Business
eWellness is Developing a Tokenized Telehealth Payment System for the Healthcare Insurance Industry
eWellness is Developing a Tokenized Telehealth Payment System for the Healthcare Insurance Industry.
About this update from Ewellness Healthcare Corp
[{"type":"text","content":"\n\n Culver City, CA, April 16, 2018 (GLOBE NEWSWIRE) -- eWellness Healthcare Corporation – (OTCQB: EWLL) – a provider of the state of the art PHZIO platform for the physical therapy (PT) and telehealth markets, announced that it is developing the first tokenized physical therapy payment system for insurance companies, large scale self-insured corporations and their insured members. Fintech Global Consultants (FGC) http://f-g-c.com will assist the Company in completing this Blockchain and tokenized payment system.\n This tokenized payment platform will allow patients to receive telehealth physical therapy evaluations and real-time monitored PT treatments through the use of a PHZIO token. All patient treatment records will also be blockchained within this payment system. This system will enable the confirmation of all patient treatments, which in turn will eliminate medical treatment fraud. This tokenized payment system will also eliminate all billing services for any licensed PT clinics using our PHZIO treatment system. Our tokenized payment system will also eliminate any patient co-payments.  Utilization of our platform is estimated to reduce physical therapy costs by 50% or more for insurance carriers. In order for insurance companies to receive these new low cost physical therapy services, they will be buying tokens in bulk in advance of distributing the tokens to their insurance membership. These members will then be able to seek PT care through our PHZIO platform in return for a token, that can then be redeemed by the telehealth provider for immediate payment by the insurance provider. This tokenization of the billing process will eliminate delays in telehealth provider reimbursement by health insurance carriers. Our PHZIO telehealth clinical methodology typically calls for an initial patient evaluation,  followed by 5-12 treatment sessions and a treatment discharge session. We have found that generally, patient outcomes are better that in-clinic care, due to the convenience of using our PHZIO platform. Douglas MacLellan, Chairman of EWLL stated, ”We believe that our new tokenized payment system combined with our PHZIO treatment platform will revolutionize physical therapy and wellness delivery. Our PHZIO platform can provide PT care that is: significantly cheaper for payors and pa...