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Gem Introduces Blockchain Platform, Announces Revenue Cycle Management Pilot

Gem unveils GemOS, a flexible blockchain platform, and announces a Revenue Cycle Management Pilot running on the Gem Health Network at Distributed:Health.

Gem introduced its core product, GemOS, and the platform’s first pilot project in medical claims processing today at the Distributed: Health conference in Nashville, TN.

GemOS is a modular, agnostic platform that connects proprietary technology to shared networks, as is outlined in the technical white paper published Sunday. The platform enables custom logic development for companies developing meaningful and scalable blockchain applications for health, finance, insurance and identity.

The Revenue Cycle Management pilot runs on GemOS and is supported by the Gem Health Network (GHN) announced in April. The GHN is a federated blockchain designed to support specific use case development using GemOS instances. Among the first participants is a global commercial bank with other leading companies seeking to achieve cross-industry data and process integrity.

“The vast amount of data that flows in and out of a simple medical claim creates impact beyond that workflow,” says Micah Winkelspecht, founder and CEO of Gem. “Our partners want to use this data to solve real problems that affect the industry today, and we believe the solution requires network integrity that is independent of a central administrator.”

Winkelspecht also states that healthcare companies need proof that blockchain technology can be applied to real problems, which requires targeting a single business use case and scaling it through its network of stakeholders.

“We are using GemOS to create a pilot network around a specific use case that can be scaled into a full ecosystem,” says Winkelspecht. “That is when blockchain-enabled business logic can begin to flow between market partners and unlock value.”

Gem foresees use case driven development process becoming standard for scoping and scaling the next wave of blockchain applications for enterprise, consortia, working groups, and consulting companies alike.

If your company is a software, service or stakeholder in the revenue cycle value chain, please contact Gem at health(at)gem(dot)co to learn more about how we’re using blockchain technology for medical claims and how your company can get involved.

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