A new coalition of health insurers, in collaboration with PNC Bank and IBM, announced a new blockchain initiative aimed at boosting transparency and interoperability, FierceHealthcare reports.
The group, which consists of Aetna, Anthem and Health Care Service Corporation, will look to utilize blockchain technology to tackle a number of challenges. Officials say that includes “promoting efficient claims and payment processing, to enable secure and frictionless healthcare information exchanges, and to maintain current and accurate provider directories,” according to the report.
IBM Intellectual Property General Manager Bill LaFontaine tells FierceHealthcare that the platform is already capable of supporting blockchain experimentation by the companies.
“This is a platform where our members can begin to test out what they are doing, and I think that’s going to accelerate innovation,” he said.
To read the full report on FierceHealthcare, click here.