Blockchain for pharma retailers
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How blockchain can help pharma retailers to improve the value chain? Potential improvement areas and benefits.
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Pharma Blockchain Bootcamp Presentation
Pharma Blockchain Bootcamp presented by DisruptiveRx took place on November 16, 2016 in Edison, NJ. The event is the first to exclusively address #blockchain applications within the #pharmaceutical enterprise.
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2) Allowing real-time visibility into product handling and a high-assurance audit log to ensure contractual obligations are fulfilled, providing protection for consumers and brands.
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Blockchain technology provides benefits to the healthcare industry by creating secure, immutable patient records that multiple parties can access. It reduces insurance fraud by making records unalterable and prevents pharmaceutical theft by allowing drugs to be traced throughout the supply chain. Implementing blockchain can also facilitate data exchanges in clinical trials and positively impact a country's economy by transforming healthcare information exchanges.
Recommended
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- Understanding the landscape in the pharma and healthcare settings
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1) Creating an immutable record of product provenance and production techniques on the blockchain to verify certifications and prevent counterfeiting.
2) Allowing real-time visibility into product handling and a high-assurance audit log to ensure contractual obligations are fulfilled, providing protection for consumers and brands.
3) Enabling more efficient dispute resolution by unambiguously proving delivery details recorded on the blockchain and setting up smart contracts to automatically trigger penalties if conditions are violated.Pharma Presentation
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We created the innovator in suspicious order monitoring software. Our SOMLink is backed by 16 defensible algorithms and equips companies with the necessary tools to monitor and catch all orders of interest for prescription drugs. SOMLink is a suite of tools that uses statistical analysis to comply with Federal DEA 1301.74b regulation for controlled substances. SOMLink can be installed as a software or controlled in the cloud, and installs easily on the DEA's Registrant server for maximum compliance.
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The document discusses how blockchain technology can improve healthcare by enabling secure sharing of health information between providers and patients. It notes that an integrated electronic medical record platform is needed to connect provider ecosystems. Appointment scheduling is central to value exchange in healthcare. Solving scheduling problems creates the necessary infrastructure. Statistics show issues with the current referral process around compliance, wait times, and patient follow through. The company, Blockit, started by creating an OpenTable-like solution for referral scheduling and saw improvements in metrics. The strategy involves partnering with referral platforms to drive adoption and expand the blockchain network starting with appointments and expanding patient data capture and capabilities over time to open the platform for broader innovation.
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The global pharmaceutical industry is responsible for manufacturing medications from the ground up. From the research and development that goes into producing these drugs to the actual manufacturing, distribution, and marketing that goes behind a successful drug. There is no doubt that Pharmaceutical companies are very important for the benefit of all humanity and therefore command the overall revenue of over a trillion dollars. But the industry also suffers from a number of problems – from counterfeit drugs to intellectual property disputes. Let’s take a look at these problems in detail and see how blockchains can help the use of pharmaceutical drugs in the world.
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At present, a majority of market players are focused on developing blockchain solutions in segments like medical and health records, supply chain management, clinical trials, and billing and claims management. As tech companies continue to innovate healthcare-specific blockchain solutions, the industry is expected to witness significant development of decentralized patient records as a platform (dApp), which will offer ease of access and universal identities to patients.
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There's no shortage of technologies out there to help hospitals improve operations. But it may surprise you to realize how relatively untapped they often still are.
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This deck will provide you a high level overview of the State of the Market. We encourage you take part in a webinar with the full presentation on the topic from Matt Schuchardt on May 2nd at 2pm EST.
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The developed BLOCKCHAIN platform will be in the form of a decentralised database thereby providing licensees with a holistic robust supply-chain management tool that will ensure safe and seamless operations from the factory floor to the end-users door.
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The document discusses how blockchain technology can improve healthcare by enabling secure sharing of health information between providers and patients. It notes that an integrated electronic medical record platform is needed to connect provider ecosystems. Appointment scheduling is central to value exchange in healthcare. Solving scheduling problems creates the necessary infrastructure. Statistics show issues with the current referral process around compliance, wait times, and patient follow through. The company, Blockit, started by creating an OpenTable-like solution for referral scheduling and saw improvements in metrics. The strategy involves partnering with referral platforms to drive adoption and expand the blockchain network starting with appointments and expanding patient data capture and capabilities over time to open the platform for broader innovation.
How can blockchain transform the use of pharmaceutical drugs
The global pharmaceutical industry is responsible for manufacturing medications from the ground up. From the research and development that goes into producing these drugs to the actual manufacturing, distribution, and marketing that goes behind a successful drug. There is no doubt that Pharmaceutical companies are very important for the benefit of all humanity and therefore command the overall revenue of over a trillion dollars. But the industry also suffers from a number of problems – from counterfeit drugs to intellectual property disputes. Let’s take a look at these problems in detail and see how blockchains can help the use of pharmaceutical drugs in the world.
Publication eng-blockchain-for-food-traceability-and-control-2017
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At present, a majority of market players are focused on developing blockchain solutions in segments like medical and health records, supply chain management, clinical trials, and billing and claims management. As tech companies continue to innovate healthcare-specific blockchain solutions, the industry is expected to witness significant development of decentralized patient records as a platform (dApp), which will offer ease of access and universal identities to patients.
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To purchase the full report, write to us at info@netscribes.com
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Blockchain technology allows for a shared, distributed digital ledger that records every event involving a piece of data in connected blocks. This creates an immutable record that cannot be altered. Blockchain presents opportunities in healthcare such as improving supply chain management, drug verification, reimbursement, and clinical trials. However, there are also challenges to address around change management, privacy regulations, lack of interoperability, and uncertainties around public blockchains. Recommendations include funding proof-of-concept projects, offering financial incentives for adoption, raising awareness, building skills and expertise, and increasing academic research.
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'Now that you have all this data, what do you do with it?'
By now, everyone's got an EMR. And most providers are also making use of ancillary technologies to help harness patient data toward more efficient care and better outcomes. But many components of health IT are still surprisingly underused in the U.S. hospital market. "While the EMR market itself is pretty saturated, and usage has really improved since the HITECH Act, the challenge for hospitals and health systems is, now that you have all this data, what do you do with it?" says Matt Schuchardt, Director of Market Intelligence Solutions Sales at HIMSS Analytics.
There's no shortage of technologies out there to help hospitals improve operations. But it may surprise you to realize how relatively untapped they often still are.
HIMSS Analytics LOGIC keeps tabs on all manner of IT products, and its list of the tools with biggest positive growth potential points to where the market will be heading in the coming years.
This deck will provide you a high level overview of the State of the Market. We encourage you take part in a webinar with the full presentation on the topic from Matt Schuchardt on May 2nd at 2pm EST.
Sign up for the webinar through the HIMSS Learning Center here: http://ow.ly/10szOD
Blockchain and Competition – TULPULE – June 2018 OECD discussion
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This document discusses using blockchain for food traceability. It notes that consumers demand more transparency in the food supply chain but find food producers untrustworthy. Blockchain could address this by providing trust, transparency and tamper-resistance. A consortium blockchain from companies in the supply chain may be better than a public blockchain due to privacy needs. Several blockchain platforms are outlined as options. Challenges for adoption include integrating distributed systems and ensuring authentication of participants and compliance with privacy laws like GDPR. Several pilot projects are underway to explore blockchain for traceability.
Blockchain for Healthcare
Blockchain has the potential to address many challenges in healthcare, including interoperability, security, integrity, and universal access to patient data. It provides a distributed framework for managing patient identity and medical records while ensuring privacy. Key benefits include tamper-proof storage of data across all nodes, encryption to enhance data security, and smart contracts to automate access controls. The document discusses applications of blockchain for electronic health records and clinical research to improve data sharing and integration across healthcare organizations.
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Worried about the safety of your medications? This blog post dives deep into the world of pharmaceutical traceability software, the guardian angel of patient safety. Discover how this innovative technology combats counterfeit drugs, optimizes supply chains, and fosters regulatory compliance. Explore the exciting possibilities of blockchain, RFID, and barcoding, revolutionizing real-time tracking and verification in pharmaceuticals
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Visit us now at https://www.debutinfotech.com/blockchain-development-services
Building blockchain based Healthcare infrastructure with beyond block labs
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Everything in healthcare is driven by data, particularly confidential information about individuals, from patients’ medical histories to medicine formulas. If you have ever moved medical information or been involved in a dispute with your insurance company, you are well aware of the difficulty associated with transferring such data to Blockchain Transform Lifesciences.
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ConsilX is a blockchain startup developing a clinical trial management solution to address issues like enrollment delays, patient retention, and data integrity. Their platform uses blockchain and other technologies to enable eConsent management, patient engagement, supply management, and direct data collection from devices and patients. It aims to help with protocol compliance, efficiency, faster enrollment, and enabling virtual trials through features like immutability, timestamping, and smart contracts. The founding team includes executives with decades of experience in life sciences and healthcare.
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Discover the transformative potential of blockchain in healthcare with 6 essential use cases. Explore how blockchain is revolutionizing the industry.Konnected & Ogg Hc Functional Requirements And Architecture 4.12.2010
The document discusses a proposed software-as-a-service (SaaS) healthcare services model that would address problems in the US healthcare system by creating a smarter, more integrated system centered around the patient. It would do this by linking different parts of the healthcare industry through better data sharing and analytics to improve outcomes, reduce errors, and deliver higher quality care. The proposed SaaS application would focus on innovation, integration, analytics and custom reporting, security and compliance, and providing a unified view of patient information across healthcare organizations and providers. Developing such a system would require research, requirements gathering, and costs in the range of $1.75-3 million.
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Blockchain for pharma retailers
- 1. Blockchain for Pharma Retailers Ayantan Sikdar, CSCP August 2017
- 3. New Product Development & Innovation API Manufacturing Secondary Manufacturing Distribution (to Wholesaler/ Pharmacy) Patients Inbound Logistics Bulk Active Bulk Formulation Filling & Finish Packaging Outbound Logistics Pharma Value Chain
- 4. Source : ChainLink Research Schematic Representation of Pharma Value Chain
- 5. Counterfeit and sub-standard drugs which may affect public health Tracking and tracing of drugs in the value chain. Visibility is the key so that critical demand changes can be managed Provide excellent customer service while meeting cost management and inventory level targets Chances of companies developing direct-to-patient distribution channels Network choices (internal and external) along with robust distribution management for timely replenishment Use of POS data (can be E-prescribing) for supply chain planning Readiness with risk assessment and risk assessment capabilities Key Challenges for Pharma Retailers
- 6. Source : PwC Analysis Potential Improvement Areas for Pharma Supply Chain
- 7. Total cost to serve Supply reliability to customers From Fragmented to Interconnected Error free financial transactions Cryogenic capabilities/ specialized facilities Managing ever growing no. of SKUs Access to data about medicines at transit Timely alerts and notifications Product serialization & track and trace regulations Suppliers (and their suppliers) Production network (internal and external) Warehouse/ logistics partners Hospitals/ pharmacies/ physicians Patients Note: Indicative List Potential Improvement Areas for Pharma Retailers
- 8. • Track all of the transactions of each individual medication product • Identify the party responsible for introducing counterfeit drugs in supply chain • Send alerts when any party ships more medical products than it legitimately owns Counterfeit drugs • Proprietary transaction data is contributed to database • Digital signature by buyer and seller on each transaction record • Cybersecurity of sensitive data (demand, supply, pricing, contract etc.) Track and trace - Visibility • Develop scalable and integrated supply chain network • Data management with “single source of truth” – secure transparency • Data management of 3rd party service providers Network scalability How Can Blockchain Help? • Secure digital ledger for greater visibility into inventory • Reduce/ eliminate errors and frauds in inventory management processes Inventory management • Real time analytics with valuable insights • Reduce costs by removing overhead associated with middlemen and intermediaries • Improve operational efficiencies of Supply Chain Finance while procuring drugs Spend analysis • Blockchains establish a trusted trail verifiable in real time • Notification to appropriate parties for noncompliant events Regulations compliance
- 9. Thank You