IBM, Aetna, PNC Explore Medical Data Blockchain for 100 Million Health Plans

IBM is collaborating with a group of major players in the healthcare space to improve the way sensitive data is shared and make health claims and transactions more efficient - all in the form of a "Blockchain-based ecosystem."

Announced today, Big Blue is joined in this effort by Aetna, health plan provider Anthem, Health Care Service Corporation and PNC Bank.

These providers combined account for close to 100 million healthcare plans.

IBM said additional members will join the Health Utility Network in the coming months, including other health organizations, healthcare providers, startups, and technology companies.

Hayes said transforming industries such as healthcare means going after insights and advanced predictions using data and eliminating waste or inefficiencies.

IBM is far from the only tech firm trying to leverage the immutability and transparency of blockchain for the siloed and fragmented healthcare industry.

In April of last year, Humana and United Health Group, two of the largest health insurers, teamed up on a blockchain pilot.

Another healthcare blockchain called ProCredEx launched in November last year.

Outside of healthcare, PNC Bank has been public about its blockchain activities.

Chris Ward, head of product for PNC Treasury Management, said in a statement that the healthcare collaboration with IBM will make it easier for the patient, payer and provider to handle payments, adding,.