In Health Blockchain Detroit, who exactly is the customer? Moving swiftly into BlockChain decisions without thinking about the ultimate customer will limit the potential of Health Blockchain.
Moving too fast will lock industries, employers, providers, and customer into systems with barriers to entry. There are two options in health Blockchain. First, continue the industry and practice silos we have today. Or, second, create a future state that is built for the customer.
Seeing the future through the eyes of the customer means challenging the silos in existence today. Silos will have the opportunity to protect and maintain their existence by using BlockChain. Is that what is needed? The alternative is to rethink the end-to-end delivery of not only healthcare but how information and health exist.
Autonomous Car Is To Blockchain
Blockchain disruption for business and customers are the same disruption everyone can see coming with automotive design. The autonomous car future for drivers and passengers of automobiles is what blockchain is to customers.
Visually, most conversations occurring around “driverless transportation” is easy to see. If you drive you can easily see the concerns and opportunities of building the future of transportation.
Keeping to the analogy of automotive disruption, I’d suggest people can not see the Blockchain disruption like they can see the future of transportation. I’m not sure most people think about what it takes to put unlimited funds on a healthcare card, just a simple example. Financial transactions are obscure, everyone uses financial transactions but the “roads” and maps connecting accounts behind the scenes are not obvious like the roads we ride on or drive on. While using a bank account and a healthcare card are familiar to people, most people don’t understand the transactions that make those cards work.
Turning left on a road when you drive will be duplicated by autonomous cars, you can immediately understand some of the complexity in doing that because it’s quite a visual event. Of course, the programming itself is another story altogether. But, anyone who has ridden in a car can appreciate and perceive the challenges ahead for automating this activity.
But, making the transactions for financial service is hard for many to perceive because they’ve not been involved in the transactional nature of the healthcare card, their ATM withdrawal, or other financial transactions.
Play It Safe?
Healthcare Blockchain is one idea, the entire Blockchain may indeed be much more inclusive of other transactions. The question is, can we use Blockchain to improve the customer experience? Or, will we simply duplicate the silos in existence today?
I suppose same-old-same-old is practical, duplicating silos because it’s safe. But, what if we can we turn upside down business practices and economics to give customers the upper hand in transactions? Blockchain will, or may, rearrange the economic advantage and redistribute leverage to the individual. That is to each of us.
Don, What Are you Talking About?
Health blockchain is simple. It proposes an internet security level never seen before, it proposes to use that security to trade money like bitcoin, but it also can include a contract that goes with the financial transaction. Simple, really simple.
Contracts are traded with the financial transaction avoiding the disconnect between financial transaction flow and contract flow. Blockchain makes ridged controls that eliminate tampering or changing contracts without others knowing.
What if you personally would benefit from blockchain? The laws of economics could be rewritten. No, I’m not kidding, economics can now be rearranged putting humans at the front of the engine riding behind the industry engine. Sounds crazy but it’s not? The point of having a Detroit Health BlockChain meeting is to demonstrate this phenomenon in a universal way. To engage the discussion across silos and examine what the future state could be.
Let’s Look At One Programmer, Developer View of Blockchain
The developer whose image is in the background (below) proposes a solution that is centric to their silo (any developer would reflect the same business idea), their way of monetizing their world, that’s what I call silo. I use this image but you will find something similar on any programming, developer, site. That’s fine for them, isn’t it? After all, what’s wrong with the way they paint the future?
The background in the image below shows how a developer perceives blockchain. They show banking and financial markets as a silo, insurance, retail and customer goods, government, and others as silos they can support and create using their Blockchain. Notice, it will be their Blockchain.
But stop a minute, ask, are they correct? Blockchain can be way more than recreating silos that match today’s business structures. The current state of business is what this tech company proposes as solutions. Even my title of Healthcare Blockchain proposes the same. But, is this the future state we want when the current state we know has flaws? You see, Blockchain has the ability to create a future, unlike our current state. But, leaders of thought, movers and shakers are going to have to understand other silos and engage in current state discussions to determine how Blockchain future will look.
Get a Glimpse of the Future By Looking at the Past
The old adage, “if you keep doing what you’ve always done, you’ll get what you’ve always gotten.” Or, Einstein’s, “Insanity is doing the same thing over and over again and expecting different results.”
The distributive nature of health Blockchain means alignment between and in silos can change to better serve customers. We know it can change, we know but is there any momentum to change? If there is momentum to change, where will it come from? Silos that exist today, or customers who have the most to gain? Change is something we have to choose, the future is ours to design. This is an economic do-over.
This is not a pie-in-the-sky notion, this is right in front of us. Answer this question, please.
Do you build the roof before the foundation?
It’s another analogy to convey we are at the beginning, and now is the time to lay the foundation, to review the current and create the future, not in a selfish way, but in a meaningful way, let’s build Blockchain as the new future.
What is starting to form around blockchain are answers before we’ve determined the questions that need the answering. Developers, like the example image above, are designing the future without public discussion on something as obvious as, who is the customer?
Is your silo even part of the discussion? What happens if you come late to the discussion?
Where are Customers and Contracts Connected?
If I had to pick the direction, I’d use my own 30 years of operational experience that spans money and contracts of all kinds: HR, payroll, taxes, government reporting, healthcare coverage, healthcare payments, provider (hospital, physician, pharma, etc.) fees, rebates, and other forms of healthcare payments, plus 401k plan payroll transactions, deferred compensation, individual IRA’s, banking, annuities and all kinds of contracts and transactions. This history (like your history) only tells me, us, there’s an opportunity to do better for customers. It doesn’t give me, or you, the answer to how.
What’s obvious is silos exist as barriers to understanding what’s possible for customer value, and at the same time, the opportunity to improve the customer value by shaping a better future.
Who is Customer?
Now that’s simple. You. Each of us. Our families, our communities, the US, the globe. No, really, this is simply the fact of Blockchain at its greatest boundary.
You will be a customer of Blockchain, so, start asking questions about what you want for yourself in retirement for instance? What financial transaction and contract would you like to see secured for your future? Medicare? Social Security?
Why, Health Blockchain Detroit?
I believe identifying the current state in healthcare will get a solid conversation going that is needed. The goal is an open forum to engage you in discussions that matter. The opportunity for changing the dynamic from a current state to a future state should not lose out to silos.
Healthcare Blockchain can rearrange economics and give us a chance to break with the status quo. Yes, this is an “eat the elephant” idea meeting.
But, as I see it, 8% of people are thought leaders, early adopters and change agents. I’m seeing this as a chance to get that group together now.
together we’ll discuss these Questions
Who is the Customer of health blockchain Detroit?
Should we join in an existing blockchain network or create our own?
What current business processes could most benefit from blockchain?
What existing technical approaches to moving and integrating data into or out of a blockchain will be relevant to our use cases?
Who are our technology and business partners, and how can we convince them to support a blockchain initiative to transform or even eliminate a given process?
What is the current state of processes and how does your silo/operation fit in?
What future state is possible?
Source: some questions were obtained from IBM.com, https://www-01.ibm.com/common/ssi/cgi-bin/ssialias?htmlfid=KU912407USEN, Link dated 9/11/2018.
Anyone who knows me knows I love Jesus and his Church, the bride of Christ. The original article, the one true Church.
But, the crazy things people do in the world can also be found in the Church and the repeat scandal in the Church, sadly, reflects the moral changes in our culture. No surprise then, if we rid the Church of the evil that’s come into the church, we stand a chance of influencing the culture to do the same. If the Church can’t, or won’t change, then the culture will continue to devour the lives we love; our marriages, families, children, and grand-children. Continue reading “Holy Mother Church is Suffering”
Blockchain will require stakeholders from every silo to play nicely together. This HEALTH-BLOCK-CHAIN-DETROIT Forum will continue the conversations and help you catch-up, or stay-up on what’s happening. Meet others who plan to use BLOCKCHAIN in their Healthcare Silo and want to connect with you.
BLOCK-CHAIN technology is moving swiftly, Financial Service giants Fidelity and Prudential, Universities like MIT, and Harvard, Federal Reserve, and Regulators are discussing and testing BlockChain. Stakeholders from every Healthcare silo need to be part of the discussions. This Forum is an opportunity to see and hear who is making BlockChain happen here in Detroit and get your ideas on the table.
HEALTH-BLOCK-CHAIN will force transparency, changing how just about every team does their work.
Payer teams who will be affected: actuarial & pricing, underwriting, marketing, sales, Medicare, CMS, Medicaid, affinity, agents and distribution of every kind.
HR departments: large and small employers, and related functions and vendors for payroll, third-party administrators, total rewards,
Physician groups: contracting, billing, medical records, coding, and other payment streams,
Hospitals: contracting, billing, revenue cycle, charge-master, medical records,
Pharmacy benefits: incentives, pharmacy rebates,
Regulators, Policymakers and legal for plan documents, State and Federal regulators,
Banks and other financial institutions,
Developers in-house and outside developers,
Research and the science of health.
Experience Working In Most Silos
So, why this now? HEALTH-BLOCK-CHAIN is changing healthcare.
Spanning more than three decades, I have first-hand experience in many of the healthcare silos. It is easy for me to see BlockChain replacing outdated methods and systems, replacing them with patient and physician friendly tools. This is the discussion, it makes sense intuitively and many are studying it right now.
Healthcare is broken, that is no surprise. Accepting our current state and focusing on the future state, with this technology as the backdrop, means allowing our history and experience to influence the decisions that will be the basis of the disruption. It means, embracing what is coming without losing lessons learned.
Like me, maybe you keep hearing how transparency is what’s needed in healthcare. If that is true, BlockChain is transparency for every stakeholder or silo in Healthcare.
BlockChain is the transformational, disruptive change needed to move us from our current state to the future one. Be part of the discussion.
Should You Attend?
Seasoned executives would benefit the most, but all are encouraged to attend. There is a Detroit and Michigan Ecosystem for Healthcare and this Forum is intended to help you connect with others who share an interest in BlockChain. Share this with others to make this beneficial and to include many viewpoints. Invite them to be part of your internal conversations and participate in the larger conversation. In this safe environment you can connect and learn with others.
Register Your Interest, Details To Follow
I will schedule a fall date and location after hearing from you and others to determine the likely attendance. In addition to attending, let me know if you, or someone you know, are a subject matter expert and interested in presenting.
If sponsoring is your interest let me know that as well, it would be helpful to keep any cost as low as possible to make attendance easy.
Complete the form, and bookmark this page so you can return to offer further insights or thoughts.
Sadly, information for owners almost exclusively comes from financial service salesmen or saleswomen. In most everything I post, I focus on filling the void of information to protect an owners ass_ets. So, the info below, an owner should know. But, your product salesperson won’t be providing.
The DOL recently focused on CPA Auditors and how their audit of benefit plans happen. They reviewed work processes, training, licensing, practice size. Then, they looked to improve CPA practices to fix the problems they found. The DOL wanted to know how well CPA’s understood employee benefit plans.
CPA’s Are Not Benefit Plan Experts
CPA’s are not well trained in benefit plans. That’s what the DOL discovered. They’re not prepared and do not have good processes to perform plan audits. This includes audits for retirement or welfare plans. Welfare is the technical name for plans that are not retirement, this includes health plans, dental, flexible spending accounts, COBRA and other plans.
Owners Are Responsible
Along with their correction to the CPA community, the DOL offered advice to fiduciaries. Fiduciaries are those responsible for the plan, including the auditor’s actions. One of all the hats owners wear includes fiduciary, they are responsible for what they setup for retirement and healthcare. No one else can be substituted in that role. Sorry Owner friends.
Top 5 Audit Failures Identified by the Department of Labor
1 The word “limited scope audits” poorly defines what should be happening.
2 CPA’s from any size firm who perform too few audits, should not be doing audits.
3 Training of CPA’s is insufficient.
4 CPA’s who do not have others audit their work, should not be doing audits.
5 Don’t assume large firms do enough audits
It Takes Time Owners Don’t Have
Benefit plans can burn up a lot of time for owners who aren’t familiar with their responsibilities to lead the audit. The DOL reminded owners that the audit responsibility ultimately is the owner/fiduciary/trustees responsibility. Your job is to look after the best interest of your employee benefits.
What’s the fix?
The best solution is to hire an outsider, not an employee, not a vendor, not a friend. Someone independent, and someone who can review what’s best for the employees with experience and training. That’s it.
You can’t trust fiduciary to anyone, but you should not expect a financial advisor or anyone associated with the company or you personally to make recommendations for operating the plan.
It doesn’t have to be expensive.
This doesn’t have to be expensive, look for independence in an outsider, or look for a contractual agreement to assume fiduciary responsibilities, just remember, you can’t pass off your responsibility but you can hire trusted people to help.
I’m focused on helping small business owners by guiding them and not selling them. I can help owners by doing any of the following: preaudit plans reviewing frequently overlooked plan details, act as trustee or fiduciary, reduce HR costs and increase customer satisfaction by using LEAN efficiency techniques.