Solve.Care & American Research and Policy Institute Join Forces to Address Rising Costs in Medicaid
One of the areas of focus identified in the statement of intent is system integration work related to Medicaid Management Information Systems (MMIS) in individual state Medicaid systems and the Centers for Medicare and Medicaid Services (CMS). According to a report by the United States Government Accountability Office for Congressional Requesters, a total of $44.1 billion was spent by states and CMS for MMIS and Eligibility and Enrollment (E&E) systems from 2008 to 2018, with costs rising every year. The report concluded that rising costs were attributed to inefficiencies and weaknesses in oversight.
As Medicaid populations increase in states nationwide, the legacy IT systems managing it become more complex and unwieldy with issues of interoperability, efficiency, and the security of data. The partnership of Solve.Care and the academic team of ARPI represent a unique set of skills to help states address these issues. The combination of academic based predictive models together with the attributes of a blockchain platform with smart contracts provides data analytics, automation, auditability, and a robust scalable IT system to effectively and efficiently manage the ever-rising Medicaid populations.
Commenting on the announcement, Solve.Care CEO, Pradeep Goel said, “Blockchain as a technology has the potential to revolutionize the way healthcare is managed, when applied correctly. Using a distributed ledger to create dApps on the Solve.Care Platform that is secure and immutable solves interoperability and scalability issues prevalent in legacy IT systems. It allows for secure sharing of sensitive personal health information. This partnership with ARPI with data analytics brings the capabilities of the Solve.Care Platform to a whole new level to address the inefficiencies in the management of Medicaid.”
“As a result of escalating costs, in 2018 alone, this market was worth $6 billion. By incorporating predictive models based on academic research and analysis, and utilizing blockchain and dApps on the Solve.Care platform, as well as digital currency to tokenize events in data management and transfer, we can effectively address the needs and simplify the management of a complex IT system that serves hundreds of millions of beneficiaries in all 50 states. One such example of a benefit is increasing the efficiency and usage of Non-Emergency Medical Transportation (NEMT) in Medicare and Medicaid,” Pradeep Goel added.
Dr. David Randall, Executive Director of ARPI also commented, “Programs like Medicaid bring much needed healthcare to those who may otherwise are unable to afford it. However, the program can be very much improved to save billions of dollars for the American taxpayer. At ARPI, we are able to provide academic based research and data analytics to help policy makers make informed choices for the betterment the program. We have chosen to work with Solve.Care as our technology partner as they already have a proven track record of providing successful blockchain healthcare solutions. Together, we are able to provide a compelling case for states to consider implementing in order to arrest the rising costs of Medicaid, despite the increasing state populations.”
Dominic Tan
Solve.Care
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