Finally, 2017! For those of us involved in Blockchain Pharma initiatives, 2017 is going to be a very exciting and challenging year! The Pharma industry, which include Providers, Manufacturers, Wholesalers, 3PL and Retailers are working diligently to expand their Blockchain footprint by leveraging additional business units to utilize the Blockchain as a method to provide provenance, decentralization, immutability and audibility. In 2016, several Pharma business initiatives identified Regulatory and Compliance as the primary drivers for Blockchain solutions; however, more companies are understanding the true benefits of the Blockchain and realize the paradigm is shifting within Pharma.
Technology drives efficiency; there is no doubt about it. But as companies begin to understand and accept the technology landscape, more demand is being put on IT divisions to identify solutions that make their business processes more efficient; lower costs and provide greater functionality to users.
This is where the Blockchain strives! One thing that has become a common challenge is that companies lose visibility as the company grows. Alongside of the visibility challenge is the challenge of transparency. Solving these 2 challenges opens the door for the Blockchain. With the ability to render traceability and validation, pharma can now begin to manage on a global level with the efficiency management requires. And because the Pharma industry has become more knowledgeable about the Blockchain, companies have been able to identify more specific Use Cases such as:
- The Manufacturing Supply Chain
- Compound Libraries
- Biotech IP Management
- Inspection Readiness
- Patient Enrollment
- Clinical Kit Management
- Commercial Launch
There are still so many more business initiatives being launched in Pharma for the Blockchain in 2017 that Pharma could very easily surpass the banking industry in number of use cases deployed. Even though several areas in Pharma will benefit from the Blockchain, certain business challenges are yet to be fully resolved. Many Blockchain companies are trying to provide solutions for EHR, EMR and Medical Devices. iSolve is working diligently to provide solutions for Patient Adherence and managing multi-stage, multi-site collaboration. As we continue our efforts to be the premier Pharma Blockchain Solution Provider, we are still learning and exploring all the amazing opportunities Pharma has to offer.
If you have any questions about our Blockchain Solutions for Pharma or ADLT™ (Advanced Digital Ledger Technologies), contact us at firstname.lastname@example.org or email@example.com . Thanks, and we look forward to speaking with you in the New Year!
Tags: #blockchain #isolve #adlt #drugsupplychain