US 2nd Largest Health Insurance Firm, Anthem, To Roll Out Medical Data On Blockchain in 2020
Blockchain adoption in the healthcare industry is marking yet another major milestone after Anthem, a U.S based Insurance giant, announced they will implement the tech for data security. The health insurance firm intends to store and secure the data of its 40 million clients in a permissioned digital ledger over the next three years.
According to a report by Forbes, clients whose data will be on-boarded on the blockchain network will have the rights of access and control of third-party viewing. Gail Boudreaux, the CEO of Anthem, noted that the innovation basically solves existing trust issues while speaking in New York during the Forbes Annual Healthcare Summit;
“What blockchain potentially gives us the opportunity to do is not worry about those trust issues. We have an opportunity now to share data that people can make their own decisions on.”
Anthem is currently running a pilot test of the permissioned network; participants can scan a QR code via an app and allow healthcare practitioners access to their data. Rajeev Ronanki, Anthem’s Chief Digital Officer, praised the move as transformative given it creates an opportunity for clients to own their data. As it stands, Anthem’s blockchain system roll out is scheduled for early 2020.
IBM, Anthem Partnership for Blockchain Designing
Earlier in the year, Anthem partnered with PNC Bank, Aetna and IBM to build a blockchain network for the healthcare industry. The innovation is meant to cut down administrative costs as well as reduce the duplication in functions within the existing ecosystems. PNC’s Chris Ward has also emphasized that blockchain is the solution to the friction in healthcare as of press date. This progress is part of a larger number of adoptions in the healthcare space which so far is largely improving due to emerging technologies.