Today
Providence St Joseph Health, one of the largest providers of healthcare in the U.S., announced it has acquired blockchain company Lumedic, a revenue cycle management platform. The blockchain system aims to deal with claims processing and enhance interoperability between healthcare providers and payers or insurers.
Seattle-based Lumedic was founded less than a year ago by Mike Nash who was previously Director of Global Partnerships with Luxoft which was recently acquired by DXC.technology (formerly HPE, CSC, EDS). The founding story was based on Nash’s personal experience of having a preventative mole removal which he expected to be covered by his insurance. It turned out it wasn’t. Hence he decided to address the complex process in which patients, healthcare providers and insurers share information about who pays what.
Providence St Joseph Health is a not-for-profit and has 119,000-plus caregivers/employees who serve in 51 hospitals and more than 800 clinics. The organization has a presence in Alaska, California, Montana, New Mexico, Oregon, Texas and Washington.
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