The BlockRx Pharma Ecosystem ties together five subsystems which are involved in the pharmaceutical supply chain: Manufacturers, Distributors, Clinical Trials, Patients, and Regulators. The diagram below shows how the subsystems interact with each other through the Blockchain and ADLT™.
So, what is each subsystem and how does it interact within the Ecosystem?
- Manufacturing – this includes all parties who manufacture the drugs, from Active Pharmaceutical Ingredient Synthesis to Packaging. They share all data relevant to production, shipping, and supply, including IoT sensor data. In turn, they gain access to data from the other manufacturers, as well as distribution data down to the patient level. This can help with resource planning, predicting shortages, determining whether a product is safe, and identifying key points of improvement in the manufacturing process.
- Distribution – all parties who distribute packaged goods, including 3rd Part Logistics (3PL), Wholesalers, Pharmacies, and Dispensaries. They share all data relevant to the sale, marketing and distribution of medications, including supply levels, shipping alerts, and IoT sensor data. In return, they can access all the data provided by the manufacturers to ensure the quality and fidelity of the drugs. They also gain access to patient data, as well as data related to the sites and practitioners carrying out Phase IV Clinical Trials.
- Patients – in exchange for their de-identified data, patients can get expedited enrollment in clinical trials, access to medical information, the ability to ensure the package of medicines they receive is safe, and special benefits that help reduce their medical costs.
- Clinical Trials – these are the sites and healthcare practitioners who participate in Phase IV (Post-Marketing) clinical trials. They share patient data (with patient consent) as well as clinical trial data. In exchange, they participate in a streamlined enrollment process and gain access to the supply chain information that will allow them to confirm their medicines are secure.
- Regulators – these are the government bodies that mandate and inspect the pharma supply chain. They gain track and trace throughout the supply chain in accordance with their mandates, as well as immediate access to clinical trial data. In turn, they are able to issue rulings (such as approvals, warnings, and recalls) in a targeted and efficient manner
Without the BlockRx Pharma Ecosystem, not only are the subsystems not communicating, there is no framework for data sharing within the subsystem. By creating a data sharing framework and data economy, companies can realize revenue gains through:
- Decreased Operational Costs due to the streamlining of processes and improved cost efficiency.
- Data-Driven Revenue Channels can be implemented to provide increased margins.
- Time to Market since Operational, Administrative and Deployment time can be reduced to expedite business and regulatory processes.
- Patient Level Data can be leveraged to better understand the Patient, allowing more targeted treatments and improved outcomes.