Over the next decade, healthcare spending in the US is expected to rise to $5.7 trillion — one fifth of the entire US economy, by 2026.
Our health system is in dire need of innovation, and at SEVAITS, we believe blockchain technology can eliminate one of the biggest bottlenecks in the healthcare system: provider credentialing.
It can take upwards of six months for a medical professional to complete their initial credentialing process.
Six months before they can provide quality care to patients.
The average healthcare facility works with more than 20 health plans, each one with different credentialing requirements and forms.
Why are we still relying on manual processes, faxes and certified mail to provide this information?
Using blockchain’s distributed ledger technology, we can build a trusted and reliable network where credentialing providers can provide verified credential information to multiple parties, without having to duplicate their efforts 20 times.
We can get that six months down to six minutes.
To get there, SEVAITS is building an advisory board of healthcare professionals, academics, and state legislators, and establishing relationships with other blockchain teams working in the healthcare space.
Michael Wade – Founder
Michael has over 20 years experience in technology and business, and has been providing information technology support and consulting services to medical and dental providers in the Hampton Roads area for several years. He ran for Virginia’s House of Delegates in 2017 to help pass Medicaid expansion. He has been and has been focused on finding ways to foster blockchain and cryptoasset development throughout the greater Hampton Roads and mid-Atlantic regions through a series of networking events, blogs and podcasts.
Sachin Shetty, Ph.D. – Technical Advisor
Dr. Shetty is a cybersecurity researcher and associate professor at the Virginia Modeling, Analysis and Simulation Center at Old Dominion University. His laboratory has received over $10 milion in funding, including over $500,000 in blockchain-related work from the Air Force Research Lab and Sentara Healthcare.
Jennifer Georgino – Strategic Advisor
Ms. Georgino is a subject matter expert on blockchain in healthcare, with multiple advisory and industry associations under her belt. She has been a regular contributor at blockchain and healthcare related conferences and publications over the past few years, and is considered a consummate professional. Her background is in legal, compliance, and regulatory issues.
Deloitte’s 2018 global blockchain survey indicates that healthcare executives plan on spending more than $1 million on blockchain technology in the next year.