Blockchain built Avaneer Health network gets $50M boost from Aetna, Cleveland Clinic, others

The network uses FHIR and distributed ledger technology for payer-to-payer interoperability, prior authorization and more.

On Thursday, Avaneer Health announced new backing from several blue-chip healthcare organizations, who are committing $50 million in seed funding to the health network. The new funding comes from founding network participants including Aetna, Anthem, Cleveland Clinic, Health Care Service Corporation, PNC Financial and Sentara Healthcare, according to Avaneer Health. The network, founded by those participants and others this past year, is built using blockchain technology and uses HL7's FHIR specification to expand data access across healthcare organizations, with a focus on with payer-to-payer data exchange, eligibility and prior authorization. "Together, we're changing the paradigm of healthcare data flows with a secure network empowered by blockchain, FHIR and other leading technologies," said Skeen in a statement announcing the new funding for Avaneer.