IBM, PNC Bank, Health Care Cos. to Collaborate on Blockchain

   By Stephen Nakrosis

International Business Machines Corp. (IBM) on Thursday announced a collaboration with PNC Bank and several health-care companies to create "a blockchain-based ecosystem for the healthcare industry."

Aetna, Anthem Inc. (ANTM), and Health Care Service Corp. will work with IBM and PNC to create a network using blockchain technology to improve transparency and interoperability in the health-care industry, IBM said.

The group hopes to address a number of challenges in the health-care industry, including secure information exchanges and efficient claims and payment processing.

IBM said the collaboration will add additional members in the coming months, including other health organizations, health-care providers, startups and technology companies.

Lori Steele, general manager for Healthcare and Life Sciences for IBM, said "The fact that these major health-care players have come together to collaborate indicates the value they see in working together to explore new models that we think could drive more efficiency in the health-care system and ultimately improve the patient experience."

PNC Bank is a division of PNC Financial Services Group Inc. (PNC). Aetna is a unit of CVS Health Corp. (CVS).

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 24, 2019 12:37 ET (17:37 GMT)

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