Health insurance giant Aetna, and IBM are partnering to create a new medical blockchain network. Blockchain refers to a list of records—known as blocks—that are linked together using cryptography, making them resistant to modification of data.
Specifically, the blockchain will be designed to process insurance claims and payments, in addition to managing directories. Joining Aetna and IBM in the health tech collaboration will be non-profit Health Care Service Corp. and Anthem Inc. The organizations anticipate that incorporating blockchain technology into health insurance will result in the removal of friction, duplication, and administrative costs that are often problematic for the industry.
Aetna Inc. operates as a health care benefits company in the United States through three segments: health care, group insurance, and large case pensions. IBM is an American multinational technology company headquartered in Armonk, New York, with operations in over 170 countries.
This was reported by Coin Telegraph on January 25, 2019.
Contact Information: Aetna, Inc., 151 Farmington Avenue, Hartford, Connecticut 06156; (860) 273-0123; Website: www.aetna.com
Contact Information: IBM Corporation, 1 New Orchard Road, Armonk, New York 10504; (914) 499-1900; Website: www.ibm.com