Synaptic Health Alliance Works with Kaleido to Solve Healthcare's Toughest Problems Through Blockchain Technology
Customer Company Size
Large Corporate
Region
- America
Country
- United States
Product
- Kaleido's blockchain platform
- Synaptic Health Alliance's provider data exchange
Tech Stack
- Blockchain
- Distributed Ledger Technology
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
- Innovation Output
Technology Category
- Application Infrastructure & Middleware - Blockchain
Applicable Industries
- Healthcare & Hospitals
Applicable Functions
- Business Operation
Use Cases
- Smart Contracts
- Regulatory Compliance Monitoring
Services
- System Integration
- Software Design & Engineering Services
About The Customer
The Synaptic Health Alliance was founded in 2017 and is a coalition of health care leaders collaborating to solve the industry’s toughest problems through emerging technology. Their objective is to create a blockchain powered platform that enables a culture of innovation, removes friction and solves the shared challenges impacting constituents across health care today. Synaptic’s founding members include Aetna, Humana, MultiPlan, Quest Diagnostics, UnitedHealth Group.
The Challenge
Managed care organizations, health systems, physicians, diagnostic information service providers and other healthcare stakeholders typically collect provider demographic data in separate IT systems maintained by each organization independently. This promotes vast inefficiencies and duplication of efforts, while also potentially reducing data quality. Industry estimates indicate that $2.1 billion is spent annually across the industry chasing and maintaining provider data.
The Solution
To address these challenges Synaptic Health Alliance created the first blockchain initiative in health care. It leveraged Kaleido's blockchain platform to create a provider data exchange—a cooperatively owned, synchronized distributed ledger to collect and share changes to provider data, starting with demographics. By using Kaleido's platform, Synaptic Health Alliance was able to work together with health care organizations such as Aetna, Humana, MultiPlan, Quest Diagnostics, and UnitedHealth Group to leverage blockchain technology to help ensure that data is accurate and sharable for reliable use across the health care ecosystem.
Operational Impact
Quantitative Benefit
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