Appley Health To Use Blockchain Technology To Cut Healthcare Costs
Appley Health, A Next-Generation Technology Platform Cuts Real Cost From Healthcare
Appley Health, a next-generation technology platform has announced the launch of a patent-pending platform that uses cutting edge technology to eliminate multiple layers of intermediaries in the healthcare system and drastically reduces cost for self-funded employer health plans and their beneficiaries.
Appley Health wondered why healthcare spending is so high and decided to do something about it. The Appley Health platform creates an ecosystem where employers, employees and providers all benefit from lower costs, payment accuracy, complete transparency, direct contracting, maximum security & reliability, higher satisfaction, provider choice and speedier payments.
The High Cost Healthcare By The Numbers
Approximately one-third of the $3.3 trillion dollars spent on healthcare annually in the United States is paid by self-funded employers, making this the largest category of healthcare payer.
Using blockchain technology and smart contract automation, the Appley Health solution is estimated to reduce costs for employers by 30%, translating into a national reduction in healthcare spending of hundreds of billions of dollars annually. Appley Health is designed to bring healthcare back to its core roots, the direct interaction between the patient and the physician.
Founder Dr. Jerry Beinhauer, a serial entrepreneur and veteran physician with over fifteen years' experience in medicine, business and technology, said gone are the days of large intermediaries driving up costs, reducing patient choice and squeezing provider margins.
With Appley Health, employers and employees benefit from the lower cost of direct provider contracting, the control of building your own provider network and the ability to keep your own doctor; Appley Health brings back the fundamental event in healthcare, the direct relationship between patients and providers.
Self-funded employers typically contract with large insurance companies to administer their health plans and also lease the insurer's network of providers to deliver care for their employees. This places the large insurer as an administrative intermediary, directly between the employer and the providers.
Appley Health's research has shown that many of these intermediaries charge employers a high per employee administrative fee each month and by hiding under non-audit provisions in their respective contracts with the employers on one side, and providers on the other, they secretly engage in arbitrage of medical billing claim payments. This adds hundreds of billions of dollars in unnecessary cost to an already bloated healthcare system.
Additionally, these intermediaries have continued to narrow their provider networks by terminating provider contracts, resulting in less provider access and choice for covered employees. This has forced many of the patients to find new doctors.