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HealthCombix Creates Blockchain-Based Healthcare Payment, Asset Exchange, and Node Operator Network

The network will initially be used in cross-border, payer, and employer healthcare payment related applications.

Nashville, Tennessee, USA – WEBWIRE

Cross-border healthcare payments market will reach $3.4 trillion by 2025

HealthCombix, Inc, a Nashville-based healthcare blockchain company, announced today the launch of  HCX PAY a new public payment blockchain and node operator network.   HealthCombix designed the solution to provide a new foundational healthcare payment network focused on payment confidentiality, improved user experiences, outcomes and activities based payments, and lowering the cost of transaction fees around the globe.

Healthcare providers, enterprises, individuals, and services organizations are invited to reserve an HCX node to provide peer-to-peer compute services and begin to experiment with new innovative applications.  “Our virtual node managed service makes it easy and affordable for individuals and industry stakeholders to participate in the development of a next generation healthcare payment network.  This is a fantastic opportunity to help validate transactions, contribute to the network, and enable the development of new and existing healthcare blockchain applicaions to create new and exiciting efficiencies,“ says Maaghul, CEO, HealthCombix, Inc.

HealthCombix will support a myriad of payment related use cases including international transactions.  According to a study done by Visa and Oxford Economics, the cross-border healthcare payments market will reach $3.4 trillion by 2025.  ”This is a huge market opportunity for low/no cost payment solutions, tokenized wrap-around payments, and improved user experiences for consumers, payors, and providers.  We believe HCX PAY can bring the world a better and cheaper way to pay and consume healthcare services when traveling to foreign jurisdictions or how governments pay for sovereign citizens medical expenses abroad,“ says Maaghul.

HCX PAY at full deployment will be capable of handling millions of transactions and token exchanges each day.  Its privacy-preserving features make it nearly impossible for third-parties to track or trace commercial or patient payment behavior providing stakeholders with a degree of privacy not seen before in healthcare payments. 

”The first phase of our point-to-point payment solution will drive the costs down for payers and patients.  Cross-border medical bills are typically quite high for care including cancer treatment and major surgeries.  The costs add up and the savings can be significant" says Maaghul. The solution will include gateways and APIs for cross- border bundling platforms to authenticate and integrate with the HCX PAY network and exchanges.

The second phase of the project will include new and novel methods of payment and asset swaps for event-driven payouts, bundled or wrap-around payments (across both medical and non-medical services), split payments, and other new payment and data capabilities. HCX PAY will also be marketed to the major global health systems, self-insured, and telehealth platforms for stakeholders seeking alternative, lower cost payment and greater data security options.

HealthCombix, a blockchain product and development company, is focused on building new foundational decentralized infrastructure for healthcare around the globe.  The company was founded by Cyrus Maaghul in 2017 a former internet payments entrepreneur who successfully ran startups in both the United States and United Kingdom.  Prior to starting HealthCombix, Mr. Maaghul was a director of new product development inside Fidelity Investment’s Blockchain incubator.

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