When a physician graduates or obtains a state license, the credential issuing body will issue a digital credential to the physician while also writing that the credential was issued onto a distributed ledger, otherwise known as a blockchain. This creates a decentralized data registry of physician credentials.
When a credentialing verifier, such as a health system, an insurance company, or a new employer asks for proof of credentials, they will now be able to only ask the physician. They will no longer have to do a secondary verification. The credential verifier simultaneously cross checks the validity of the credential against the decentralized data registry, which is cryptographically secure and updated in time.
The HPEC platform will remain decentralized and owned by the physician users of the network because we will follow self-sovereign identity standards developed by entities like the W3 consortium as modeled here.
What this means for practicing physicians
Physicians will now be in complete control, and they will be the only source of truth regarding the validity of their credentials. Physicians will control to whom they disclose their credentialing information, and for how long they want it disclosed. They can choose to share only the portions of information that are required, and nothing more.
For example, a physician can prove that they have the credentials to prescribe medication to a pharmacy without having to put all of their other professional identifying information onto the centralized e-prescription registry. This will protect physicians from risk of identity theft and data mining surveillance practices. This solution is privacy preserving for both physicians and patients. Now only the physician will know their prescribing and referral patterns, and that information will be stored and owned by the physician to whom that data belongs.
Physicians will also be able to verify their credentials instantaneously, in order to change jobs quickly. This will empower the physician community to have employment mobility in order to take control over their right to work. Freedom of mobility will empower physicians to choose jobs that treat them fairly. HPEC will make it easier for physicians to leave jobs and insurance networks if they are unhappy. They will also find it easier to pick up part time extra temporary work with ease.
As we approach a critical mass of physicians on the network, we will have an increasing ability to collaborate and communicate privately with each other and our patients. Because HPEC is decentralized, it eliminates the risk of privacy infringing surveillance models or distant and bloated bureaucracies influencing the practice of medicine.
HOW WILL THIS MAKE MONEY?
The network is run on a 2% transactional fee… Less than most credit cards charge,
and much less than the price of most union dues.
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When a physician charges for a service they can charge either the patient directly or through other more common non-patient payers such as:
- Insurance Companies
- Medicaid or Medicare
- An employer who self-funds the care of their employees
The price patients and other payers will see will have an additional 2%, which is the fee that will be used to power the network.
The physician sets the price, and is paid at the time the service is rendered.
HOW WILL THE NETWORK GROW?
Physicians want their autonomy back, and this technology has the power to get them there.
Our network is decentralized, so any physician can participate.
We are rewarding physicians for joining the network, so it’s better than free, and easy to join.
When physicians join and participate they will be rewarded with points, which they can then later use for services they need. Examples of those services include: legal aid, advertising, data analytics, payment processing, idea incubation, lobbying efforts etc.…