From Reactive to Proactive Data Management: Armas' Transformation with MediLedger
In the ever-evolving pharmaceutical landscape, leaders continuously seek out innovative solutions that address complex industry challenges. Corey Greco from Armas is no exception. In a recent interview with us, he opened up about the monumental strides Armas is making in managing the chargebacks process, thanks to their partnership with MediLedger.
"We have to work with a vision of what we want our industry to be and the problems we want to eliminate," Corey emphasized at the outset. This proactive mindset is evident in the partnership between Armas and MediLedger, aiming to streamline and innovate age-old transaction processes.
Corey touched upon a critical pain point, remarking, "It's a way to keep all of our different departments aligned on what prices we commit to, [and] what contracts we commit to." This challenge isn't exclusive to Armas. Many pharmaceutical manufacturers grapple with merely internal alignment, let alone alignment with trading partners and customers.
MediLedger's approach offers an innovative, refined solution. As Corey explained, "MediLedger is not just internal alignment, it's really external alignment. You could have the cleanest master data inside your four walls, but if your trading partners or customers can't access that and manage that or incorporate it quickly and easily, you're always going to be misaligned."
Armas' forward-thinking philosophy reflects in their eagerness to adopt new technology, with a firm belief in its potential benefits. Corey affirmed, "For us, it's a crossroads on where we are in growth. We have a tough time putting a lot of eggs in the EDI basket and continuing to do it in a manual way." With MediLedger, they envision a more efficient and automated future without delays and misalignments.
One of the prominent points of our discussion was the emphasis on patient-first service. Armas' dedication to ensuring timely delivery of medications and avoiding unforeseen costs or shortages is commendable. As Corey poignantly stated, "For Armas, our mantra is patient first. [Using MediLedger] is a way to make sure that our medication gets to patients consistently."
MediLedger was formed through unprecedented industry collaboration looking to tackle common problems together. As Corey put it, "We need to collectively work together to make the industry better." Through their membership in the MediLedger network, Armas is not just looking to solve their internal issues but is taking an active role in reshaping the entire industry's approach to data management and alignment.
As our insightful conversation with Corey drew to a close, it was evident that MediLedger and Armas' collaboration was more than just a strategic alliance. It's a shared vision, a mutual commitment, and a partnership paving the way for a brighter and more efficient future in the pharmaceutical industry.
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