IBM has recently announced a collaboration to develop a blockchain-based ecosystem for the healthcare industry. This brand new network will allow members to share resources and streamline payment processes, optimize claims processing, maintain current and accurate provider directories and implement efficient information exchanges.
Partners include Aetna, Anthem, Health Care Service Corporation and PNC Bank. The main goal is to drive digital processes and reduce fragmentation of information all over the industry. By developing a highly collaborative blockchain-based network, the companies plan to cut down burdensome task and redundant cost, along with boosting transparency and interoperability.
General manager for Healthcare and Life Sciences for IBM, Lori Steele had this to say,
“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 fact that these major healthcare players have come together to collaborate indicates the value they see in working together to explore new models that we think could drive more efficiency in the healthcare system and ultimately improve the patient experience.”
Chief Digital Officer of Anthem, Rejeev Rananki stated that a timely access to medical information has been a difficult roadblock.
“With a trusted foundation based on transparency and cryptography, we will provide a faster, safer and more secure way to exchange medical information to transform the consumer healthcare experience.”