Between 1990 and 2007, the cost of healthcare more than tripled, and it hasn’t gotten any better since then. With rising health insurance prices that cover less, more Americans are either going to the doctor only when absolutely necessary or are not going at all. It is one reason why 44% of Americans say they skipped a trip to the doctor when they were sick or injured – it was just too expensive to go. Concerned by this and believing that everyone deserves healthcare no matter who they are or where they live, Claver Misago founded Medical 24/7. The company is leading the industry in innovating how healthcare is provided to patients.
Claver and his employees knew that to really effect change in such a large industry, they had to find their niche. After analyzing the issues systemic in healthcare, Claver looked more closely at billing and other areas and saw issues Medical 24/7 could solve.
In the healthcare industry, billings are done by medical billing and coding companies. The manual process of writing codes and submitting bills to payers (insurers) takes a long time and in many cases can result in errors in the bills as well as the bill being returned to senders, causing more delays in payment and more fees added to the charges.
To solve these issues, Medical 24/7 provides a one-of-a-kind blockchain platform that involves all stakeholders in any healthcare process, solves the issues of billings, and delivers better healthcare. It offers three services that are innovating how healthcare is done:
- Medical 24/7 is an access-control manager of health data and medical records, giving people the power to take control of their own health data and medical records.
- The company provides interoperability services within the health IT ecosystem.
- Medical 24/7 provides a unique billing system with the blockchain platform.
The benefits of the company’s services are considerable:
1. Secure: All payments through Medical 24/7 blockchain are more secure, faster, and low-cost through the use of encrypted distributed ledgers that provide trusted realtime
verification of transactions without the need for intermediaries.
2. Reliable: The technology solves manual issues occurring in billing processes as well as reduces overpriced testing. The blockchain technology enhances reliability, as full copies of the blockchain ledger are maintained by all active nodes. Thus, if one node goes offline, the ledger is still readily available to all other participants in the network. A blockchain lacks a single point of failure.
3. Automatic: Payers will automatically release funds when a trigger event occurs, such as a patient getting a prescription filled or laboratory tests being completed.
4. Instant Outcomes: Medical 24/7 serves as the universal access control manager of health data and medical records, allowing simultaneous and immediate data access across multiple independent health systems.
Medical 24/7’s work is growing, and its impact is being felt across the healthcare industry. It is recognised by international communities as one of the top 50 healthcare companies based on five parameters: overall reach, industry impact, spirit of innovation, future readiness, and market demand. Claver himself has been recognized as one of the top 100 healthcare leaders in the world. Both awards will be accepted in June 2021.
Claver is optimistic about the future of healthcare. “With advancements in technology, it looks promising. In addition, the COVID-19 pandemic has been a wakeup call for the world. We are seeing changes in regulations that have been obstacles for the healthcare industry. I think between those changes and the innovations of Medical 24/7, we’re going to see a lot of amazing improvements in the healthcare industry that will ultimately make the lives of countless people better.”
Claver has learned a lot from his time with Medical 24/7 and passes on what he has learned to new entrepreneurs. “Medical 24/7 is achieving success because of its employees, who care just as much about affordable healthcare as I do,” he says. “That’s one of the first things I tell entrepreneurs: make sure they hire quality people. It really makes a huge difference in how a company is able to do its work.”
As for challenges, Claver laughs. “Oh yes, I have faced them. Every day! Like they say, ‘What can go wrong in business will go wrong.’ How you deal with challenges will define your character and determine your success. Medical 24/7 is doing great work, but I can’t deny that I have had to overcome my share of hurdles to get the company where it is today. But it is definitely worth it because we have important work to do.”
Change happens one bill at a time, one patient at a time. “With every bill that is lowered and every patient who decides to see the doctor because they can afford to do so, we get traction,” Claver says. “Before long, you’ll see that be the new normal, and Medical 24/7 will have accomplished what it set out to do.”
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