COLUMBUS, Ohio & ATLANTA--(BUSINESS WIRE)--Two industry leading companies with focused solutions for the healthcare ecosystem, Aver Inc. (“Aver”) and HealthshareBlox, LLC (“HSBlox”), today announced a strategic partnership that will integrate HSBlox’s distributed ledger technology (“DLT” aka “blockchain”) smart contract enabled, episodic payment solution (CuraBlox™) into Aver’s episode of care administration, analytics, pricing, and network contracting solutions. This collaboration represents an innovative, best-in-class approach to the administration of prospective bundled payments. The companies have identified initial clients for the administration of knee, shoulder, and maternity bundles.
Concurrently with this collaboration, Aver will launch its second-generation provider solution for managing and operationalizing value-based contracts. The HSBlox CuraBlox™ solution will streamline administrative and care information flow among affiliated providers, ensuring transparency and improved care coordination. Applying smart contract technology and innovative workflows, the collaboration will automate payment and administrative processes among participating providers in support of quality improvement and cost containment.
Aver has established itself as the leader in analyzing, designing and administering value-based contracts. Aver’s solution evolution and HSBlox’s innovative approach enables the two companies to offer a pioneering end-to-end solution for Bundled Benefits ManagementTM.
HSBlox has established itself as an early innovator in the development of DLT-based solutions. With application experience in healthcare, supply chain, and fintech, HSBlox is a premier partner of R3 and builds its healthcare solutions on the R3 Corda distributed ledger platform.
Corda is an enterprise-grade DLT platform that removes costly friction in business transactions by enabling institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security.
“Real-time data sharing and alternative payment models are vital to improving care and containing cost. We are thrilled to collaborate with Aver to bring our DLT approach to healthcare payment innovation to market,” said Rahul Sharma, CEO of HSBlox. “Integrating CuraBlox™ with Aver’s industry-leading analytic and contracting solutions for episodes of care will accelerate the adoption of value-based initiatives.”
“We are very excited about the collaboration with HSBlox to develop an industry leading solution in support of value-based contracts among closely and loosely integrated clinical networks, resulting in better care coordination, improvements in quality and reduction of cost. Fundamentally, we are establishing networks based on seamless flow of information, changing the way patients experience care,” said Nick Augustinos, CEO of Aver.
“This is a great example of Corda’s versatility as an enterprise distributed ledger platform. As Corda was designed to meet the highest standards of the financial services industry, one of the most complex and highly regulated industries in the world, it can also be applied seamlessly to all other areas of commerce. In Healthcare, HSBlox is our leading partner and their use cases in value-based payment demonstrate the unparalleled benefits of DLT for the healthcare industry,” said David E. Rutter, CEO of R3.
Aver is a Columbus-based team of healthcare experts, engineers, and analysts that has designed a patented system to simplify value-based healthcare. To date, Aver has analyzed hundreds of billions of dollars in claims; developed thousands of bundle configurations; and saved payers, health systems, and other providers millions of dollars in value-based contracting. Besides supporting BPCI and custom developed episodes, Aver is a certified partner of Altarum Institute Center for Payment Innovation for delivery of the PROMETHEUS Analytics® methodology. Visit www.aver.io
HSBlox is an Atlanta-based technology company dedicated to bringing innovation and transparent economics to the healthcare ecosystem. HSBlox draws from its extensive experience in healthcare, supply chain management, and fintech to deliver next-generation healthcare applications built on its SETU DLT platform. Visit www.hsblox.com
R3 is an enterprise software firm working with a network of over 160 banks, financial institutions, regulators, trade associations, professional services firms and technology companies to develop on Corda, its distributed ledger platform designed specifically for businesses.
R3’s global team of over 140 professionals in nine countries is supported by over 2,000 technology, financial, and legal experts drawn from its global member base. R3 is backed by investment of USD 107 million from over 40 firms
Corda is the outcome of over two years of intense research and development by R3 and its members and meets the highest standards of the banking industry, yet is applicable to any commercial scenario. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. Learn more at www.r3.com