Capital One introduces Blockchain and analytics for healthcare
Credit card and retail banking company Capital One revealed a handful of partnerships with several digital technology providers for its Treasury Management services — including a blockchain-based claims management solution for healthcare clients and another that uses new analytics processes to estimate healthcare patient costs.
“We're seeing unprecedented transformation in the payments space as rapid advances in digital technology are reimagining the client experience,” Capital One executive vice president Patrick Moore said in a statement. “We see the new network models and data analytics capabilities as an opportunity to reinvent treasury management to better meet the needs of clients, not only increasing payment efficiency but also generating actionable information about their business.”
To that end, Capital One also partnered with healthcare specialists Gem, PokitDok, as well as analytics companies Viewpost and ClearGraph.
The GemOS is an emerging platform that enables custom logic development for companies developing scalable blockchain applications for health. Capital One’s Revenue Cycle Management pilot runs on GemOS and is supported by the Gem Health Network, a federated blockchain designed to support specific use case development using GemOS instances.
Capital One will utilize analytics developed along with healthcare e-commerce API provider Pokitdok that estimate the out-of-pocket expenses for which a patient will be responsible.
The partnership with Viewpost enables Capital One to us a secure B2B network for invoicing, payments and real-time cash management, while the deal with ClearGraph involves the company’s Intellix Mobile app, a tool for natural language search.
Capital One said it expects these new offerings to launch in early 2017.