Harnessing the Power of MediLedger Integration for Revenue Management and ERP Systems
In today’s dynamic business environment, the ability to integrate various systems efficiently is a key success driver. At MediLedger, we understand the importance of this integration and have developed a blockchain network that can seamlessly integrate with your existing Revenue Management and ERP systems. This integration is not just about connecting systems; it’s about creating a cohesive, efficient, and effective business process that can drive growth and profitability. Our integration process involves specific modules that work in harmony with your Revenue Management and ERP systems, designed to address your unique business needs and challenges.
Approaches to Integration with MediLedger
The integration method chosen for each customer will depend on their system, infrastructure, and resource availability. There are two primary options available for integration:
- Connector: This is a microservice with a set of queries designed to pull the required data from the Revenue Management system. It utilizes database views to ensure the right scope of data is queried. The connector is used to integrate with different versions of Model N, such as Model N Flex and Model N Powered by N. It supports integration with both Cloud and On-Prem instances, and only new and updated data will be pulled, referring to the last successful run.
- Rest APIs: These are used to integrate with other Revenue Management or ERP systems such as SAP, Vistex, iContracts, etc. Every node exposes a set of REST APIs that can be used for integration, handled using HTTP Post requests. Customers are expected to develop a solution against MediLedger API specifications to Post.
How Data is Integrated with MediLedger
The integration of MediLedger with your Revenue Management or ERP system involves the evaluation and management of various data points. These include:
- Customers: Evaluating new customers and managing existing ones.
- Contracts: Managing contract headers, contract pricing/products, and contract customers.
- Chargeback Claims: Providing powerful contract research and easy chargeback error/dispute resolution.
The data points pulled from the RM/ERP system include:
- Customer Data Points: Customer ID, Customer Class(es) of Trade, Customer Name, Customer Address(es), Customer Identifier(s), Customer Start/End Date(s), and more.
- Contract Data Points: Contract ID, Contract Name/Description, Distributor Name(s), Distributor Identifier(s), Contract Entity Name(s), Contract Start/End Date(s), and more.
Goals of Implementation
MediLedger’s implementation approach is driven by several key goals that are focused on maximizing the value and effectiveness of the integration. These goals guide the entire implementation process and ensure a successful integration of MediLedger with your Revenue Management and ERP systems:
- Understanding Customer Needs: The first goal of the implementation process is to thoroughly understand your specific business processes, challenges, and requirements. By working closely with your team, we aim to gain deep insights into your existing workflows and identify opportunities where MediLedger can address your unique needs. This enables us to tailor the integration to fit seamlessly into your business ecosystem.
- Alignment with Value Metrics and ROI: We aim to align the implementation of MediLedger with your value metrics and Return on Investment (ROI) expectations. By identifying the key performance indicators that are important to your business, we can ensure that the integration delivers measurable value. Whether it is revenue growth, operational efficiency, cost savings, or improved customer satisfaction, our goal is to align the integration with your strategic objectives.
- Real-Time Data Transmission: MediLedger is designed to facilitate real-time data transmission between trading partners. Our goal is to spin up the MediLedger platform and establish seamless data connectivity with your trading partners. By enabling real-time data exchange, you can improve collaboration, streamline processes, and reduce delays in contract alignment, dispute resolution, and chargeback accuracy.
- Defect-Free Implementation: Prior to going live, our implementation team works diligently to uncover, document, and resolve any defects or issues in the integration. Our goal is to ensure a defect-free implementation by thoroughly testing the integration, validating its functionality, and addressing any identified issues. This rigorous approach guarantees a smooth transition to the MediLedger platform without disruptions to your business operations.
- Customer Feedback and Continuous Improvement: At MediLedger, we value customer feedback and view it as a crucial element in our product development process. Throughout the implementation, we actively seek and capture your feedback to understand how MediLedger can better fit your needs. Your input and suggestions are invaluable in driving continuous improvement and enhancing the functionality of the integration over time.
- Seamless Backend System Integration: Our goal is to build a seamless data connection between MediLedger and your backend systems. By integrating customer data, contract information, pricing details, and other relevant data points, we ensure that MediLedger becomes an integral part of your existing infrastructure. This seamless integration enhances data accuracy, streamlines processes, and eliminates manual data entry, leading to increased efficiency and reduced errors.
By aligning our implementation goals with your business objectives, we strive to deliver a MediLedger integration that exceeds your expectations and empowers your organization with enhanced revenue management capabilities, improved operational efficiency, and greater visibility into your business processes.
The Implementation Timeline
We follow a structured and comprehensive process divided into several phases. Each phase is carefully designed to ensure a successful integration and a smooth transition to utilizing the MediLedger platform. Here is an overview of the key implementation phases:
- Project Initiation & Analysis (~ 2–4 weeks):
During this phase, the project is initiated, and a thorough analysis is conducted to understand your specific business needs and requirements. The key activities in this phase include:
- Delivering and signing the Statement of Work (SOW) that outlines the project scope, objectives, and deliverables.
- Conducting an implementation kick-off meeting to align stakeholders and set expectations.
- Assigning dedicated project resources and forming a cross-functional implementation team.
- Delivering documentation related to the implementation process, requirements, and timelines.
2. Design (~ 3–6 weeks):
In the design phase, the focus is on designing the integrations, technical specifications, and defining the future business processes with MediLedger. This phase involves collaboration between your team and MediLedger experts. The key activities in this phase include:
- Documenting and reviewing your business processes to understand the current workflow and identify areas for improvement.
- Designing integrations that enable seamless data exchange between your Revenue Management or ERP system and MediLedger.
- Defining technical specifications and requirements for the integration, ensuring compatibility and optimal performance.
- Building and documenting the test and cutover plan, which outlines the steps for testing and transitioning to the MediLedger platform.
- Considering and selecting initial trading partners for real-time data transmission.
3. Build (~ 4–6 weeks):
The build phase focuses on implementing the necessary infrastructure and configuration required for the integration. MediLedger experts work closely with your technical team to ensure a robust and efficient integration process. The key activities in this phase include:
- Implementing the necessary network and MediLedger integration technologies to establish a secure and reliable connection.
- Building and configuring the test and production nodes to enable data transmission and processing.
- Validating the deployed features and functionality to ensure they meet your specific business requirements.
4. Test (~ 4–8 weeks):
The test phase involves comprehensive testing of the integration to ensure its reliability, accuracy, and adherence to business rules. It includes both internal testing and business user testing. The key activities in this phase include:
- System Integration Testing (SIT): Internal testing and validation of the integration to ensure it functions as intended.
- User Acceptance Testing (UAT): Business users participate in testing and validating the integration, including data sharing and validation with trading partners.
- Tracking, documenting, and resolving any defects or issues identified during testing to ensure a high-quality integration.
5. Go Live (~ 2–4 days):
The go-live phase marks the final stage of implementation, where the MediLedger integration is deployed for production use. The key activities in this phase include:
- Final verification and validation by business users to ensure all requirements are met.
- Going live with selected trading partners, initiating real-time data transmission and collaboration.
- Overview and handoff of ongoing support and maintenance from the MediLedger team.
Throughout the implementation project, regular communication, collaboration, and feedback are essential to ensure a successful integration. MediLedger experts work closely with your team to address any challenges, resolve issues, and provide ongoing support to ensure a smooth and seamless transition to the MediLedger platform.
By following a structured implementation approach, your business can harness the full potential of MediLedger integration, unlock operational efficiency, improve financial visibility, and achieve a competitive advantage.
Integrating MediLedger with Revenue Management and ERP systems can have a significant financial impact on your business. By streamlining processes and enhancing data accuracy, MediLedger integration can help drive revenue growth and improve financial performance. Here are some of the key financial benefits:
- Revenue Enhancement: MediLedger integration enables real-time contract alignment with trading partners, eliminating delays and misalignment that can lead to revenue leakage. Accurate contract communication and pricing accuracy reduce errors and improve claim adjudication, ensuring that chargebacks are enforced correctly. This leads to improved revenue capture and reduced revenue leakage.
- Operational Efficiency: With powerful contract research capabilities, MediLedger simplifies chargeback error and dispute resolution, reducing manual processing and saving time and resources. The automated handling of returns, credits, and re-bills reduces operational costs and minimizes revenue leakage caused by manual errors.
- Improved Financial Visibility: Through MediLedger integration, you gain comprehensive visibility into contract customers, products, and pricing in real-time. This allows for rapid search and easy access to contract history alignment between trading partners, facilitating effective dispute resolution and improved financial decision-making.
- Cost Savings: By eliminating the need for traditional EDI (Electronic Data Interchange) systems, MediLedger reduces infrastructure and maintenance costs associated with legacy integration methods. The streamlined integration process and automated chargeback accuracy enforcement also lead to cost savings by minimizing manual intervention and rework.
Overall, the financial impact of MediLedger integration is substantial, enabling revenue growth, operational efficiency, improved financial visibility, and cost savings. By harnessing the power of blockchain technology, your business can unlock new levels of financial performance and gain a competitive edge in the pharmaceutical industry.
Harness the power of MediLedger and unlock the full potential of your Revenue Management and ERP systems. Contact us today to embark on this transformative journey and elevate your business.
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