MediLedger Network extends Blockchain-powered efficiency to hospital systems

by Arthur · May 23, 2023

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SAN FRANCISCO, May 23, 2023 (Newswire.com) –
MediLedger, the widely accepted blockchain network for the life sciences industry, today announces its expansion into hospital systems, providing a breakthrough solution that revolutionizes healthcare management and ensures accurate pricing across all sites. This new development further improves the coordination and synchronization of pricing data between Group Purchasing Organizations (GPOs), manufacturers, wholesalers and now hospital systems, increasing transparency and collaboration.

“MediLedger’s goal is to solve the long-standing challenges that hinder effective contract and pricing management in the healthcare industry,” said Vinod Lakhani, CEO of Chronicled, the network manager for MediLedger. “By expanding our network into hospital systems, we are fostering an environment where all parties can have real-time visibility into pricing communications, leading to increased efficiency and pricing accuracy.”

With this extension, hospital systems can publish lists directly to GPOs, manufacturers and wholesalers, ensuring correct pricing for all sites and simplifying the identification of pricing inaccuracies. This proactive management significantly reduces price discrepancies and audit complexity, thereby minimizing labor and associated costs.

In addition to streamlining processes and reducing costs, the MediLedger network is redefining the role of hospital systems in the industry ecosystem. By providing an innovative platform for communication and collaboration, hospital systems can play a more influential role in contract negotiations and pricing processes, ensuring more favorable outcomes.

“Today marks a big step forward for MediLedger and the entire healthcare sector,” concludes Lakhani. “By including hospital systems in our network, we are moving closer to a more transparent, efficient and collaborative healthcare industry.”

About MediLedger

The MediLedger Network is an industry-led, blockchain-powered network within the life sciences industry. Chronicled’s role is to provide management and build solutions on top of the MediLedger network to facilitate customization and enable automation between trading partners.

For more information, please visit www.chronicled.com.

Source: Chronicled