Healthcare insurance companies Aetna, Anthem, HCSC, and non-profit healthcare organizations Sentara Healthcare and Cleveland Clinic have invested in and launched a member-based utility network venture alongside IBM and PNC Financial Services. The venture, Avaneer Health, aims to eliminate inefficiencies in the American healthcare system through blockchain solutions.
The insurance companies, IBM, and PNC had previously formed the Healthy Utility Network looking to drive digital transformation in the healthcare industry. The consortium’s initial projects included claims and payment processing, health data exchanges, and provider directories. Avaneer Health is an extension of the consortium.
For those not familiar with the US healthcare system, the central role of health insurance creates a significant amount of bureaucracy that blockchain can help address.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
