Prescription drug costs have been a controversial issue for US patients, doctors, and the government for many years. But now product design and development company Cambridge Consultants will offer a Blockchain-based solution that will make the US pharmaceutical industry transparent.
The open trading platform for drug price negotiations will be deployed on the Ethereum Blockchain.
“There is a huge opportunity for the US pharmaceutical industry.”
Cambridge Consultants digital health manager Jaquie Finn said:
Pharmaceutical pricing in the US healthcare system, market establishment corrupted by its shape. There is a tremendous opportunity to fix it by moving to an open market that creates price competition and improves access, and by applying the right technology.
Finn continued his speech summarizing the industry and explaining how much technology can achieve:
Blockchain is best known as the key behind digital currencies. But the opportunity is to be able to use it, including in healthcare. While maintaining traceability, we will use it to build a framework of trust in any industry that requires the binding of large volumes of dynamic data.
EPM