Synaptic Health Alliance, a blockchain-based alliance by healthcare companies, announced that Aetna, a CVS Health business, and Ascension joined their pilot project. The alliance aims to use blockchain technology to address healthcare provider data issues.
The Alliance is exploring how blockchain technology could help to actively share data, improve data quality and reduce potential administrative costs associated with changes to healthcare provider demographic data. It will ensure that the most current healthcare provider information is available in related directories. With this, the customers will get the most accurate information when they need it.
It was in April this year that five healthcare providers joined together to announce the launch of the Synaptic Health Alliance pilot project. The alliance included Humana, MultiPlan, Quest Diagnostics, and UnitedHealth Group’s Optum and UnitedHealthcare.
Aetna serves more than 22 million medical benefits members, while Ascension is the largest nonprofit health system in the United States as well as the world’s largest Catholic health system.
As per Federal and state laws, health plans are required to maintain directories containing basic information about physicians and other healthcare providers. It is estimated that around $2.1 billion is spent annually across the healthcare system acquiring and maintaining provider data.
Blockchain technology has been widely used in different areas of healthcare industry.
In recent times, a blockchain-based system was introduced by Camelot Consulting Group for the management of sensitive medical data. South Korean biotech enterprise Macron and local tech firm Bigster jointly developed a medical big data ecosystem for the storage and secured transfer of sensitive genomic and personal information. In September, Taipei Medical University Hospital launched a blockchain-driven platform for better keeping of medical records.
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