Chronicled utilizes blockchain technology to enhance trust and automate processes in the life sciences sector, specifically targeting contract management and chargeback reconciliation. By providing real-time updates and accurate pricing data, the platform reduces errors and inefficiencies, ultimately improving revenue and operational performance for manufacturers, wholesalers, and health systems.
Funding
$36.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
CCPASSSSFounders
Product
Problem
The pharmaceutical supply chain suffers from contract management inefficiencies and inaccurate chargeback processing, leading to revenue loss and operational overhead for manufacturers, wholesalers, group purchasing organizations (GPOs), and health systems. Discrepancies in pricing data, contract terms, and GPO rosters contribute to billing errors, delayed payments, and strained relationships between trading partners.
Solution
MediLedger offers a blockchain-based platform designed to streamline contract management and automate chargeback reconciliation within the life sciences industry. The platform provides a single source of truth for pricing, contracts, and GPO roster data, ensuring all stakeholders have access to real-time, accurate information. By automating the validation and reconciliation of chargebacks, MediLedger reduces errors, accelerates payment cycles, and improves gross-to-net (GTN) revenue. The solution fosters greater transparency and trust among manufacturers, wholesalers, GPOs, and health systems, leading to improved operational efficiency and stronger trading partner relationships.
Target Audience
The primary target audience includes pharmaceutical manufacturers, wholesalers, group purchasing organizations (GPOs), and health systems seeking to improve contract management and chargeback processing efficiency.
Features
- Blockchain-based platform ensuring data immutability and transparency across the supply chain
- Real-time updates to contract terms, pricing, and GPO roster information
- Automated chargeback validation and reconciliation processes
- Secure data sharing and access controls for authorized stakeholders
- Integration with existing ERP and supply chain management systems
- Standardized product information management
- Customer matching across partners