Cheaper health insurance thanks to the blockchain

In the United States, Blue Cross Blue Shield has set up a blockchain consortium to solve the inefficiencies plaguing healthcare data sharing. The partnership, called the Coalesce Health Alliance, includes Humana, Aetna, UnitedHealthcare and Ascension. Zoë LaRock (Business Insider) explains that US payers could reap major savings from a blockchain-enabled data sharing framework. Insurers could slash administrative costs if they address healthcare data fragmentation and payers could reduce the amount they pay out in claims by empowering physicians with a cohesive view of patients’ medical history.