IBM Partners with Aetna, Anthem, HCSC, and PNC Bank to Bring Blockchain to Healthcare
VCBeat (WeChat Official Account: vcbeat) has learned that IBM announced a new partnership with Aetna, Anthem, HCSC (Health Care Service Corporation), and PNC Bank on January 24 local time. The collaboration aims to design and create networks using blockchain technology to enhance transparency and interoperability in the healthcare industry. The purpose of this partnership is to establish an inclusive blockchain network, enabling the majority of participants in the healthcare ecosystem to benefit from a highly secure, shared environment.
Despite significant progress in the digitization of healthcare information, transparency and interoperability across various sectors of the healthcare system still require improvement. The application of blockchain technology can reduce errors and friction in healthcare administration, thereby enabling more efficient exchange of healthcare information. Once implemented, these improvements will help enhance the level of patient care in the healthcare industry and reduce unnecessary costs for patients.
“We are committed to improving the healthcare consumer experience and making our healthcare system operate more efficiently,” said Claus Jensen, Chief Technology Officer of Aetna. “By leveraging blockchain technology, we aim to enhance data accuracy for providers, regulators, and other stakeholders, while empowering our members with greater control over their own data.”
“At Anthem, we recognize the importance of driving change that will simplify the healthcare system for all Americans,” said Rajeev Ronanki, Chief Digital Officer at Anthem. “We view blockchain as an enabler of trust. Timely access to medical information has long been a stumbling block in creating a seamless consumer experience. Built on a cryptography-based foundation of trust, we will provide a faster and more secure way to exchange medical information, thereby improving the healthcare experience for consumers.”
Lori Steele, General Manager of IBM’s Healthcare and Life Sciences Division, stated, “The uniqueness of blockchain enables the rapid exchange of sensitive data in a transparent manner. The fact of this collaboration demonstrates that we see value in jointly exploring new models. We believe these new models can enhance the efficiency of healthcare systems and ultimately improve patient experience.”
IBM and Aetna, among others, are working to further define the initial use cases for health utility networks. This collaboration will add more members in the coming months, including other health organizations, healthcare providers, startups, and technology companies.
Aetna is a provider of healthcare decision solutions, offering information and resources to approximately 39 million people to help them make more informed healthcare decisions. Aetna provides consumer-oriented health insurance products and related services, including medical, pharmacy, dental, and behavioral health plans; medical management capabilities; Medicaid healthcare management services; workers' compensation management services; and health information technology products and services.
Anthem is one of the leading health benefits companies in the United States, committed to transforming healthcare delivery through trusted solutions. Anthem provides high-quality products and services that enable its members to access the care they need.
HCSC is the health insurer with the largest customer base in the United States and the fourth-largest health insurance company nationwide. It serves over 15 million members through its Blue Cross and Blue Shield plans in Illinois, Montana, New Mexico, Oklahoma, and Texas.
IBM is widely recognized as a leading enterprise blockchain provider. The company’s teams of experts in research, technology, and business have overcome barriers in transaction processing speed, developed state-of-the-art cryptographic technologies to secure transactions, and contributed millions of lines of open-source code to drive enterprise blockchain adoption. IBM is a leader in open-source blockchain solutions built for the enterprise. Since 2016, IBM has collaborated with hundreds of clients across sectors including financial services, supply chain, government, retail, digital rights management, and healthcare.
PNC Bank is one of the largest diversified financial services institutions in the United States, primarily offering commercial banking services. PNC Bank provides specialized services to corporations and government entities, including corporate banking, real estate finance and asset-based lending, wealth management, and asset management.