How to Crack a $500B Prescription Market With Online Pharmacy App Like PillPack by Amazon?
4 months ago
Spending on prescription medications in North America is growing up to 7% annually after hitting $500 billion in the USA only last year. The report also states that more than 50% of people in this region fail to take their drug combination correctly.
If you see an opportunity here to simplify the process through a mobile app, my team can give wings to your pharmacy app idea with 30 years of combined experience in healthcare app development and compliance.
But first, let me clear all of your doubts you might have right now.
Why should a pharmacy develop a mobile app?
What’s common in Uber, Airbnb and Bird? They all are billion-dollar companies and they solve real-life problems!
People taking medications have real-life problems in addition to real-health problems. They have to stand in the queue at a pharmacy, sort their pills, and remember to fill their prescriptions.
Like Uber solved the last-mile transportation problem with the most easily accessible digital medium which is a mobile app, a pharmacy store or a startup can solve these real-life medication problems with the mobile app.
Amazon must have figured out the potential of online pharmacy because they acquired an online pharmacy startup named PillPack in the deal of $753 Million. The deal revealed the possibilities!
How long does it take to go online?
Let’s address it with time-to-market. It is crucial but not easy to estimate accurately. However, with our rapid app development technique and well-organized app development & delivery approach, we have achieved a milestone of pharmacy app development and delivery within 15 days.
What will be the breakeven time for your online pharmacy?
The breakeven time depends on your current market position. For pharmacy startups that need to build a market position from scratch, breakeven time can be elapsed to a few months. But for pharmacy stores practising business for many years can easily reach a breakeven point within a few weeks.
How does an online pharmacy operate?
Let’s understand it with the example of PillPack pharmacy.
- While signing up, users need to provide a list of medications, doctor information, insurance information, and payment method.
Online Pharmacy Roles:
- PillPack coordinates with the doctor to collect prescriptions.
- PillPack packs the medications by the time of day and delivers it to the user.
- PillPack automatically refills the medication before the user needs it again.
On which technologies a pharmacy app like PillPack works?
In addition to basic development technologies such as React for app UI, Amazon RDS for database, and PHP for backend, one can implement robotic process automation to increase the revenue per employee, reduce transcription errors and achieve high productivity.
The pharmacy app integration with top pharmacy management software such as TELUS Health Kroll is also a fundamental requirement. Fetching drug information from provincial drug information systems is one of the reasons why this integration is vitally important.
My team has earned expertise in RPA as well as TELUS Health Kroll integration.
What are the regulations an online pharmacy should address?
Since pharmacy app stores and shares patients’ personal as well as health information digitally, it should adhere to government privacy regulations imposed under HIPAA and PHIPA laws.
You can know more about HIPAA and PHIPA laws and access the HIPAA compliance checklist by visiting our dedicated page on healthcare compliance consulting.
The Ontario College of Pharmacists has listed out all regulations to be followed by online pharmacy. Click here to access the list.
What are the ways to multiply the revenue stream of the pharmacy app?
The global app market is moving toward multi-purpose apps. A multi-purpose app targets multiple challenges of users and meets multiple market needs which result in multiple revenue streams.
You can also make your online pharmacy app a multi-purpose app to add more revenue streams. For that, you can expand the pharmacy app feature set to telehealth app features and home healthcare eCommerce app features.
However, interoperability is the major challenge associated with a multi-purpose healthcare app. My team has already mastered the skill to achieve interoperability in the healthcare app while developing a virtual healthcare platform named Writi which has been recently recognized as an innovative company by Collision Conference.
I would also like to share our current efforts for a flourishing future of a pharmacy.
My team accommodates app developers, healthcare compliance experts, security experts, and even RPA engineers. With such a diverse team, we are able to turn any sort of healthcare app idea into a thriving mobile app.
Currently, we are working for a Canada-based pharmacy to develop the app for them. Here, I am sharing the exclusive screenshots of the pharmacy app currently we are developing.
I would love to know your thoughts on this app UI and talk to you to discuss the pharmacy app idea, compliance and healthcare technologies. You can reach out to me by filling out the form or calling me directly on +1 905 635 7574.