– Cumberland, a healthcare consulting and services firm, has joined the MediLedger Project, an initiative of Chronicled to use healthcare blockchain to improve drug supply chain networks.
Chronicled is working with the healthcare and pharmaceutical industries to develop blockchain-based supply chain network based on open standards and specifications.
Cumberland was selected as a preferred integration partner because of its experience with contract and revenue management systems for pharmaceutical manufacturers, as well as its capacity to develop accelerators to support complex system implementation.
“We look forward to bringing our team’s expertise with pharma revenue management systems to help advance MediLedger’s industry-leading blockchain technology,” said Jeff Lee, managing partner of Cumberland’s Life Sciences Division. “It’s exciting to be involved in helping to simplify the complexities of the pharma supply chain through the use of cutting-edge blockchain technologies.”
The MediLedger Project is setting up a distributed healthcare blockchain network, which has so far developed a saleable returns drug validation protocol that provides full functionality, including global trade item number (GTIN) lifecycle management, product ownership transfer, and request and response messaging. In testing, the network displayed request and response times of less than 400 milliseconds.
MediLedger uses blockchain technology for three tasks. First, it stores synchronized public data so that everyone uses the same “source of truth.” Second, it maintains an immutable record of confidential transactions. Lastly, to ensure the integrity of the system, it uses smart contracts to enforce business rules and conduct transactions.
The project is making progress in creating a network and environment where rivals and trading partners can improve their business processes across the industry value chain.
Source: MediLedger Project
MediLedger said it is going live this month with a product verification system for saleable returns that meets Drug Supply Chain Security Act regulations set to take effect on November 27. The system is a combination look-up directory and verification routing service that can enable rapid responses between pharmaceutical wholesalers and manufacturers.
Only authorized companies can place their products in the lookup directory. MediLedger has also developed a feature that enables products that have been sold to other companies to transfer that accountability, even before the National Drug Code (NDC) changes.
MediLedger Project working group members include AmerisourceBergen, Genentech, Gilead, McKesson, Pfizer, and Premier. In addition to Cumberland, PwC is a project partner.
“Blockchain technology, in the context of MediLedger, ensures that there is one source of truth, and we can design it so only the license holder can create records for its own products, for example. This may seem like a simple illustration, but it is revolutionary,” said Chronicled CTO Maurizio Greco.