CORAL GABLES, Fla., Oct. 27, 2022 (GLOBE NEWSWIRE) — MSP Recovery, Inc. MSPR (“MSPR”, “MSP Recovery” or the “Company”), a leading Medicare, Medicaid, Commercial and Second Payer reimbursement company and technology leader, today provided a business update.
- Since the announcement of MSPR’s partnership with Tokenology Labs to develop LifeChain (October 2021), exciting progress has been made on the project, leading to a new expanded partnership between the two companies.
- LifeChain has evolved into a platform that tokenizes medical claims at unprecedented speed, which is expected to significantly speed up the processing of MSP Recovery’s customer claims data and the identification of potentially recoverable claims.
- The expanded partnership now includes the development and operations of MSPR’s proprietary LifeWallet platform, which focuses on services that benefit multiple industries, including healthcare, legal, sports and education.
MSP Recovery announces the expansion of its ongoing relationship with Tokenology Labs, a technology company specializing in the development of large-scale tokenization platforms. MSPR and Tokenology Labs developed the proprietary tokenization platform LifeChain and made significant progress on the project, resulting in efficiency, speed and scalability in claims tokenization.
LifeChain — which will connect providers and payers to tokenized medical claims with unprecedented speed and transparency — is designed to transform standard medical claim forms into unique digital versions on blockchain (NFTs, or non-fungible tokens) that are filtered through a proprietary pipeline of quality control algorithms and predictive AI , which help ensure responsible parties make proper payment and help maximize return on value for medical providers.
LifeChain has already achieved a stable processing speed of more than 20,000 fully minted digital tokens (claims) per minute, which is supported by a…
