IBM, PNC, Aetna Forms Partnership To Improve Healthcare Service Delivery

February 14, 2019

IBM is partnering with top healthcare providers to improve the methods by which sensitive health-related data is shared using a blockchain-based system.

IBM has formed a partnership with top healthcare companies like Aetna to improve healthcare service delivery. They are also looking to ensure that health claims are clearly defined and transactions are efficiently carried out.

Partners in this deal include IBM; Aetna, acquired last November by pharmacy and health plan provider CVS Health; health plan provider Anthem; Health Care Service Corporation, the largest customer-owned health insurance provider in the U.S.; and PNC Bank. These healthcare providers account for almost 100 million healthcare plans.

IBM said they are expecting more members, such as health organizations, healthcare providers, and tech companies, to join the Health Utility Network in the months to come.

Barbara Hayes, IBM General Manager for Payers, said in a statement that although IBM is a major member of the partnership, everyone involved has equal stakes. To cause meaningful change in sensitive industries like healthcare, one has to have insights into important aspects like waste disposal, correct medical data records, etc., according to her statement.

Dr. Bill Lafontaine, IBM General Manager of Intellectual Property, said that IBM will provide the SDKs and other means needed to link the platform. He revealed that many of the partners will be bringing in different technologies in which they have already invested. This partnership would therefore allow them to get quicker returns on their investments.

Competing projects

IBM isn’t the only tech firm trying to utilize the transparency and immutability of blockchain technology in the healthcare sector.

Other important firms in the blockchain healthcare sector include Change Healthcare, Hashed Health, Guardtime, Gem, and SimplyVital. With the number of firms in the healthcare space, IBM is faced with a lot of competition.

PNC Bank, though not in the healthcare sector, has been relatively open about its blockchain technology dealings. Chris Ward, Head of Product for PNC Treasury Management, said the  partnership with IBM will make it easier for the healthcare providers, payers and patients to handle payments.

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Blockchain Enables Verification of COVID-19 Immunity
    Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

    November 21, 2020

    Illicit Cryptocurrency Activity: A Concern
    Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

    November 20, 2020

    IBM Using Blockchain to Help Businesses Reopen during COVID-19
    IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

    November 20, 2020

    Canadian Pacific Railway Collaborates with TradeLens
    Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

    November 19, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us