Healthcare industry giants Aetna, Anthem and Health Care Service Corp. along with financial services firm PNC Bank are in deal with IBM to design and develop a blockchain-powered platform to improve transparency and interoperability in the healthcare industry.
The platform aims to help in efficient claims and payment processing, secure and frictionless healthcare information exchanges, and maintaining current and accurate healthcare provider directories.
Using the technology,
administrative errors, friction, duplication, and administrative costs
that continue to plague the healthcare industry can be removed or
The solution will be built on the cloud-based IBM Blockchain Platform, powered by The Linux Foundation’s Hyperledger Fabric distributed ledger framework. Blockchain’s unique attributes make it suitable for large networks of members to quickly exchange sensitive data in a permissioned, controlled, and transparent way.
The group intends add additional members to the network in the coming months including other health organizations, healthcare providers, startups, and technology companies.
The platform is expected to provide transparency and security, while making it easier for the patient, payer and provider to handle payments.