Key Takeaways from Cencora’s MediLedger Information Session

In a compelling webinar, Cencora and MediLedger unveiled their collaborative efforts to transform pharmaceutical transacting through blockchain technology. Cencora took this opportunity to explain the substantial benefits of blockchain and to encourage their suppliers to join the MediLedger network, emphasizing the drive towards technological innovation and operational excellence.

Unpacking Industry Challenges

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

Cencora’s Call to Action for Suppliers

During the webinar, Cencora made a compelling case for why suppliers should join the blockchain network. The adoption of blockchain technology promises to streamline operations, reduce errors, and improve transaction transparency. Michael Connolly, Vice President of Contracts & Pricing at Cencora, articulated the urgency and benefits of moving towards automation:

"How do we reduce manual effort? Having a system that's managing the rosters, the membership, and the pricing that really is for all parties has been a great solution for that, as well as the single source of truth."

Connolly highlighted the future integration of the chargeback process within the network as a critical development:

"What really excites me is [that] once we have the chargeback process integrated within the network, there will be no more back and forth on a denial. There's a source of truth, and the chargeback has to match that source of truth at the end of the day."

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

"Being able to see the end-to-end process within one system of record and one source of truth is truly going to transform everything that we're doing here as an organization and hopefully differentiate us in the market as we go forward."

Encouraging Technological Adoption

Cencora is actively encouraging 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 enhances operational capabilities but also positions all parties for future advancements in an increasingly digital and interconnected market.

The webinar not only highlighted the benefits of blockchain technology in pharmaceutical supply chain management but also served as a rallying call for suppliers to join the MediLedger network. Cencora is committed to leading the charge in technological innovation within the pharmaceutical industry, ensuring all stakeholders benefit from increased efficiency and accuracy.

Watch the Full Session

If you missed the live session or wish to revisit the insightful discussions, we encourage you to watch the replay of the webinar. Delve deeper into how blockchain can revolutionize your operations and consider the advantages of joining this transformative journey.

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

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