Generic Manufacturers Can Make BIG Changes with Blockchain Technology

Abstract

Blockchain technology has surfaced in the generic pharma arena addressing challenges associated with Contract Management, GPO interactions, and Chargeback adjudication. Manufacturers are now burdened with reducing overhead costs that impact the cost of each unit to get medication to patients safely, effectively, and efficiently. Blockchain technology can be used to enhance efficiencies in how partners interact including inventory management, sales data reporting, chargeback validations and rebate accruals.

Keywords

• blockchain technology
• generic pharmaceuticals
• contract management
• gpo interactions
• chargeback adjudication
• medication
• patient safety
• inventory management
• sales data reporting
• chargeback validations
• rebate accruals
• conv2x
• bhty