Key Takeaways from Cencora’s Second MediLedger Information Session

Juli Cooper
June 19, 2024
Blog Articles
June 25, 2024
June 25, 2024

Key Takeaways from Cencora’s Second MediLedger Information Session

In a recent follow-up session to their previous webinar, Cencora and MediLedger took another deep dive into their joint efforts to transform pharmaceutical transactions using blockchain technology. Building on the insights shared in their previous session, this event emphasized the significant benefits of blockchain and encouraged suppliers to join the MediLedger network, underscoring the push for technological innovation and improved operational efficiency.

Tackling Industry Challenges

The pharmaceutical supply chain is notoriously complex, often hampered by fragmented processes and the involvement of multiple parties maintaining separate records. This fragmentation leads to inefficiencies and errors. Cencora, in collaboration with MediLedger, aims to streamline these processes with blockchain technology, creating a unified source of truth accessible to all stakeholders and enhancing overall transparency.

A Call to Action for Suppliers

During the session, Cencora laid out a strong case for why suppliers should join the blockchain network. Adopting blockchain technology promises to streamline operations, reduce errors, and improve transaction transparency. Michael Connelly, Vice President of Contracts & Pricing at Cencora, highlighted the urgency and benefits of moving towards automation:

"Reducing manual effort is crucial. Having a system that manages rosters, memberships, and pricing for all parties has been a great solution, offering a single source of truth."

Connelly also discussed the future integration of the chargeback process within the network:

"Once we integrate the chargeback process into the network, there will be no more back and forth on denials. The chargeback must match the source of truth at the end of the day."

He shared his vision for the transformative impact this integration will have:

"Seeing the end-to-end process within one system of record and one source of truth will truly transform our operations and hopefully set us apart in the market."

Encouraging Technological Adoption

Cencora is urging its partners to embrace this technological shift. By joining the MediLedger network, suppliers can benefit from a more streamlined, transparent, and efficient supply chain. This not only boosts operational capabilities but also positions everyone for future advancements in an increasingly digital and interconnected market.

The follow-up session reinforced the benefits of blockchain technology in pharmaceutical supply chain management and called on suppliers to join the MediLedger network. Cencora is leading the charge in technological innovation within the pharmaceutical industry, ensuring all stakeholders benefit from increased efficiency and accuracy.

Watch the Full Sessions

If you missed the live follow-up session or want to revisit the discussions, you can watch the replay of the webinar to learn more about how blockchain can revolutionize your operations:

If you’d like to schedule a call with MediLedger for a detailed product demonstration, click here.

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