MediLedger Network Extends Blockchain-Powered Efficiency to Hospital Systems

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

"MediLedger's goal is to solve the longstanding challenges that hinder efficient contract and pricing management in the healthcare industry," says Vinod Lakhani, CEO of Chronicled, the network custodian for MediLedger. "By extending our network to hospital systems, we're fostering an environment where all parties can have real-time visibility into pricing communication, leading to increased efficiency and pricing accuracy."

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

In addition to streamlining processes and reducing costs, the MediLedger network redefines the role of hospital systems within the industry ecosystem. By offering 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 signifies a major step forward for MediLedger and the entire healthcare industry," concludes Lakhani. "By incorporating hospital systems into our network, we're drawing 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 administration and build solutions on top of the MediLedger Network to facilitate alignment and enable automation between trading partners.

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

Source: Chronicled