IBM Medical Data Blockchain

To make this medical data blockchain project successful IBM has partnered with:

  • Aetna: CVS Health, a renowned pharmacy as well as the provider of health plan, acquired Aetna in November 2018.
  • Anthem: One of the leading providers of the health plan.
  • Health Care Service Corporation: USA’s largest customer-owned health insurance provider.
  • PNC Bank

This IBM-led project of creating medical data blockchain will secure data of around 100 million healthcare plans, which are catered by the above-mentioned providers. IBM has announced that this Health Utility Network will be joined by additional members in the coming months. The companies that will join this endeavor will include startups, healthcare providers, health organizations, technology firms, and many more.

General Manager of IBM for payers at IBM Watson Health, Barbara Hayes, said

“IBM is one of the founding members, but everybody has an equal stake across those founding members. It’s so important because you do have competitors side by side who are going after tremendous amounts of waste that is in the healthcare system; 40 cents, 50 cents on the dollar.”

Barbara Hayes went on to say that transformation of a huge industry like healthcare will need in-depth insights as well as advanced predictions. This process will require the use of proper data and elimination of wastage or inefficiency. She also stressed the fact that most of these inefficiencies in the healthcare industry are found in the clinical as well as administrative areas. In fact, bad computer experience can be faced due to system friction.

General Manager of intellectual property, Dr. Bill Lafontaine, added:

“We are going to provide the SDKs and other ways to link to the platform. We are leaving this very open because many of the members are bringing different technologies that they have already been investing in and so they get a faster return on that investment.”

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