The Potential Benefits of Blockchain Technology in Pharmacy

Blockchain has the potential to radically transform the healthcare industry as a whole, but the pharmacy supply chain in particular will experience the most significant benefits.

The innovative pharmacy blockchain ledger technology offers many patient safety benefits. One of the most promising benefits of blockchain from a patient safety perspective is to help prevent the so-called SSFFC (substandard, spurious, falsely labelled, falsified and counterfeit) medicines that continue to infiltrate the pharmaceutical supply chain.

In this article, we will uncover the potential benefits of blockchain technology in pharmacy and how it benefits the end user – the patient.

How Does Pharmacy Blockchain Technology Work?

Blockchain in pharmacy is a new and innovative technology that helps prevent counterfeit drugs from entering the supply chain and improves drug traceability. By using blockchain technology, the pharmacy industry can finally have a reliable, secure, and transparent supply chain which should eliminate the infiltration of counterfeit medications into the supply chain and pharmaceutical market.           

What are the Potential Benefits of Blockchain Technology in Pharmacy?      

By utilising blockchain technology in pharmacy, pharmacies can create tamper-proof records of inventory and prescriptions that are easily accessible by everyone on your team and in your network that is completely transparent and tamper-proof. This will ensure that everyone is compliant with regulatory guidelines to secure the supply chain of medication and provide proper patient care.

Leveraging blockchain in the pharmacy industry can improve efficiency, accountability, and security – implementing blockchain technology for your pharmacy is definitely worth it.

Blockchain technology for pharmacies can:

•         Generate tamper-proof legitimate prescriptions.
•         Increase data security to prevent data breaches.
•         Provide more stringent transparency for audit trails and accountability to prevent bad practices such as prescribing without need, overprescribing, under-dispensing, and other fraudulent activities.
•         Establish a more secure and traceable supply chain of medicine to prevent counterfeit medicine from entering the pharmacy supply chain.

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