Change Healthcare has acquired the intellectual property and other key assets of PokitDok, a platform-as-a-service healthcare enterprise.
The deal extends the blockchain technology and APIs of PokitDok to the Change Healthcare Intelligent Healthcare Network for payers, providers and independent software vendors, equipping them with new capabilities in digital health, telemedicine and other new and disruptive care models.
"This acquisition is about practical innovation to create a more connected, transparent and efficient healthcare system where patients control their own information," Kris Joshi, executive vice president and president of Network Solutions at Change Healthcare, said in a statement. "As the leader in blockchain for healthcare and with one of the most extensive open API marketplaces available, with PokitDok we are bringing together synergistic assets and technical expertise for delivering additional capabilities to our customers and accelerated value to digital health markets."
The aim of the agreement is to better support value-based, patient-centric healthcare, an objective that Change Healthcare has been trying to accomplish through blockchain technology since last year when it became the first healthcare IT company to deploy the technology at enterprise scale to address the administrative claims management transparency process. It also recently teamed up with TIBCO to develop the first “smart contract” system for healthcare. https://www.dotmed.com/news/story/41046 https://www.dotmed.com/news/story/45119
By utilizing PokitDok’s blockchain use cases and DokChain technology, members of the network are expected to be able to perform healthcare transactions and processes with enhanced data integrity, auditability and efficiency.
The technology will be available to the network’s approximately 2,200 government and commercial payor connections, as well as its 5,500 hospitals; 900,000 physicians; and 33,000 pharmacies. Its deployment is expected to help Change Healthcare build on the progress of its last entire fiscal year, which ended on March 31, 2018 with nearly 14 billion healthcare transactions completed and $1 trillion accumulated in annual healthcare expenditures.
"PokitDok's capabilities accelerate the launch of Change Healthcare's API and Services Marketplace, which is designed to address the needs of organizations ranging from innovative healthcare startups to established healthcare entities and large-scale IT companies," Gautam Shah, vice president of APIs and marketplaces at Change Healthcare, said in a statement. "The combination of assets, technical talent, and market presence will enable our customers and partners with the tools, community, and expertise to leverage data and technology to create innovative solutions for all parts of the healthcare ecosystem: payers, providers, and consumers."
No financial details were disclosed.