News

11/13/2018

MDW Unveils First Radiology Blockchain Platform at RSNA 2018

Platform designed to streamline access and communication among all players in diagnostic digital imaging ecosystem

November 13, 2018 - Medical Diagnostic Web (MDW) will debut the first radiology blockchain platform designed to connect all players in the diagnostic digital imaging ecosystem at the 2018 Radiological Society of North America (RSNA) annual meeting, Nov. 25-30 in Chicago. MDW aims to build new business opportunities for radiologists and streamline access to imaging providers for all stakeholders in the healthcare ecosystem, creating an open, transparent and fair marketplace.

Harnessing the power of the end-to-end radiology community, the MDW platform helps solve many of today's significant problems in imaging, according to the company:

  • Service access;
  • Delivery;
  • Results communication;
  • Speed of payment for services;
  • Integration across the continuum of care.

With its open, decentralized communications infrastructure, encrypted data transmission and immutable audit trails, MDW's blockchain marketplace enables individual radiologists and radiology groups to forge new business relationships and benefit from immediate compensation for services rendered. Radiology service organizations can easily take advantage of as-needed resources to transact with new clients, boost reading volume and decrease exam turnaround time.

At the same time, major issues like global data sharing, information technology (IT) interoperability, scan duplication, access to current and prior exams, and continuity of the patient record all become irrelevant, according to MDW, with an open blockchain foundation enabling linking disparate sources of medical data as required. As a result, the platform will be able to offer tangible benefits for patients, referring physicians, specialists who frequently use images, payers, malpractice insurers and more.

Those wishing to contract for imaging reading services through the platform purchase blocks of exam interpretation credits at competitive rates. They can then order a reading transaction with any willing provider of their choice on the system. Once imaging specialists submit their report, payment credits are immediately applied to their account through a secure blockchain transaction, eliminating today's significant delay in payments for reading services. Imaging specialists can withdraw credits as cash immediately following the deposit.

"Today healthcare is facing a significant international shortage of radiologists," says Michael Yuz, M.D., chief medical strategist for MDW. "Within the next several years, the US will face a similar escalating problem. Breaking down provider corporate silos and connecting radiologists across traditional disparate healthcare entities is more important than ever before to make the most of healthcare resources, manage costs and ensure efficient service delivery."

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