{"id":27418,"date":"2023-07-04T06:00:00","date_gmt":"2023-07-04T06:00:00","guid":{"rendered":"https:\/\/www.syscreations.ca\/blog\/?p=27418"},"modified":"2023-07-04T09:59:45","modified_gmt":"2023-07-04T09:59:45","slug":"digital-pharmacy-startup","status":"publish","type":"post","link":"https:\/\/www.syscreations.ca\/blog\/digital-pharmacy-startup\/","title":{"rendered":"How to Start an Internet Pharmacy Startup Like Capsule?"},"content":{"rendered":"\n<p><strong>Well, you can happily blame 2020 for making people order even medicines online!&nbsp;<\/strong><\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">But what started as the compulsion to get medicines while avoiding coronavirus has now become their most preferred way to buy medicines.<\/span>&nbsp;<\/p>\n\n\n\n<p>The question is, are you equipped with the right technology to cope with new consumer behavior?<\/p>\n\n\n\n<p><strong>Our other interesting resources on healthcare IT and automation: <\/strong><\/p>\n\n\n\n<ul><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/healthcare-hr-automation\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\">A guide to healthcare automation<\/span><\/a> <\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/healthcare-ui-ux\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\">A guide to healthcare UI\/UX<\/span><\/a> <\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/epic-allscripts-cerner-integration\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\">Epic, Allscripts, Cerner EHR integration<\/span><\/a> <\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/build-virtual-wound-care-platform\/\" target=\"_blank\" rel=\"noreferrer noopener\"><a href=\"https:\/\/www.syscreations.ca\/blog\/build-virtual-wound-care-platform\/\"><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">Wound<\/span><\/strong><\/a><span style=\"color:#7b68ee\" class=\"has-inline-color\"> assessment tool working on AI technology<\/span><\/a> <\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/build-home-care-wellness-marketplace-like-wecasa\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\">Home care and wellness marketplace<\/span><\/a><span style=\"color:#7b68ee\" class=\"has-inline-color\"> <\/span><\/strong><\/li><\/ul>\n\n\n\n<h2><strong><strong>What do we think in terms of the future of digital pharmacy after a pandemic?<\/strong>&nbsp;<\/strong><\/h2>\n\n\n\n<p>The <strong>concept of digital pharmacy<\/strong> is old with several startups offering doorstep delivery of medicines for a long time.<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">However, the idea of digital pharmacy was not successful until the pandemic forced people to adopt online mediums to buy essential items including medicines.<\/span><\/p>\n\n\n\n<p>During this time, existing digital pharmacy startups experienced exponential growth. Several new online pharmacy startups have also been launched. And brick-and-mortar pharmacy stores have invested hugely to go digital.<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">The entire industry received a makeover. And the major factor causing the overnight transformation of the pharmacy industry was the <strong>recognized benefits of online pharmacies<\/strong> on the consumer front.&nbsp;<\/span><\/p>\n\n\n\n<p>While ordering medicines online during the lockdown period, consumers became aware of the true benefits a digital pharmacy could offer. They found it <strong>more convenient, fast, reliable, and affordable<\/strong> than visiting the pharmacy store.<\/p>\n\n\n\n<p>Slowly, it became their firm belief that choosing a digital pharmacy is a more rational choice.&nbsp;&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">And it is observed that when there is a firm belief for a startup in the consumer community, it takes years and many times decades to alter their belief.&nbsp;<\/span><\/p>\n\n\n\n<p>For instance, consumers first experienced an easy way to book a cab &#8211; Uber &#8211; almost 10 years ago. They <strong>still believe<\/strong> that using Uber to book cabs is the best option.&nbsp;<\/p>\n\n\n\n<p>Similarly, consumers first used Airbnb in 2008. They still believe in the <strong>ease, affordability, and reliability<\/strong> Airbnb offers.<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">What we are trying to say here is that a large percentage of the population has started believing in online pharmacies. It is now difficult to change their belief for many more years.&nbsp;<\/span><\/p>\n\n\n\n<p><strong><em>Meaning, the future of digital pharmacies is beyond your imagination!<\/em><\/strong>&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">However, as it always happens in the startup ecosystem, you need to bring innovation regularly to keep consumers engaged and satisfy their ever-evolving needs!<\/span><\/p>\n\n\n\n<h2><strong><strong>How did a digital pharmacy startup, Capsule, become a unicorn startup?<\/strong><\/strong><\/h2>\n\n\n\n<p>Founded in 2015, Capsule is a New York-based pharmacy startup offering a <strong>same-day prescription delivery service<\/strong> with couriers delivering prescriptions by bike or by car.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Available on the Apple App Store, Capsule\u2019s robust mobile app enables patients to manage their prescriptions easily from smartphones.&nbsp;<\/span><\/p>\n\n\n\n<p>Patients can also chat or text with expert pharmacists if they have any questions regarding their medication plan.&nbsp;<\/p>\n\n\n\n<p>The major value proposition Capsule offers to its customers is <strong>peace of mind<\/strong>.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">It coordinates with patients\u2019 old pharmacies and doctors to get the prescription, hand-deliver the prescription at a time suitable for patients, and text patients when it is time for refills.<\/span><\/p>\n\n\n\n<p>Imagine how easy it becomes for patients to manage their prescriptions as everything is managed by Capsule itself!<\/p>\n\n\n\n<p>It also offers free delivery with full insurance support to provide maximum financial benefits to its customers.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Recently, the startup has raised <strong>$300 million<\/strong> and is valued at over <strong>$1 billion<\/strong>. Since its inception, it has raised a whopping <strong>$570 million<\/strong>!&nbsp;<\/span><\/p>\n\n\n\n<p><center><blockquote class=\"twitter-tweet\"><p lang=\"en\" dir=\"ltr\">Capsule raised $300 million, valuing the company at &gt;$1 billion for the first time. The pharmacy wars are heating up <a href=\"https:\/\/t.co\/Soxh7sy8pm\">https:\/\/t.co\/Soxh7sy8pm<\/a><\/p>\u2014 angelicalavito (@angelicalavito) <a href=\"https:\/\/twitter.com\/angelicalavito\/status\/1387383791728177161?ref_src=twsrc%5Etfw\">April 28, 2021<\/a><\/blockquote> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/center><\/p>\n\n\n\n<p>With this new cash injection, it plans to build an advanced healthcare IT platform to address all clinical needs of the patients.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">For instance, a super healthcare app with <strong>telemedicine, mental health, pharmacy, and healthcare eCommerce modules<\/strong> for enabling patients to seek medical consultation, order medicines, and purchase wellness products from the same platform.<\/span><\/p>\n\n\n\n<p>If we conclude, Capsule has become a unicorn pharmacy startup just because of the peace of mind it provides to its users and its plan to build a healthcare super app or platform.&nbsp;<\/p>\n\n\n\n<h2><strong><strong>Why do a few digital pharmacy startups fail?<\/strong><\/strong><\/h2>\n\n\n\n<p>Not every pharmacy startup that manages to raise millions can dominate the market for a long period for one or many reasons.&nbsp;<strong>&nbsp;<\/strong><\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Poor technology platform&nbsp;<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Be it a mobile app, web app, or even a website of a pharmacy startup, it acts as the only medium of interaction between consumers and startups.<\/p>\n\n\n\n<p>So, if it lacks some <strong>useful features or has bad UI\/UX<\/strong> which either confuses or irritates the users, they start looking for alternatives.&nbsp;<\/p>\n\n\n\n<ul><li><span style=\"color:#dd0055\" class=\"has-inline-color\"><strong>A non-compliant technology platform<\/strong>&nbsp;<\/span><\/li><\/ul>\n\n\n\n<p>Being compliant with data privacy laws is very crucial for all healthcare startups. <span style=\"color:#7b68ee\" class=\"has-inline-color\">It is not only legally mandatory but it also influences the choice of users as awareness around privacy issues has increased among individuals in the last few years<\/span>.&nbsp;<\/p>\n\n\n\n<p>Investors also never show their interest in investing in a startup that isn\u2019t compliant with <a href=\"https:\/\/www.syscreations.ca\/blog\/data-privacy-laws-in-canada\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\">data privacy laws<\/span><\/strong><\/a> at the organization and the technology level.<\/p>\n\n\n\n<ul><li><span style=\"color:#dd0055\" class=\"has-inline-color\"><strong>Fail to generate multiple revenue streams<\/strong>&nbsp;<\/span><\/li><\/ul>\n\n\n\n<p>With more revenue streams, internet pharmacy startups can generate more revenue.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">In 2020, every startup attempted to generate extra revenue by introducing new revenue streams. Because they can\u2019t survive on the raised funds for a long time!&nbsp;<\/span><\/p>\n\n\n\n<p>For instance, Uber started delivering medicines. A few food delivery startups started delivering groceries.&nbsp;<\/p>\n\n\n\n<p>Similarly, as per market requirements and trends, a pharmacy should be able to <strong>generate multiple revenue streams<\/strong> to not only earn more but to build a larger user base.&nbsp;<\/p>\n\n\n\n<h2><strong><strong>Components of a digital pharmacy\u2019s IT Infrastructure<\/strong><\/strong>&nbsp;<\/h2>\n\n\n\n<p>Can you imagine Uber without its app? Of course not!&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Same way, the most important resource of an internet pharmacy is a mobile app.<\/span> (If not a mobile app, you can also consider building a <a href=\"https:\/\/www.syscreations.ca\/blog\/progressive-web-apps\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>progressive web app<\/u><\/span><\/strong><\/a>.)&nbsp;&nbsp;<\/p>\n\n\n\n<p>A digital pharmacy app facilitates users to fulfill all of their medication goals with hand-picked app features.<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">However, pharmacy staff should also have access to a digital system to process the prescription and help users with their queries.&nbsp;<\/span><\/p>\n\n\n\n<p>Thus, the IT infrastructure of the internet pharmacy is divided into two parts &#8211; <strong>user-front and admin-front<\/strong>.&nbsp;<\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">User-front of IT infrastructure:<\/span>&nbsp;<\/strong><\/p>\n\n\n\n<p>In most cases, it includes a mobile app and a website. (Yes, even if you have a mobile app, a website is required to build your brand on Google!) <strong>&nbsp;<\/strong><\/p>\n\n\n\n<p>Talking about a mobile app, it is equipped with several useful features such as,&nbsp;<\/p>\n\n\n\n<ul><li>User sign up\/sign in&nbsp;&nbsp;<\/li><li>User profile&nbsp;<\/li><li>Prescription upload&nbsp;<\/li><li>Prescription transfer request&nbsp;<\/li><li>Live tracking&nbsp;&nbsp;<\/li><li>Payment&nbsp;<\/li><li>Customer support&nbsp;<\/li><li>Clinical support&nbsp;<\/li><li>Medication reminder&nbsp;<\/li><li>Refill reminder&nbsp;<\/li><li>Order history&nbsp;<\/li><\/ul>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">To achieve a few of these features easily, we have to integrate 3rd party service providers or APIs with the app.<\/span><\/p>\n\n\n\n<p>For instance, <strong>Payment API<\/strong> for letting patients make payments with debit\/credit cards &amp; eWallet in a secure manner and <strong>map API<\/strong> for letting users track medicine delivery in real-time.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">If there is a clinical use case, we also need to integrate EMR\/EHR with a pharmacy app to let healthcare providers access all clinical information of patients from the app itself. And it also requires a different app module for clinical staff.&nbsp;&nbsp;<\/span><\/p>\n\n\n\n<p><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Admin-front of IT infrastructure:<\/span>&nbsp;<\/strong><\/p>\n\n\n\n<p>Only admin and authorized staff members can operate this part of the IT infrastructure which consists of a web app to fulfill prescriptions ordered by customers. This is majorly used <strong>to manage the entire online pharmacy business and stakeholders.<\/strong><\/p>\n\n\n\n<p>Its major use cases include,&nbsp;<\/p>\n\n\n\n<ul><li>User management&nbsp;<\/li><li>Payment dispute management&nbsp;<\/li><li>Delivery executives management&nbsp;<\/li><li>Customer service management&nbsp;<\/li><li>Compliance management&nbsp;<\/li><li>Analytics and reporting&nbsp;<\/li><li>Promo codes management&nbsp;<\/li><\/ul>\n\n\n\n<p>Several pharmacy startups prefer to deploy <strong>RPA technology<\/strong> to automate back-office tasks and free up their staff from repetitive and tedious tasks.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Moreover, if a brick-and-mortar pharmacy builds an app, we have to integrate the mobile app with its pharmacy management system to let them manage its customers and prescriptions from a centralized system.<\/span>&nbsp;<\/p>\n\n\n\n<h2><strong>What you can learn from the success story of a digital pharmacy, Capsule?<\/strong><\/h2>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Conduct market research<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>It can help you understand the needs and preferences of your target audience.<\/p>\n\n\n\n<p>Analyze the current market trends, competition, and demand for online pharmacy services to identify potential gaps that you can fill.<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Create a business plan<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>It helps to establish a roadmap for your startup.<\/p>\n\n\n\n<p>It should include an executive summary, a company description, a market analysis, a description of products and services, a marketing and sales strategy, an organizational structure, and financial projections.<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Develop a strong technology platform<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Developing a robust technology platform is critical to the success of your digital pharmacy startup.<\/p>\n\n\n\n<p>The platform should be user-friendly, secure, and compliant with data privacy laws.<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Focus on customer experience<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Providing a seamless and hassle-free customer experience is key to attracting and retaining customers.<\/p>\n\n\n\n<p>Enhance customer experience by investing in features like easy prescription management, on-demand consultations with pharmacists, fast and reliable delivery, and convenient payment options<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Ensure compliance<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Compliance with healthcare regulations and data privacy laws is crucial to the success of your digital pharmacy startup.<\/p>\n\n\n\n<p>Ensure that you comply with all relevant regulations and maintain high standards of privacy and security for patient data.<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\">Build strategic partnerships<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Building strategic partnerships with healthcare providers, pharmacies, insurance providers, and technology companies can help to expand your customer base and increase revenue streams.<\/p>\n\n\n\n<h2><strong><strong>Why should a digital pharmacy offer a virtual care service?<\/strong><\/strong><\/h2>\n\n\n\n<p>You must have heard about <strong>PocketPills &#8211; an Ontario-based online pharmacy startup.<\/strong> It has been focused only on delivering online pharmacy services to users since its inception.<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">But during the pandemic, PocketPills rolled out a new feature to let its users seek virtual medical consultation from healthcare providers through the same platform.&nbsp;<\/span><\/p>\n\n\n\n<p>What do you think? Why would a pure online pharmacy startup adopt a hybrid model and try to be a telemedicine startup as well?&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">The answer is simple. PocketPills receives customers only after healthcare providers prescribe the patients. So, why not bring healthcare providers themselves on a sales life-cycle to first get more customers and then generate extra revenue?&nbsp;<\/span><\/p>\n\n\n\n<p><em>Indeed, this is the best strategic move!&nbsp;<\/em><\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Another reason is <strong>user requirements.<\/strong> It is very boring for patients to first receive medical consultations using some other app and then use another app to order medicine.<\/span><\/p>\n\n\n\n<p>It wastes patients\u2019 time and extends their clinical journey. Thus, patients always opt-in for a platform that makes them talk to healthcare providers and order medicines without switching between apps.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">So, if you are also planning to start an internet pharmacy startup like Capsule, it is advisable to offer virtual care service from the same platform by adding telemedicine-centric features.&nbsp;<\/span><\/p>\n\n\n\n<h2><strong><strong>The entire process of building a mobile\/web app for an internet pharmacy<\/strong><\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1080\" height=\"2598\" src=\"https:\/\/www.syscreations.ca\/blog\/wp-content\/uploads\/2023\/07\/process-12345-1-1.png\" alt=\"\" class=\"wp-image-32891\"\/><\/figure>\n\n\n\n<h1><strong>This is exactly how we will help you start a pharmacy startup like Capsule&nbsp;<\/strong><\/h1>\n\n\n\n<p>We are <strong>Ontario-based<\/strong> healthcare-focused healthcare tech, compliance, and business experts.<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">We aim to make the startup journey of healthcare entrepreneurs easy by offering them all <strong>tech, business, and compliance<\/strong> help in one place.<\/span><\/p>\n\n\n\n<p>Our healthcare <strong>app developers, designers, business experts, and compliance specialists<\/strong> will offload all of your tech, business, and compliance challenges and offer you peace of mind.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">From the discovery phase to market launch, we\u2019ll plan everything at the micro-level with our 8+ years of healthcare-specific experience.<\/span><\/p>\n\n\n\n<p>Be it a <strong>pharmacy app, compliance requirements, or business strategies,<\/strong> we\u2019ll execute our job with <strong>Canadian standards of quality and innovation.<\/strong><\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">We\u2019ll prepare workflows, documentation, and UI\/UX before writing the code. And once the tech platform for your pharmacy startup is coded, we will test it and run a compliance audit.<\/span><\/p>\n\n\n\n<p><em><strong>Because developing an epic app or platform is not just about code!<\/strong><\/em>&nbsp;&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">(At least this is what we have discovered as the major reason behind the growth of all our healthcare clients!)<\/span><\/p>\n\n\n\n<p>Fill out the <a href=\"https:\/\/www.syscreations.ca\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\">contact form<\/span><\/a> and let\u2019s discuss how we can assist you in developing your pharmacy app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, you can happily blame 2020 for making people order even medicines online!&nbsp; But what started as the compulsion to get medicines while avoiding coronavirus has now become their most preferred way to buy medicines.&nbsp; The question is, are you equipped with the right technology to cope with new consumer behavior? Our other interesting resources [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":27419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Start a Digital Pharmacy Startup Like Capsule?<\/title>\n<meta name=\"description\" content=\"New York-based online pharmacy startup Capsule raised $300 million. 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