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Healthcare Payments Innovator MAPay Tackles Inefficiencies in Global Healthcare Transactions
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MAPay, LLC, a global healthcare technology firm, has deployed a transformational healthcare payment network with an expanding customer base, positive patenting positions, increasing revenues, and multiple industry stakeholder acceptance. The company utilizes distributed ledger technology to power smart contracts to transact secure medical solutions on the MAPay network. MAPay utilizes a hybrid architecture of both centralized and decentralized protocols for multi-party medical payments and HIPAA-compliant data exchange.
MAPay is poised to expand its payment network first built for the U.S., which spends $3.3 trillion annually on healthcare, with consumer out-of-pocket payments exceeding $515 billion, to capture the worldwide sectoral expenditure of $8.7 trillion. The company projects to have more than $11 billion in transactions processed through the network, with revenues of $471 million by 2021. The company derives revenues from both an enterprise B2B solution set, as well as its consumer-facing MEDspedia portal.
Based in New Jersey, MAPay is led by founder and CEO Michael Dershem; a.k.a. “Dersh,” a seasoned business entrepreneur who brings an extensive history in the healthcare industry that includes both executive-level roles and ownership of companies. While serving as founding CEO of Pharmasset, an Emory University start-up, he successfully raised more than $25 million in private equity funding and executed $30 million research and development agreements with Big Pharma. Pharmasset subsequently went public and was acquired by Gilead Sciences for $11 billion.
MAPay’s core business is its healthcare payments solution, which can reduce healthcare transaction costs by as much as 50 percent, while increasing transaction transparency, payment completion rates, and collecting proprietary data. MAPay has a unique patient-centric path to interoperability by way of its payment transaction engine and the trust it builds within its community.
“If healthcare providers and the legacy intermediaries who are running transactions were transparent, people would riot,” says Dershem. “There is a massive, expressed need in the market for increased interoperability via transparency within the medical encounter. That being said, MAPay offers unique, distinct, value propositions to all of the stakeholders in the healthcare industry. This is what’s leading to the momentum of our adoption.”
“An opportunity exists to eliminate a major portion of the claim processing and transaction costs associated with our own employees receiving care at our owned system network providers. Working with MAPay, we are hoping to create a payment network to streamline processing for our provider to our health system transactions, thereby reducing the historical network access and claims adjudication expense of operating the Plan by at least 20 percent while providing real-time transaction visibility,” says Michael Young, the CEO of Temple University Health System.
Moreover, the future promise of healthcare depends on the availability and sharing of patient data. Because of business and technology reasons, however, this data remains stuck in silos. Conventional approaches to aggregating healthcare information for impact in research and population health management have been plagued with the business, structural and regulatory conflicts of obtaining and using data. If this data could be accessed and used by a broader community, it could provide price transparency, anonymized data for research and cures, and limit societal medical costs related to fraud and abuse.
As Dershem stated in a recent interview with Becker’s Hospital Review, a pragmatic approach to how blockchain could affect the future of payment transactions in the healthcare industry, “…is to build hybrid architectures that use legacy database structures with introduction of distributed ledger technologies. This provides a platform where blockchain technologies can be tested and trusted.”
With the rise of new technology, MAPay’s mission is to place healthcare records on its permissionable multi-node blockchain for secure patient-driven use, as well as utilizing this information to impact population health management. For the first time, patients will be able to authenticate themselves into the healthcare ecosystem, not the other way around.
Despite the fact that interoperability between these has existed in the industry since the advent of the Commodore computer, until now, these records have been hard-siloed off into institutional and/or business structures that did not communicate with one another. In addition, patients are often granted little or zero access to their own medical records.
“This is no longer a technology issue but rather, a business and regulatory issue. Our doctrine on blockchain driven by the patient may be the answer to getting to the trends shaping the discussion of population health management, dynamic diagnosing as well as fraud and abuse,” says Dershem.
“MAPay has a proprietary technique to aggregate financial, clinical and contextual data through an individual patient-provisioned methodology. I’ve yet to see anything as transformational as what Dersh and his team have created. Physicians and other healthcare providers will have access to information never before available to drive more customized and effective interventions to treat patients leading to better population health and outcomes,” says Jenny A. Witthoff, VMD MS, a global health researcher and adjunct professor at Georgetown University.
MAPay has already gained plaudits and recognition for its novel payment technology. The firm is working in collaboration with leading organizations focused on interoperability; has been in discussions with several major US hospital systems for onboarding; and has been in conversations with multiple practice management systems. The company is poised to announce global partnerships with two top-tier technology services and consulting firms, as well as a full-scale international deployment on a countrywide basis of its platform. This will be the first of its kind for any fintech firm in the world.
“If we can reduce global healthcare transactions cost by even 10 percent, that would free up nearly $1 trillion dollars,” Dershem said at the recent HealthFurther conference in Nashville. That would go a long way to providing vaccines in developing geographic regions, access to care in urban health deserts, and orphan drug research. Not a bad day after all.”
SOURCE MAPay, LLC
Fintech PR
Cognoa Advocates for Expanded Insurance Coverage of Canvas Dx as CDC Reports 1 in 31 Children Now Identified with Autism
Recent CDC data reveals significant regional disparities in autism identification, highlighting the need for standardized, accessible diagnostic approaches nationwide.
PALO ALTO, Calif., April 17, 2025 /PRNewswire/ — In response to yesterday’s Centers for Disease Control and Prevention (CDC) report revealing that autism spectrum disorder now affects 1 in 31 U.S. children, Cognoa is calling for expanded insurance coverage of evidence-based diagnostic tools to address significant nationwide disparities in timely autism identification.
The CDC’s latest data highlights substantial regional variations in autism diagnosis rates, ranging from 1 in 19 children in California to 1 in 103 in Texas, reflecting inconsistent access to evaluation services and underscoring the urgent need for standardized, accessible diagnostic approaches across all communities.
“These new findings confirm what many healthcare providers and families have experienced firsthand – there is an urgent need for equitable access to early, objective autism diagnosis,” said Dr. Sharief Taraman, pediatric neurologist and CEO of Cognoa. “With research consistently showing better outcomes for children who receive timely support, we must work collectively to remove barriers to early identification.”
Addressing Critical Diagnostic Delays
The current diagnostic pathway often requires families to wait months or even years to receive an autism evaluation from specialists. According to clinical data, the average time from initial concern to diagnosis remains approximately three years – a critical developmental window during which evidence-based interventions can have their greatest impact.
Canvas Dx, developed by Cognoa, is the first FDA-authorized diagnostic aid that enables primary care clinicians to deliver an autism evaluation for children ages 18 months to 6 years, potentially reducing wait times from months to days. This technology supports healthcare providers in making more timely diagnostic decisions, helping families access appropriate support services much sooner.
Collaborative Approach to Improving Access
Cognoa encourages multiple stakeholders to take action to help more children access timely diagnosis:
For Healthcare Providers:
- Consider implementing objective diagnostic aids like Canvas Dx to supplement clinical judgment when evaluating children for developmental concerns
- Discuss available diagnostic options with families who express developmental concerns
For Health Insurers:
- Review coverage policies for FDA-authorized diagnostic aids for autism to ensure alignment with clinical best practices
- Consider the downstream cost savings and improved outcomes associated with earlier intervention and support
For Families:
- Discuss developmental concerns promptly with healthcare providers
- Ask about available diagnostic approaches, including technology-enabled tools that may accelerate the evaluation process
For Policymakers:
- Support initiatives that expand access to timely autism identification in underserved communities
- Consider how Autism CARES Act funds might address diagnostic bottlenecks in the healthcare system
“Early identification and appropriate support can significantly improve developmental trajectories for children on the autism spectrum,” said Dr. Taraman. “Several forward-thinking insurers and Medicaid programs have already recognized the value of covering tools like Canvas Dx, and we encourage others to join them in making early, accurate diagnosis accessible to all families.”
About Cognoa
Cognoa is dedicated to transforming pediatric behavioral health through innovative, AI-powered solutions. Canvas Dx is the first FDA-authorized diagnostic aid enabling primary care clinicians to perform earlier, objective autism evaluations for children ages 18 months to 6 years.
Contact:
Emily Delong
Emily.delong@cognoa.com
+1 650-206-9273
View original content:https://www.prnewswire.co.uk/news-releases/cognoa-advocates-for-expanded-insurance-coverage-of-canvas-dx-as-cdc-reports-1-in-31-children-now-identified-with-autism-302431673.html
LONDON, April 17, 2025 /PRNewswire/ — Wirex, a global leader in digital payments and Web3 money solutions, has been selected as a finalist for the “Compliance Culture Initiative of the Year” at the International Compliance Association (ICA) Compliance Awards Europe 2025.
Wirex’s nomination is a direct result of its strategic investment in a compliance-first culture, supported by an experienced global compliance team and enterprise-grade risk management systems.
Pavel Matveev, Co-Founder of Wirex, commented: “Wirex was founded on the belief that financial freedom should go hand in hand with regulatory responsibility. To meet this aim, we created a compliance culture designed to meet today’s global standards—and to anticipate tomorrow’s. Being named a finalist is a testament to our team’s dedication to building a resilient and trustworthy financial ecosystem.”
With more than 6 million users worldwide and a suite of regulated digital asset services, Wirex continues to set the benchmark for how fintechs can scale responsibly while maintaining rigorous compliance standards.
Dmitry Lazarichev, Co-Founder of Wirex, added: “A strong compliance culture is foundational to any sustainable fintech business. Wirex is confident that we can grow in a safe and sustainable manner with regulatory foresight and a deep respect for the frameworks that protect consumers and institutions alike.”
Wirex is regulated in multiple jurisdictions including the UK, EU, and APAC regions, and holds licenses from the UK Financial Conduct Authority (FCA), the Monetary Authority of Singapore (MAS), and other respected regulators. The company also upholds industry-leading standards in regulatory compliance including within AML, CTF, Sanctions and fraud detection.
“This nomination validates the comprehensive and strategic work we’ve undertaken to strengthen compliance across Wirex’s global footprint,” said Chet Shah, the Global Chief Risk & Compliance Officer at Wirex. “Rather than treating compliance as a back-office function, we’ve embedded it into the fabric of our business—from executive decision-making to product design. Our initiative empowers teams company-wide to understand and champion compliance, helping us operate ethically while enabling innovation at scale. How we manage Risk and Compliance in Wirex is now a competitive advantage.”
Hosted by the ICA, the annual awards celebrate excellence, collaboration, and innovation in the compliance and financial crime prevention sectors. The judging panel comprises some of the most respected figures in the industry, including:
- Lisa Bennett, Legal Compliance Director, Mastercard
- Caroline Braddock, Civil Ethics and Compliance Officer, Rolls-Royce
- Samer Jannoun, Head of Regional Ethics and Compliance Special Oversight, Meta
- Dane Pedro, Presiding Justice and Magistrate, Ministry of Justice, UK
- Chris Watkins, Head of Compliance & ESG, Renewable Power Capital
- Ben Westwood, Head of Compliance & DPO, Motor Insurers Bureau
Winners will be announced during a gala ceremony at the Park Plaza Westminster in London on 26 June 2025.
About Wirex
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
| wirexapp.com |
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Fintech PR
Digital Oilfield Market is expected to generate a revenue of USD 38.09 Billion by 2031, Globally, at 5.31% CAGR: Verified Market Research®
Verified Market Research® a leading provider of business intelligence and market analysis is thrilled to announce the release of its comprehensive and authoritative report on the, “Digital Oilfield Market Size and Forecast,” The Digital Oilfield Market is expanding as energy companies accelerate automation and adopt real-time data systems to improve operational efficiency. However, data security concerns, high implementation costs, and lack of skilled personnel continue to challenge broader adoption across the industry.
LEWES, Del., April 17, 2025 /PRNewswire/ — The Global Digital Oilfield Market Size is projected to grow at a CAGR of 5.31% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 25.18 Billion in 2024 and is expected to reach USD 38.09 Billion by the end of the forecast period.
The Digital Oilfield Market is witnessing steady growth driven by increasing demand for smart oilfield solutions, growing investments in IoT infrastructure, and the need for efficient oil recovery methods. The market caters to both upstream and midstream oil & gas segments.
Key Highlights of the Report:
- Market Size & Forecast: In-depth analysis of the global Digital Oilfield Market size, forecasted to grow significantly through 2031.
- Segmentation Analysis: Coverage by Application, Solution, Process, and Region.
- Regional Insights: North America leads due to advanced infrastructure and adoption of digital technologies in oilfields.
- Competitive Landscape: Profiles and strategies of key players like Schlumberger, Halliburton, Weatherford, and Emerson Electric.
- Technology Trends: Exploration of IoT, AI, big data, and cloud integration in oilfield operations.
- Challenges Covered: Analysis of cybersecurity risks, implementation barriers, and workforce gaps.
Why This Report Matters?
This report offers decision-makers a detailed look at technological advancements and challenges in the oil & gas sector. It equips B2B buyers, industry strategists, and investors with actionable insights to drive digital transformation in their operations and improve ROI.
Why You Should Read This Report:
- Oil & Gas Companies looking to digitize their operations
- Energy Sector Investors & VCs targeting tech-led ventures
- IT & Automation Firms offering oilfield solutions
- Market Research Professionals tracking industrial digitization
- Government Agencies & Policy Makers focusing on energy innovation
For more information or to purchase the report, please contact us at: https://www.verifiedmarketresearch.com/download-sample?rid=5739
Browse in-depth TOC on “Global Digital Oilfield Market Size“
202 – Pages
126 – Tables
37 – Figures
Report Scope
|
REPORT ATTRIBUTES |
DETAILS |
|
STUDY PERIOD |
2021-2031 |
|
BASE YEAR |
2024 |
|
FORECAST PERIOD |
2024-2031 |
|
HISTORICAL PERIOD |
2021-2023 |
|
UNIT |
Value in USD Billion |
|
KEY COMPANIES PROFILED |
Weatherford, National Oilwell Varco, Schlumberger, Halliburton, BHGE, ABB, Emerson, Rockwell, Siemens AG, CGG, Kongsberg |
|
SEGMENTS COVERED |
|
|
CUSTOMIZATION SCOPE |
Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
Global Digital Oilfield Market Overview
Market Driver
Rising Demand for Real-Time Data Analytics: The increasing demand for real-time data in upstream oil and gas operations is driving the adoption of digital oilfields. It facilitates predictive maintenance, minimises non-productive time, and enhances decision-making. As organisations pursue operational excellence and data-driven initiatives, real-time analytics solutions are increasingly vital for optimising performance, efficiency, and return on investment in exploration and production activities.
Increasing Focus on Operational Automation: Oil and gas corporations are emphasising automation to diminish operational expenses, enhance safety, and augment production efficiency. Digital oilfield technologies, like AI-driven drilling, automated processes, and remote asset monitoring, are revolutionising conventional procedures. The push for autonomous operations is driving adoption, particularly in areas with developed oilfields and a strategic emphasis on enhancing energy production economics.
Growing Investment in IoT and Cloud Technologies: The amalgamation of IoT devices, sensors, and cloud platforms is transforming oilfield operations. Intelligent fields today depend on interconnected systems for efficient data acquisition, surveillance, and remote management. These technologies facilitate improved decision-making, reduce downtime, and augment asset visibility. As major oil companies spend substantially in digital transformation, the demand for scalable and interoperable digital oilfield systems is experiencing considerable growth.
To Purchase a Comprehensive Report Analysis: https://www.verifiedmarketresearch.com/select-licence?rid=5739
Market RestraintHigh Initial Implementation Costs: Implementing digital oilfield solutions necessitates significant initial investment in IT infrastructure, edge computing, and system integration. Smaller operators may encounter financial limitations, hindering timely adoption. The ROI timeline, coupled with market price volatility, complicates cost justification for enterprises, particularly in areas where capital spending is already closely monitored due to variable oil prices and ambiguous energy policy.
Cybersecurity and Data Privacy Concerns: The heightened digitisation of oilfields renders them more vulnerable to cyberattacks, viruses, and data breaches. Operators are focused on safeguarding essential operating data and preserving system integrity across distant assets. A solitary breach can result in significant downtime or production losses. This risk renders firms prudent, frequently postponing or reducing digital transformation initiatives unless supported by strong cybersecurity standards.
Shortage of Skilled Workforce and Technical Expertise: The use of digital oilfield technologies necessitates specialised knowledge in fields such as artificial intelligence, internet of things, big data analytics, and cloud architecture. A significant number of oil-producing regions are experiencing a talent shortage. While hiring from the outside adds additional expenses, training internal personnel requires both time and resources. The restricted availability of qualified individuals slows down implementation, inhibits solutions from being used to their full potential, and presents a challenge to both the expansion of digital capabilities and the scalability of infrastructure over the long run.
Geographical Dominance
The Digital Oilfield Market is dominated by North America due to the region’s advanced oilfield infrastructure, early acceptance of technology, and significant investments in automation and analytics. The shale boom in the United States and the growing emphasis on improving production efficiency have both contributed to the acceleration of digital integration, which has positioned the region as a centre for innovation. These leading energy companies and technology providers further reinforce North America’s leadership position in the oil and gas industry by pushing digital transformation across the industry.
Key Players
The “Global Digital Oilfield Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Weatherford, National Oilwell Varco, Schlumberger, Halliburton, BHGE, ABB, Emerson, Rockwell, Siemens AG, CGG, Kongsberg.
Digital Oilfield Market Segment Analysis
Based on the research, Verified Market Research has segmented the global market into Application, Solution, Process and Geography.
• Digital Oilfield Market, by Application
o Onshore
o Offshore
• Digital Oilfield Market, by Solution
o Hardware Solution
o Software & Service Solutions
o Data Storage Solutions
• Digital Oilfield Market, by Process
o Safety Management
o Reservoir Optimization
o Production Optimization
o Drilling Optimization
• Digital Oilfield Market, by Geography
o North America
§ U.S
§ Canada
§ Mexico
o Europe
§ Germany
§ France
§ U.K
§ Rest of Europe
o Asia Pacific
§ China
§ Japan
§ India
§ Rest of Asia Pacific
o ROW
§ Middle East & Africa
§ Latin America
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Global Oil and Gas Software Market Size By Software Type (Exploration and Production (E&P) Software, Field Development Software, Production Software, Reservoir Management Software, Drilling and Well Construction Software, Asset Integrity Software, Pipeline Management Software, Supply Chain Management (SCM) Software, Geographic Information System (GIS) Software), By Deployment Model (On-Premises, Cloud-based, Hybrid), By End User (Oil Companies, Gas Companies, Oilfield Services Companies, Engineering, Procurement, and Construction (EPC) Companies), By Geography, And Forecast
Top 7 Oil And Gas EPC Companies leading energy projects
Visualize Digital Oilfield Market using Verified Market Intelligence -:
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With a team of 500+ Analysts and subject matter experts, VMR leverages internationally recognized research methodologies for data collection and analyses, covering over 15,000 high impact and niche markets. This robust team ensures data integrity and offers insights that are both informative and actionable, tailored to the strategic needs of businesses across various industries.
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