The new blockchain is built to bring transparency to organizations. It also aims make governments and governance boards accountable for the outcomes of budgets, expenditures and other financial results. Through blockchain, government organizations can match their spending with tangible outcomes.
EY designed the new blockchain to improve administrative efficiencies while also being able to track funds in real time. The blockchain puts all transactions into a single source of integrated financial and nonfinancial performance. In the end, the goal is for leaders to make more informed decisions.
“Modern public financial management requires focusing on the things that matter most — transparency, accountability and robust evidence for decision-making — all factors that can be enhanced by blockchain technology,” said Mark MacDonald, EY’s global public finance management leader.
More articles on health IT:
Florida women’s clinic alerts 520,000 patients of data breach
Alabama health system resumes services after week-long computer outage
Northwell extends Allscripts partnership: 3 notes
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
