Cigna, Aetna, Anthem and IBM are among the major insurers and tech firms backing a new blockchain venture announced Thursday.
The venture, called Avaneer Health, seeks to create a “seamless, end-to-end experience and eliminate the inefficiencies afflicting today’s healthcare system,” according to a statement.
Blockchain technology will help Avaneer improve the care experience by lowering costs and removing administrative barriers and inefficiencies that slow care delivery, according to the statement.
Startup investors in Avaneer include Aetna, Anthem, Cleveland Clinic, Health Care Service Corporation (HCSC), IBM, The PNC Financial Services Group, Inc. and Sentara Healthcare.
Stuart Hanson, currently managing director and senior healthcare industry executive at JPMorgan Chase, was named CEO of Avaneer.
“I’m excited for this opportunity to help solve healthcare’s biggest challenges,” Hanson said.
The company said it plans to unveil its products at the HIMSS Global Health Conference & Exhibition in Las Vegas in August.
The companies behind Avaneer first convened in 2020 as part of a consortium called Health Utility Network, formed to create a new vision for the U.S. health system.
