The eWellness Healthcare Corporation http://www.ewellnesshealth.com provides the PHZIO platform http://phzio.com to use for Physical Therapy (PT). The company is developing the first tokenized PT payment system for insurance companies, large scale self-insured corporations, plus insured members. Fintech Global Consultants (FGC) http://f-g-c.com will provide assistance to the blockchain and tokenized payment system.
The tokenized payment platform will enable patients to receive PT evaluations and real-time monitored PT treatments via telehealth by using a PHZIO token. All patient treatment records will also be blockchained within this payment system.
Also, this system will be able to confirm patient treatments and in turn, will help to eliminate medical treatment fraud. The tokenized payment system will eliminate all billing services for any licensed PT clinics using the PHZIO treatment system and will eliminate any patient co-payments.
The PHZIO platform is estimated to reduce physical therapy costs by 50 percent or more for insurance carriers. In order for insurance companies to receive these new low cost PT services, they will be buying tokens in bulk in advance so the tokens can be distributed to their membership.
The members will then be able to seek PT care through the PHZIO platform in return for a token that can then be redeemed by the telehealth provider for immediate payment by the insurance provider. By tokenizing the billing process, delays will be eliminated for telehealth provider reimbursements by health insurance carriers.