IBM: Joint medical giant, providing blockchain solutions for sharing sensitive data

time:2019-01-26 16:18:59

According to Coindesk's January 25 report, IBM is working with key players in the medical field to improve the way sensitive data is shared in the field and to improve the efficiency of medical claims and transaction processing, all of which are based on The blockchain ecosystem is implemented in the form of an ecosystem.

The partnership, Big Blue, is owned by Aetna Insurance (acquired by CVS Health, a drug and medical plan provider last November), medical plan provider Anthem, medical services company (the largest insurance company in the US) and PNC Bank. Join. These providers have provided nearly 100 million medical plans in total.


IBM said more members will join the medical public network in the coming months, including other medical organizations, healthcare providers, start-ups and technology companies.
Barbara Hayes, General Manager of Payments at IBM Watson Health, told CoinDesk:

IBM is a founding member of the partnership program, but each of these founding members has equal interests. This is important because there are a lot of waste in the presence of competitors in the medical system.
Hayes said that the transformation of industries such as healthcare means using data for insight and prediction, and eliminating waste or inefficiency. She said:
In the medical field, inefficiencies usually occur in the clinical and administrative areas, or when the system handles transactions, friction can occur, which can result in a poor customer experience.
Bill Lafontaine, general manager of IBM's intellectual property, added:
We will provide a Software Development Kit (SDK) and other ways to connect to the platform. We remain open-minded because many members bring in different technologies that they are already investing in, and they therefore get a faster return on investment.
Projects that compete with IBM

However, IBM is not the only technology company that is trying to use the unchangeability and transparency of blockchain to help isolated and fragmented healthcare industries. Other blockchain companies that are well-known in the medical field include Change healthcare, Hashed Health, Guardtime, Gem, and SimplyVital.

In such a highly competitive field, it is not surprising that IBM faces competition from some companies. For example, in April last year, the two largest health insurers, Humana and United Health Group, partnered with data providers Quest Diagnostics, Multiplan and Optum to launch a blockchain pilot.

Another medical blockchain called ProCredEx was also launched in November last year. It focuses on the storage and sharing of certificates for medical and dental practitioners and is expected to save time and costs within the industry.

Outside the healthcare sector, PNC Bank has unveiled its blockchain business, which will join the payment system xCurrent, which explores Ripple for cross-border transactions.

Chris Ward, PNC's director of financial management products, said in a statement that PNC's collaboration with IBM in medical care will make it easier for patients, payers and suppliers to handle the payment process, he added:

Using this technology, we can eliminate the friction, repetitive and management costs that plague the industry.