Altarum Institute, a nonprofit health systems research and consulting organization, has announced its plan to join healthcare innovation firm Hashed Health’s work group to advance payment solutions using blockchain and distributed ledger technologies (DLTs).

Under the partnership, Altarum will collaborate with Hashed to continue work on building distributed networks to drive alternative payment models and models that connect payment with benefit design. With this, Altarum is joining the growing global network of partners which is quickly becoming an innovation hub for collaborative networks in healthcare using blockchain technology.

“There are operational roadblocks to implementing health care payment and benefits models, which can be overcome with blockchain technology,” said François de Brantes, vice president and director of Altarum’s Center for Payment Innovation. “We are excited that by collaborating with Hashed Health we can imagine, develop and bring groundbreaking solutions to market and propel the implementation of alternative payment models far further than they otherwise could.”

Hashed Health is a collaborative healthcare innovation firm that aims to realize the potential of blockchain and DLTs. It provides value-added services such as network product management, product development, regulatory guidance, and technology support services. Hashed Health focuses on blockchain implementations to address a range of well-known issues in healthcare including IoT, revenue cycle management, payment reform, medical records, insurance and healthcare supply chain logistics.

Earlier in February, Hashed Health raised $1.85 million in an initial funding round led by healthcare investment firm Martin Ventures.

“The addition of The Altarum Institute to our community brings Hashed together with one of the world’s thought-leaders in payment innovation and sustainable health spending,” said John Bass, CEO of Hashed Health. “Our combined expertise will play an important role in advancing new, sustainable payment and benefit solutions in healthcare.”