PNC, IBM team up with health insurers on blockchain project

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PNC Bank and IBM Corp have teamed up with a group of health insurers including CVS Health Corp’s Aetna to create a blockchain network that can cut costs in the health industry.

Others participating in the project include health insurers Anthem Inc, Health Care Service Corp. Their vision is to improve transparency and interoperability by helping firms in the industry to build, share and deploy changes that drive digital transformation.

Chris Ward, head of product, PNC Treasury Management: “This collaboration will enable healthcare-related data and business transactions to occur in way that addresses market demands for transparency and security, while making it easier for the patient, payer and provider to handle payments.”

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