Abstract
BackgroundThe potential of blockchain technology to achieve strategic goals, such as value-based care, is increasingly being recognized by both researchers and practitioners. However, current research and practices lack comprehensive approaches for evaluating the benefits of blockchain applications.ObjectiveThe goal of this study was to develop a framework for holistically assessing the performance of blockchain initiatives in providing value-based care by extending the existing balanced scorecard (BSC) evaluation framework.MethodsBased on a review of the literature on value-based health care, blockchain technology, and methods for evaluating initiatives in disruptive technologies, we propose an extended BSC method for holistically evaluating blockchain applications in the provision of value-based health care. The proposed method extends the BSC framework, which has been extensively used to measure both financial and nonfinancial performance of organizations. The usefulness of our proposed framework is further demonstrated via a case study.ResultsWe describe the extended BSC framework, which includes five perspectives (both financial and nonfinancial) from which to assess the appropriateness and performance of blockchain initiatives in the health care domain.ConclusionsThe proposed framework moves us toward a holistic evaluation of both the financial and nonfinancial benefits of blockchain initiatives in the context of value-based care and its provision.
Highlights
BackgroundThe health care sector has recently been focused on two related challenges: the transition to value-based care and the use of innovative technologies to facilitate the delivery of health care
Motivated by the need for a framework to guide the strategic evaluation of blockchain applications within a health care organization, we extend the balanced scorecard (BSC) approach, which is an already well-established performance evaluation system
In this study we adopted a for-profit health care organization’s view, as a majority of current blockchain implementations are in for-profit organizations
Summary
BackgroundThe health care sector has recently been focused on two related challenges: the transition to value-based care and the use of innovative technologies (such as blockchain technology) to facilitate the delivery of health care. The transition to value-based care, which aims to improve the value of care while providing it at a lower cost, places new demands on health care information systems (IS) [1] that current health information technology infrastructure is not designed to support [1]. Adler-Milstein et al [1] identified three major stakeholder groups that must be supported in achieving value-based care: patients, providers, and researchers. Disruptive technologies such as blockchain offer the potential to support these currently inadequately supported stakeholder groups with Health Information Technology (IT) infrastructure. Current research and practices lack comprehensive approaches for evaluating the benefits of blockchain applications
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