DataVault AI, Inc. exclusively licensed its smart contracts intellectual property to Wellgistics Health, Inc. for integration into its PharmacyChain™ smart contract and EinsteinRx™ initiatives.
Wellgistics Health aims to revolutionize prescription drug distribution by fully digitizing the tracking of prescriptions from script to fulfillment.
This strategic partnership positions Wellgistics to become a leader in Web 3.0 health information data transfer in the prescription drug industry.
Revolutionizing Prescription Drug Distribution
The licensed smart contracts intellectual property aims to disrupt and revolutionize the $634 billion U.S. prescription drug industry by enabling automated prescription fulfillment optimization.
Impact on Healthcare Spending
The PwC estimates a $1 trillion opportunity to shift healthcare spending towards a digital-first and personalized system, which aligns with Wellgistics' goals to minimize administrative burden.
Efficiency and Cost Reduction
By integrating smart contracts and AI technology, Wellgistics intends to reduce costs for payers, lower retail drug prices, and improve patient outcomes in the pharmaceutical industry.
- Wellgistics Health's implementation of the EinsteinRx AI hub and Datavault's smart contracts intellectual property lay the foundation for a disruptive change in prescription drug distribution.
- The partnership between DataVault AI and Wellgistics is expected to streamline the prescription filling process, enhance transparency, and improve cost efficiency for all stakeholders in the healthcare ecosystem.
The collaboration between DataVault AI and Wellgistics marks a significant step towards transforming the pharmaceutical distribution landscape in the U.S., offering a more efficient and transparent approach to prescription drug delivery.