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Here's why PNC is teaming with IBM and others to streamline health care payments

Patty Tascarella
Here's why PNC is teaming with IBM and others to streamline health care payments

Pittsburgh’s biggest bank is teaming with insurers and tech giants to design and create a network using blockchain technology to improve transparency and interoperability in the health care industry and streamline the payment process. PNC Bank, part of PNC Financial Services Group Inc., is collaborating with Aetna, Anthem, Health Care Service Corp. and IBM on the initiative. This will also make it easier for the patient, payer and provider to handle payments, said Chris Ward, head of product, PNC Treasury Management, removing the friction, duplication and administrative costs that plague the health care industry, such as the volleying between insurer and hospital with patient caught in the middle.