WHAT CAN HEALTHCARE LEARN FROM FINANCE?

The healthcare industry is under tremendous pressure to contain costs. Intriguingly, a key piece to solve the rising cost puzzle may come from a different industry through a technology that came to prominence to secure Bitcoin transactions: Blockchain. The Finance industry was also faced with the challenge of being one of the least trusted industries. The Finance industry has leveraged Blockchain technology to improve integrity, customer engagement, products and services, purpose and operations.

What challenges did financial services tackle to improve trust? How did the finance industry deal with sensitive information and what are the security innovations embedded in the platforms? How did they establish benchmarks and comparative data to change consumer experience? How did they meet simultaneous demands for standardization and personalization?

The presentation will provide specific solutions and key practices that can be learned to improve the patient’s relationship to medical providers by increasing transparency, enabling more secure transactions, building permanent and immutable medical records, eliminating the need for third party intermediaries, retroactive authentication and conflict resolution. The full solution to solving the rising healthcare costs will need to incorporate public policy, private innovation and a confluence of complimentary advancements.

Kent Lefner, Partner, Infosys Consulting
Sandeep Savla, Senior Principal, Infosys Consulting