Two US-based Insurance Giants Introduced Pilot For Blockchain

Two US-based Insurance Giants Introduced Pilot For Blockchain

Two major health insurance giants, Humana and UnitedHealth Group, in the US announced that they would soon adopt a pilot for blockchain with an objective to improve the efficiency and quality of healthcare data.

Both the companies who hold a strong rivalry in the insurance sector stated that they would create a pilot in association with Quest Diagnostics and Multiplan. UnitedHealth Group will take part in the development through two of its subsidiaries, Optum and United Healthcare.

As per the statement disclosed by the companies, “The introduction of blockchain pilot will help to analyze how data sharing across all health care organizations through blockchain technology can enhance the data precision, improve accessibility, and streamline administration.”

“However, it is yet to be clear that whether the pilot would be engaged in the existing platform or the whole new development will be carried out.”

Both the companies, Humana and UnitedHealth didn’t respond instantly on the request to send more relative information.

Data reconciliation is the key target of the healthcare industry and it has been a pain point as well. The cost associated to the process expenditure is estimated to $2.1 Billion annually. United Health have already emphasized on blockchain for the prospective applications.

Healthcare sector is aggressively looking ahead to adopt blockchain as the intricacy in the medical process are hectic to simplify.

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