Chronicled

Chronicled's MediLedger Network

Chronicled's MediLedger Network is a cutting-edge blockchain-powered platform designed specifically for the life sciences industry. It facilitates seamless data alignment and transaction accuracy between trading partners such as manufacturers, wholesalers, and Group Purchasing Organizations (GPOs). The decentralized nature of the network ensures that transactions are conducted directly between parties, eliminating intermediaries. This innovative approach not only enhances transparency but also fosters a more efficient and reliable trading environment.

MediLedger's Contracts & Chargebacks Solution

The MediLedger Network's flagship solution, Contracts & Chargebacks, offers a unified view of validated GPO membership, customer identifiers, and pricing contracts. This solution enforces chargeback business rules in real-time, drastically improving financial operations for manufacturers. By automating customer evaluation against aligned rosters and identity data, MediLedger ensures accuracy and efficiency in resubmissions. Additionally, the solution replaces traditional EDI messages such as 845, 844, and 849, further streamlining operations.

MediLedger's Impact on Financial Operations

MediLedger provides a suite of tools tailored for manufacturers that significantly enhance financial operations. By promoting contracts and chargebacks accuracy, the platform helps improve top-line revenue, reduce float times, and optimize Gross-to-Net (GTN) returns. The automation and real-time data capabilities ensure that financial transactions are accurate and efficient, contributing to a higher rate of return and overall profitability for businesses in the life sciences sector.

Benefits of MediLedger for Medical Surgical Companies

MediLedger offers specialized solutions for Medical Surgical companies, allowing them to streamline operations and enhance profitability. The platform ensures standardized product information, real-time updates on GPO rosters, and transparent contract pricing. By providing accurate pricing across all hospital system sites, MediLedger aids in reducing discrepancies and the need for costly credit rebills. This level of precision and efficiency is crucial for maintaining financial health and operational integrity in the medical surgical industry.

MediLedger's Achievements in 2023

MediLedger's 2023 Annual Progress Report highlights the network's significant achievements and innovations over the past year. One notable success is its collaboration with Baptist Health, where its blockchain technology has been instrumental in managing pricing across numerous sites and reducing discrepancies. This partnership has led to a decrease in costly credit rebills due to pricing errors, showcasing MediLedger's effectiveness in ensuring accurate and efficient financial operations within large healthcare systems.