and vital resources, while providing inter-connectivity with providers, who also get important resources of the platform. LifeWallet is powered by MSP Recovery’s sophisticated data analytics, to enable informed decision-making and improved patient care to help save lives on a highly secure HIPPA-compliant platform.
LifeChain, the one-of-a-kind healthcare blockchain system that MSP Recovery and Tokenology builds on Polygon, is powered by Polygon’s industry-leading performance of the network as a Layer 2 Ethereum scaling powerhouse carbon neutral. The massive number of tokenized daily medical claims is expected to surpass 50 million/day by 2024, requiring the kind of scale, security, and sustainability that only Polygon can deliver.
“As MSP Recovery has evolved, I have seen how extremely flawed the healthcare systems used by providers and insurers for data capture are. As a result, we have developed LifeWallet, a robust ecosystem, enabling the optimization of patient health records as well as significant provider resources, leading to more efficient registration and better patient outcomes,” said John H. Ruiz, Founder and CEO of MSP Recovery.” Providers and payers are able to confirm proper treatment and payment for health services while eliminating fraud through biometrics and blockchain technology. We partnered with Tokenology to integrate these systems while creating a crypto token called LifeCoin with Polygon,” Ruiz continues, “These systems will enable LifeWallet to process claims, capitalizing on all the claims it processes and not just those who were poorly paid. »