ProCredEx

Strategy Choices & Milestones Attained Places ProCredEx Among Leading Healthcare Blockchain Solutions

Gartner’s annual survey of blockchain consultancy and technical services culminates in a trends report highlighting global movement in blockchain initiatives. The full report covering 2020 can be obtained from Gartner (www.gartner.com).

Three trends-of-interest cited by Gartner include:

  1. Driving blockchain initiative success by focusing on immediately actionable, use casespecific offerings that build toward long-term innovation
  2. Launch of first “Live-In-Production” blockchain healthcare solutions in 2020
  3. Emergence of r3’s Corda as the most-used blockchain technology

ProCredEx uses distributed ledger technology in its offerings to establish the provenance of credentials data and to render them immutable and permanently traceable. The result is highly reliable credentials data positioned effectively for exchange between healthcare organizations on a secure digital marketplace.

Blockchain Project Adoption

The Gartner survey sites industry-wide recommendations to:

  • “Focus on those use cases that deliver immediate efficiency gains”
  • “Optimize the impact of blockchain technologies on your project by selecting blockchain platforms showing the most market traction”
  • “Automate processes such as…, identity management, provenance, and shared record keeping [to reduce] the need for duplication of effort and reconciliation between parties, directly improving an organization’s efficiency of operations”

A priority tenet in our corporate mission is to support the healthcare industry by adopting a “solution-orientation” only applying the technologies needed to solve real-world problems most effectively. We understand that moving past technology theory and offering practical, immediately actionable, solutions that have a low barrier to entry and allow rapid adoption is the best way to expose the market to innovation and begin collaboratively enhancing healthcare credentialing.

First Live Healthcare Blockchain Solutions

While 2020 was a challenging year, it also marked the first healthcare blockchain solution go-live events. ProCredEx is proud to be in this cohort having launched its platform in the summer. The following chart highlights the status of blockchain projects, by industry, between 2019 and 2020.

status of blockchain projects, by industry, between 2019 and 2020

r3 Corda Enterprise Most Utilized Blockchain Technology

ProCredEx has long valued r3’s Corda for its enterprise focus, scalability, and performance. As r3’s most mature healthcare partner, we are excited to continue demonstrating the value and impact that distributed ledger technology has in healthcare. In 2020, 40% of all blockchain projects used r3 Corda, overtaking Hyperledger and Ethereum. Furthermore, r3 Corda was used in all the shared record keeping and identity management projects that Gartner analyzed. The following chart illustrates the number of projects using each blockchain technology in 2020.

Number of projects using each blockchain technology in 2020

It is an exciting time for innovation, especially in healthcare. The potential for blockchain solutions to materially advance many aspects of care delivery and administration are profound. At ProCredEx, we believe it is a privilege to serve the healthcare community and look forward to continuing efforts around offering immediately actionable tools that enable collaborative  credentialing.