On-Demand Prescription Delivery
CVS On-Demand Prescription Delivery?
Are You Doing Delivery & Marketing Effectively?
Did you know Americans waste over 8 million hours per day waiting to get their prescriptions filled? In a world where convenience is key and things are getting faster and easier, getting your prescription filled should be no different and that expectation will be spreading throughout the U.S. pretty quickly as new third party companies offering pharmaceutical delivery services pop up around town and market directly to your consumers. A few weeks ago I drove by a CVS that had a 20 foot sign saying “We Deliver” and I had to do a double take. Now don’t get me wrong, I have seen quite a few Independent Pharmacies in my day that offer delivery services so it’s nothing new, but CVS wow. That was always a great differentiator for Independent Pharmacies. Then it made me think that “most” of the Independents I know do not market that they offer delivery services, the convenience of it, and the benefit of saving time and potentially scheduling a drop off time that works with their schedule.
Well… Why not? I remember a presentation I attended where the speaker started with there are innovators who are evolving and then there are dinosaurs. Well… We all know how that story ended for the Dinosaurs so we won’t go into detail but let’s just say there aren’t too many of them around last time we checked. Are you the innovator or the dinosaur? If one CVS is offering this service and marketing it with a huge 20 foot sign, even if it is a pilot program (I have only seen the sign at one store) then I suggest you evolve and not only offer this service, but market it as a convenience so you do not lose additional market share to the big guys. Most Independent Pharmacies probably don’t offer delivery due to potential legalities, maybe it is lack of additional resources, or just debating overall if it is feasible and it makes business sense. I say find a way even if it is next day delivery only during specific times to help from a cost and logistics standpoint.
With over a third of prescriptions not being filled for patients with insurance, studies show it is mostly due to patients being too busy and not having a convenient outlet to get their prescription filled within their availability. Imagine networking with your local companies and providing them a service to deliver their employees prescriptions in a confidential manner? I assume a small percentage would take you up on that offer although what does 500 new patients mean to your pharmacy? Get 100 local companies on board at an average of 5 employees per company taking advantage of this perk, with the average American filling 12 prescriptions per year that equates to an additional 6,000 prescriptions filled annually. For most Independent Pharmacies that is similar to adding an additional month to the calendar year.
Many of these prescriptions by not being filled create additional health risks that have a direct effect on employee performance. A healthy employee is a productive employee. It’s a win win for everyone. Take it a step further… After building a relationship with a company imagine distributing flu shots. I worked for a large corporation that had a blood mobile offering blood donation services and they visited us quarterly. How would this be any different? They would have probably jumped at the opportunity to offer such a service during flu season to help with employee attendance and productivity. As Independent Pharmacist’s and business owners we have to continuously evolve and find new revenue opportunities in which a demand can be created, even if it is a new market and unchartered waters.
In New York City, New York a local business ZipDrug has created a phone App for on demand prescription delivery service from any licensed pharmacy within the city in which the doctor submits a prescription electronically, 7 days per week, 8am – 10pm, with the exception of controlled substances. How convenient? I love it! The company’s goal is to master their concept and expand to other cities. Patients enter their insurance information on the App, schedule a delivery at their convenience, get updates on the delivery, have the ability to communicate with the driver, and even make their copayment directly on the App. The App also reminds patients of refills with an easy to refill your prescription and schedule your delivery button directly on your phone.
Suggestions:
- Market and we suggest a big sign saying WE DELIVER. With Americans looking for new faster ways the sign alone can draw attention and new patients which may not need the service although the sign acted as a reminder that you exist.
- Why stop at Prescriptions? Especially in small towns it is a great resource to get upsell opportunities and deliver other goods along with the prescription. Need vitamins, DME’s, etc.? A quick phone call beforehand to your patients with a proper discovery you may find that your patients have additional needs that you can be of immediate assistance and convenience.
I recently spoke with Ravi Shah, PharmD from Harlingen Pharmacy out of Harlingen, TX that has a (BIG) sign on their pharmacy that they deliver. I asked him what results this has provided to his business and below is a synopsis of his response:
“It has increased revenue although in Healthcare it is not always about generating revenue. It is about the patient engagement. If Pharmacists view delivery the same as a face to face interaction it becomes part of your overhead. Geographical area and population density have a direct effect on how easy it is for a pharmacy to be able to offer delivery services, in our area we service a radius of 30-35 miles. Where it has really made a difference is in our community. For example we work with Hospice to deliver medications so the nursing staff can spend more time on patient care. It’s about helping patients and making a difference which is why we became Pharmacists.”
Well said Ravi! Show your support and like Harlingen Pharmacy’s FB page (Here)
Pharmacy Items Delivered By Drone at the Push of a Button
So close… The future WAS almost here: Drone delivery! A company out of San Francisco (http://quiqui.me/) brought to the market a Pharma Drone Delivery service. Unfortunately Amazon brought a lot of attention to the Drone Delivery market and the FAA banned domestic delivery services by drone until further notice. The company planned on making deliveries to SF’s Mission District by drone 24 hours a day for a $1 delivery fee with orders being dropped off to patients in 15 minutes or less. Wow! That would have been an amazing concept to see take flight.
California and Oregon Lead the Charge
California and Oregon Lead the Charge
Contraceptives Prescribed By Pharmacists
Two groundbreaking laws have passed in California and Oregon allowing Pharmacists to prescribe contraceptives for birth control without a doctor’s prescription. After a quick screening process which includes a questionnaire about their health and medical history. Insurance companies will cover it as usual. This is not only convenient for the client, it is a great opportunity for Independent Pharmacies in these two states to capitalize and increase foot traffic and build a new personal one on one relationship with a new demographic that may have just come in for a quick prescription fill in the past.
Although overall support for these changes have been great this far, it does not come without opposition including The American Congress of Obstetricians and Gynecologists which believes contraceptives should be available solely over the counter as it is in other countries with the downfall being the issue whether it will be covered under the Affordable Health Care Act which is requiring insurance companies to cover contraception. Will that remain if they are over the counter? Nobody knows.
Beverly Schaefer, co-owner of Katterman’s Sand Point Pharmacy in Seattle charges a $35 fee to prescribe contraceptives due to it being uncertain if Insurance companies will pay for the time that a Pharmacist spends with a patient. A Physician out of New York chimed in on a New York Times blog post regarding this topic which was encouraging as if anyone would have an issue with a change like this would be them as they lose the additional revenue:
“This move to allow Pharmacists to prescribe birth control pills seems a welcome development. But there should be some oversight by a Physician such as the women are prescribed by a Physician after a physical and some risks like proclivity to Deep Vein Thrombosis is eliminated. Also, any complaints or side-effects reported to the Pharmacist should immediately be conveyed to a Physician and the requirement that the woman will see her Physician. That would make this a fool-proof plan, cutting down costs as well.”
Although my personal favorite post was from C. Camille Lau out of Eagle River, Anchorage
“It seems reasonable to assume that making contraceptives easier to obtain should result in fewer unwanted pregnancies which should result in fewer abortions, medical risks and costs. Excuse me, but did something political just make sense? I’ve forgotten that could happen!”
Trxade Health Retains Investor Relations Partners
Trxade Health featured on NASDAQ tower on 10/29/2015 in Times Square NY.
TAMPA, Fla., Oct. 29, 2015 (GLOBE NEWSWIRE) — Trxade Health, Inc. (OTCQB:TRXD), a web-based pharmaceutical marketplace engaged in promoting and enabling trade among independent pharmacies and large pharmaceutical suppliers nationally, today announced that it has retained Investor Relations Partners (IRP) to expand the Company’s strategic investor relations program.
“This is an exciting time for Trxade Health and we believe with the help of Investor Relations Partners we will be able to more broadly and effectively communicate our story to the investment community,” said Suren Ajjarapu, Chairman and CEO of Trxade Health. “We have a number of exciting developments at Trxade Health driven by our proprietary technology that is designed to disrupt the multi-billion dollar pharmaceutical marketplace. Based on our current double-digit revenue growth rates and increasing demand for our services, we expect 2016 to be a profitable and breakthrough year for Trxade and its shareholders and look forward to updating the market on our progress as we continue to execute on our business plan,” concluded Mr. Ajjarapu.
Todd Markey, Vice President of Investor Relations Partners, said, “We are looking forward to communicating Trxade Health’s investment story to beyond its existing shareholder base and the health care sector. We believe Trxade Health should be of particular interest to value and earnings growth investors given our belief that the company is significantly undervalued when considering the vast potential of its proprietary disruptive technology and its outlook for accelerated growth and profitability,” concluded Mr. Markey.
To be added to Trxade Health’s investor lists, please contact Todd Markey at Investor Relations Partners at 818-280-6800 or via email at [email protected].
About Investor Relations Partners, Inc.
Investor Relations Partners, Inc. (IRP) www.irpartnersinc.com is a full-service investor relations firm serving clients from Los Angeles to New York to China. The principals of IRP have received top industry awards for their investor relations programs for a number of high-profile companies, including, but not limited to, Starwood Hotels & Resorts Worldwide, ValueVision Media, Taro Pharmaceuticals, and LJ International. The firm’s principals have executed effective investor relations programs for dozens of public companies, ranging from emerging micro-cap companies to multinational corporations with market capitalizations in excess of $15 billion. For further information on IRP, please visit the firm’s Website at www.irpartnersinc.com.
About Trxade Health, Inc.
Headquartered in Tampa, Florida, Trxade Health, Inc. (OTCQB:TRXD) is a web based market platform that enables trade among healthcare buyers and sellers of pharmaceuticals, accessories and services. Founded in 2010, Trxade Health currently operates the trading platform with 4,600 registered members. Trxade Health also distributes directly private label pharmaceuticals through their 100% subsidiary, Westminster Pharmaceuticals LLC, to these registered members. For additional information please visit us at https://trxadehealth.com/
Disclaimer & Forward-Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. Except as may be required by applicable law, we assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The company undertakes no duty to update forward-looking statements.
Investor Relations Contact:
Max Pashman
Phone: 818-280-6800
See more at: http://globenewswire.com/news-release/2015/10/29/781461/10154491/en/Trxade-Group-Retains-Investor-Relations-Partners-as-Investor-Relations-Counsel.html#sthash.SeaolTeH.dpuf
The Future of the Pharmacy World
The Future of the Pharmacy World
Technology, Knowledge, Medicine
The wave of the future may not include the hover boards as predicted in the popular, 1989 film, Back To The Future II, but the Pharmacy World will be seeing the implementation of tele-pharmacies, pharmacogenomics, smart lenses and the use of radio frequency technology. An incredible service that is being discussed is using radio frequencies via beacons in the parking lot of a pharmacy that will alert the pharmacist via an iPad of typical products that patient buys. This can help increase profitability and repeat customers. As you can see the Pharmacy world is growing and changing rapidly. As independent pharmacists it’s important to stay informed and progress with the times. “The pharmacist’s role has grown and evolved over the years to become more inclusive of patients’ health care needs as a whole. Patients can now look to their pharmacy as a total health care provider, and today’s pharmacists play an important role in improving patient outcomes…
Pharmacists are definitely thinking, talking, and evaluating what the future holds for their profession in the context of all the recent sweeping changes in health care policy” (Pharmacy Times). Dan Benamoz, RPh and CEO of the Palm Beach, FL-based Pharmacy Development Services shared that Alcon and Google are creating a “smart contact lens” that will revolutionize the way patients manage their Diabetes. This lens will be a minimally invasive way to continuously monitor blood glucose levels from a patient’s lacrimal fluid which will communicate these readings with a mobile device via Wi-Fi. Another product, the Hololens by Microsoft, allows Pharmacists to access medical information and prescription information via eyeglasses. It took 5 years to develop and was announced in early 2015. This gives Pharmacists the ability to give immediate counseling and education to patients.
Pharmacogenomics, or the study of the role of genetics predicting drug response, is another up-and-coming theme for Pharmacists and Providers. “The DNA Medical Institute created rHealth, a portable handheld device that can diagnose hundreds of diseases using a single drop of blood. Now, we could be looking at biomarkers to identify early indicators of serious ailments. I think the technology will be used by national labs such as Quest Diagnostics”, Benamoz stated (Drug Topics). About ten million people are currently using tele-pharmacy services, and the number is rising, especially due to the Obama Administration endorsing it. To stay competitive, it’s good to think about offering this service to patients, but make sure the Pharmacy Board in your state approve.
Extra: Step Into The Future With USF’s Health Pharmacy Plus
Not too far from Trxade headquarters, University of South Florida in Tampa is introducing Pharmacy Plus. The Pharmacy of the Future revolutionizes the Pharma industry and catapults it into the future with tools to improve and maximize profits, while minimizing risks. USF Health Pharmacy Plus is a national prototype giving us a preview of what may become the standard for the future, today.
Below are some bullet points from USF’s website on how using technology, knowledge, and medicine the pharmacy of the future plans to improve the quality of the patient’s needs.
Imagine a future where:
+ The pharmacist plays an integral role on your healthcare team.
+ You keep the healthy conversation going with both technology and human interaction.
+ It’s about more than taking a pill. It’s about how we will use innovative new tools to help you live healthier.
+ You receive health advice from your mobile device.
+ Your doctor’s prescription sends you to an online, multimedia learning experience as often as it does to the pharmacy.
+ Medication is personalized specifically for you.
+ You can check your health as easily as you check your email.
YouTube Video:
Old Drugs, New Uses Is A Trend
Old Drugs, New Uses Is A Trend
Ursodeoxycholic Acid
It is becoming more and more common to prescribe existing drugs for new uses. Take Lyrica for example; this drug was originally used to treat depression, but it was later discovered that it has therapeutic effects for patients that suffer from pain disorders, such as Fibromyalgia.
This same concept is being suggested for another drug called Ursodeoxycholic Acid (UDCA) or Actigall. The intended use of this drug is for liver disease. It has successfully reduced liver jaundice, ascites, and biliary stasis in patients for decades. It is now believed that this medication can actually slow the onset and progression of Parkinson’s disease. Researchers from the Sheffield Institute of Translational Neuroscience (SITraN) and the University of York studied the effects of this drug on mutated nerve cells of the LRRK2 gene in fruit flies.
This mutation is the most common cause of inherited Parkinson’s disease. Mitochondria in each cell gives the cell energy it needs to function. The LRRK2 mutation prevents mitochondria from functioning properly, leaving is susceptible to neurological diseases, like Parkinson’s. It is estimated that at least 500,000 people in the U.S. have Parkinson’s disease.
Dr. Heather Mortiboys of SITraN reports; "We demonstrated the beneficial effects of UDCA in the tissue of LRRK2 carriers with Parkinson’s disease as well as currently asymptomatic LRRK2 carrier. In both cases, UDCA improved mitochondrial function as demonstrated by the increase in oxygen consumption and cellular energy levels” (Medical News Today).
Expect this drug to be in high demand in the near future.
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Extra: See Pharmacy Acquisition Cost (PAC) at no additional cost. PAC pricing is the national average price for pharmaceutical products at the pharmacy level and is an excellent way to determine fair prices. Trxade has PAC built into its online marketplace making it easier to buy smarter.
FDA Review of the use of Codeine for Kids
FDA Review of the use of Codeine for Kids
The European Medicines Agency (EMA) bold statement regarding the use of codeine in children has a struck a cord with the U.S. Food and Drug Administration (FDA). The EMA states that codeine should not be used for children under the age 12. Codeine is an opioid analgesic used to treat pain that can also be found in children’s cold and cough medicine. Codeine is metabolized by the body and turns into morphine. It is a central nervous system depressant that can have dangerous side effects that include; slowed breathing, drowsiness, nausea, vomiting, sedation, addiction, bradycardia, syncope, hallucinations, seizures, anaphylaxis, and even death.
Eric Pahon with the FDA in response to EMA’s codeine declaration, “We have looked at their data and feel it is well-presented and seems firm. We are not really recommending anything at the moment. The FDA will continue to evaluate this safety issue and will consider the EMA recommendations”. In the FDA’s defense, they did issue a warning to physicians in 2013 that advised not to prescribe codeine for children after a tonsillectomy/adenoidectomy due to a higher risk of breathing complications. But was this warning heard? Was it sufficient?
Since 1999, the FDA reports that 10 children have died and 3 have overdosed on Codeine. The American Academy of Pediatrics is against giving codeine in a cough suppressant. In 2007, the FDA did however talk many pharmaceutical companies into taking over-the-counter (OTC) cold and cough drugs off the market for infants. We can’t stop physicians from prescribing these medications to our patients, but we can make sure we thoroughly educate the parents of these children on the dangers of Codeine. We can also educate parents on specific signs and symptoms to look for that may indicate a problem, such as, labored or loud breathing, confusion, and fatigue.
References:
http://www.nbcnews.com/health/kids-health/fda-taking-closer-look-codeine-kids-n385281
http://www.rxlist.com/codeine-sulfate-side-effects-drug-center.htm
