Two of the largest health insurance providers in the U.S. announced Monday that they would pursue a blockchain pilot aimed at improving the quality of healthcare data.

UnitedHealth Group and Humana – who are largely rivals in the health insurance industry – said that they would develop the pilot in cooperation with MultiPlan and Quest Diagnostics. UnitedHealth Group will participate through two of its subsidiaries, UnitedHealthcare and Optum.

According to a statement released by the companies involved:

It's not clear at this time whether the pilot would involve an existing platform or the development of a wholly new one. UnitedHealth and Humana did not immediately respond to requests for further information.

Still, the pilot is targeting a key pain point in the healthcare industry, data reconciliation, which according to one estimate costs as much as $2.1 billion in annual spending. And firms like UnitedHealth have eyed blockchain for potential applications in the past; last week, a group of insurers and reinsurers launched a new commercial venture that grew out of an existing consortium effort.

Health data image via Shutterstock