January 24, 2019 / 5:19 PM / 2 months ago

Aetna, other health insurers team up with IBM on blockchain project

Jan 24 (Reuters) - A group of health insurers including CVS Health Corp’s Aetna, have teamed up with IBM Corp to create a blockchain network aimed at cutting costs in the healthcare industry.

The companies intend to use blockchain technology, which allows the sharing of databases across a network of computers, for processing claims and payments and to maintain directories, they said in a joint statement.

Other companies involved in the project are health insurers Anthem Inc, Health Care Service Corp and financial services company PNC Bank. (Reporting by Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)

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