This interview is part of our new Blockchain In Healthcare series, where we interview the world’s leading thought leaders on the front lines of the intersections between blockchain and healthcare.
In this interview we speak with Michael Dershem, Founder and CEO of MAPay, to understand how his company is using blockchain to transform the healthcare business, and what the future of the industry holds.
1. What’s the story behind MAPay? Why and how did you begin?
MD: Let me see where to begin. Wouldn’t it be nice to be sitting at your kitchen counter on a Sunday night and be able to pay all of your healthcare bills in one click, and have a payment network figure out where the payments should go? After spending about a dozen years or so building some of the first payment portals for healthcare, the co-founder of MAPay and I set out to do that impossible task. And we did just that. We figured out how a patient could pay multiple providers who had no affiliation with one another other than having you as a patient. This happened in 2015 as a joint initiative of our two companies, which together have more than 50 years of experience. We did our first commercial transactions in September 2017 under MAPay and haven’t looked back. We are now using what we call a hybrid architecture: bringing and testing blockchain and AI, in a prudent and pragmatic approach.