SAN FRANCISCO, Sept. 15, 2020 /PRNewswire/ --The Health Industry Business Communications Council (HIBCC), in partnership with Chronicled, is pleased to announce that its Health Industry Number (HIN) System is now available to registered HIN licensees via Chronicled's blockchain-enabled MediLedger Network. By using Mediledger, HIN pharma industry licensees will both be able to access and use real-time HIN data and incorporate it directly into live business processes.

Manufacturers, Distributors, and GPOs on the MediLedger Network use its Contracts & Chargebacks Solution to ensure pricing contracts are aligned. The solution guarantees that distributors always have valid pricing for customers (Hospitals, pharmacies, clinics, etc.) and that chargebacks are accurate.

HIBCC's HIN data is a crucial part of identifying which customers are eligible for which contracts. Through the solution, when HIN records are updated, all participants see the same changes in real-time. Thus, there is no confusion related to customer HIN identity when processing a chargeback. Manufacturers can also now automatically incorporate HIN data updates into business processes such as Class of Trade determination and contract eligibility. Automated integration of HIN data is a significant step towards enabling manufacturer's to proactively determine contract eligibility for all customers, so distributors don't have to guess what pricing to offer new customers, which is historically a common source of chargeback errors and disputes.

HIBCC's HINAPI Service integration with the MediLedger Network, developed and maintained through collaboration with Chronicled, will link the HIN System Database directly with network participants. Consistent and real-time HIN data is distributed through blockchain and is available to every licensed participant in the MediLedger Network. HIBCC CEO Robert Hankin, Ph.D. stated "Deployment of our HIN database within Mediledger's blockchain technology represents a significant development that promises to further streamline the use of HIN data by many of our licensees, and our collaboration with Chronicled is a milestone for the industry standards process."

With the HIN data now integrated into the MediLedger Network, all of the benefits of HIN data in the Contracts & Chargebacks Solution can be replicated across other solutions developed for many other processes between trading partners. Susanne Somerville, CEO of Chronicled, said "Incorporating HIN data into the MediLedger Network is an incredible example of the value MediLedger can offer as a platform. Future solutions can now be developed with HIN data already established as a key building block. We are very excited about the partnership with HIBCC and all the ways we can work together to bring efficiency and accuracy to the pharmaceutical supply chain."

HIBCCHIBCC is an industry-supported and internationally accredited nonprofit standards development organization. HIBCC develops electronic communication standards that meet the unique requirements of the healthcare industry, including the widely-used Health Industry Number (HIN) System, and the US FDA and EU accredited Supplier Labeling Standard.

ChronicledBased in San Francisco, Chronicled is a technology company developing solutions that bring trust, efficiency, and automation to the Pharmaceutical and Life Sciences industry. Chronicled is the custodian of MediLedger, an open and decentralized blockchain-based network that connects trading partners and enforces cross-organization business rules without revealing private or competitively sensitive data. MediLedger currently facilitates solutions in the Supply Chain and Revenue Management functions within the Pharmaceutical industry.

To learn more, contact [emailprotected].

SOURCE Chronicled

http://www.chronicled.com

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