Cleveland Clinic, IBM, Aetna and Anthem partner to form blockchain firm Avaneer Health
The firm will boast a technological backbone that’s designed to support an array of platforms that reduce costs and accelerate care.
June 15, 2021 / Jeff Lagasse, Associate Editor
Major healthcare companies Cleveland Clinic, IBM, Aetna and Anthem have joined forces to create a new blockchain health firm, Avaneer Health, which will be housed in Chicao and work to use blockchain to increase efficiency in healthcare and reduce administrative costs.
The firm will boast a technological backbone that’s designed to support an array of platforms, which will then be used to reduce administrative costs, accelerate care and improve the overall patient experience, the companies said.
WHAT’S THE IMPACT
Avaneer Health grew out of the Health Utility Network, a consortium of companies serving the healthcare industry. With investments from Cleveland Clinic, Aetna, Anthem, IBM, Health Care Service Corporation, the PNC Financial Services Group and Sentara Healthcare, Avaneer is launching as a stand-alone business with overlapping patient populations.
Stuart Hanson will serve as CEO of the new venture. He’ll begin his tenure in August, where he’ll bring what the investing companies said is “a wealth of industry expertise and connectivity.” Hanson will join from his current role as managing director and senior healthcare industry executive at JPMorgan Chase.
At JPMorgan, his activities included driving a vision for the healthcare payments business and leading a strategic acquisition in 2019. Prior to this, Hanson held leadership positions at Change Healthcare, Citi and Fifth Third Bank.