Tuesday, February 5, 2019

Blockchain Collaborations in Health Care Continue to Grow


With three major health-care blockchain collaborations announced since November, the technology is heating up, experts tell AIS Health.
Only 12 to 18 months ago, blockchain work "was being done internally," but now "it's coming out of the lab and people are starting to talk about it publicly," says Kevin McMahon, executive director of emerging technology at SPR.
Michael Yetter, an advisory managing director in KPMG's health care and government solutions practice, says health care is "earlier on the adoption curve" than industries such as financial services. He says established blockchain initiatives in health care are expanding, "and the new ones are in my view more significant in their initial scale." Among them:
CVS Health Corp.'s Aetna business unit, along with Anthem, Inc., Health Care Service Corp. and PNC Bank, are teaming up with IBM on a blockchain network for multiple purposes. Members of the collaboration "intend to use blockchain to address a range of industry challenges, including promoting efficient claims and payment processing, to enable secure and frictionless healthcare information exchanges, and to maintain current and accurate provider directories," the companies said in a press release.
In December, Aetna and Ascension said they had joined the Synaptic Health Alliance's pilot project on blockchain. The project aims to apply the technology to improve data quality and reduce administrative costs associated with changes to provider demographic data.
In November, WellCare Health Plans, Inc. and Spectrum Health joined a new blockchain initiative aimed at simplifying professional credentialing.

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