US Insurance Giants UnitedHealth and Humana Launch Blockchain Pilot
Two of the nation's largest health insurers are looking to blockchain technology to reconcile data in the health care system.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JKV7TN7S7ZG5DBNUYAV3X5YQMY.jpg)
Two of the largest health insurance providers in the U.S. announced Monday that they would pursue a blockchain pilot aimed at improving the quality of healthcare data.
UnitedHealth Group and Humana – who are largely rivals in the health insurance industry – said that they would develop the pilot in cooperation with MultiPlan and Quest Diagnostics. UnitedHealth Group will participate through two of its subsidiaries, UnitedHealthcare and Optum.
According to a statement released by the companies involved:
It's not clear at this time whether the pilot would involve an existing platform or the development of a wholly new one. UnitedHealth and Humana did not immediately respond to requests for further information.
Still, the pilot is targeting a key pain point in the healthcare industry, data reconciliation, which according to one estimate costs as much as $2.1 billion in annual spending. And firms like UnitedHealth have eyed blockchain for potential applications in the past; last week, a group of insurers and reinsurers launched a new commercial venture that grew out of an existing consortium effort.
Health data image via Shutterstock
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.