Leading US healthcare companies have entered into an alliance to experiment with blockchain solutions to improve data quality and reduce costs, according to Modern Healthcare, the weekly February 3.
The Synaptic Health Alliance is comprised of Humana, Multiplan, Optum of UnitedHealth Group, UnitedHealthcare, Quest Diagnostics and has recently been joined by Ascension – the largest non-profit healthcare system in the US according to Modern Healthcare – and CVS Health-Aetna , which has estimated 22 million members.
According to Centers for Medicare and Medicaid Services, which analyzed the data provided between September 2016 and August 2017, at least half of the information on Medicare Advantage Organizations contained errors, which affect customers causing delays in medical services and can make them subject to fines.
Modern Healthcare writes that the alliance hopes that decentralized storage will maintain the most accurate information thanks to system security and the ability to track all copies almost in real time.
The article notes that health care providers spend up to $ 2.1 billion a year to archive data. Using a shared blockchain network for insurers, customers and suppliers, healthcare organizations could reduce operating costs, according to the Quest Diagnostics manager Lidia Fonseca.
In addition, Gerry Lewis, Ascension's Chief Information Officer, added that the blockchain could be further used to securely share clinical information with the parties involved in the process, writes Modern Healthcare.
As often reported by Cointelegraph, decentralized solutions are widely used in health care. Hospitals can use the blockchain to securely store patient data; for example, the hospital of the Taipei medical clinic in Taiwan and the main South Korean Myongji hospital are currently testing blockchain-based systems,
Blockchain can be used in other areas of health beyond hospitals.
In April, the German Camelot Consulting Group developed a blockchain-based solution for managing sensitive medical data. And in October, the software company and the former BlackBerry smartphone manufacturer launched a block based on the health sector.