Governments and regulators struggle to ensure consumer safety, provide sufficient drugs in territory and have adequate healthcare budgets to meet demands.
The lack of visibility of product in territory, waste through lack of transparency and inability to adequately forecast can put a strain on Ministries of Health and national budgets. Since there are also a multitude of technology systems and solutions used by the pharmaceutical healthcare sectors, regulators are forced to use inefficient paper based systems to try to protect the public.
Without digitisation of systems, a holistic view of the pharmaceutical supply chain, the benefits of data analytics, many regulators and Governments are under immense financial and administrative pressure.
Using FarmaTrust solutions, Governments and regulators will be able to vastly improve supply chain visibility, accountability, compliance, and forecasting. Regulators will have a full picture of the drug supply chain, which will allow for more thorough enforcement as well as comprehensive analysis for taking preemptive measures for issues that would be difficult or even impossible without detailed visibility.
FarmaTrust is currently the only blockchain solution which offers a ready-made solution for track-and-trace at the product level, as required by European Union FMD regulations and can also work with USA DSCSA regulations . Our solution provides built-in functions for creating regulatory compliance reports, which will streamline the process and ensure the creation of permanent, auditable records.
Our bespoke data dashboards for Government and/or Ministries of Health can provide a holistic view of pharmaceutical products, budget spend, product wasted and effective utilisation. In some cases, FarmaTrust can also automate tax collection and/or compliance. Where required our AI products can help with budget planning and utilisation at product level.
FarmaTrust has experience in helping countries with pharmaceutical regulation, ensuring consumer safety, tax collection and budget allocation.
how does it work?
Check out our short clip on how our solution works for Governments and Regulators.