Healthcare giants Aetna and Ascension have both joined the Synaptic Health Alliance to trial blockchain technology for improved data storage and quality.
Aetna, which is undergoing a proposed merger with pharmacy chain CVS, is one of the biggest health insurers in the US and serves an estimated 39 million people across the nation. Ascension is the largest faith-based nonprofit healthcare provider in the US and the largest Catholic health system in the world.
The Synaptic Health Alliance launched on April 2 with five members: Humana, MultiPlan, Quest Diagnostics, UnitedHealthcare, and Optum. It plans to "determine if applying blockchain technology can help ensure the most current information about healthcare providers is available." The project description notes that insurers currently maintain their own provider directories, with inaccuracies leading to delays in payment and lost revenue. The members hope that by utilizing a blockchain-based system, they can efficiently share data and remove inaccuracies.