How a prescription platform creates the pharmacy of the future

When the person at the counter asks, “Down Do you have any questions for the pharmacist?” it is difficult for the consumer to react. After all, there are probably a few concerned people waiting in line. And it may happen that they have questions Later, after digesting side effects, warnings about interactions AND other information included with the prescription. This is a situation perfectly read by Great Britain the leading professional magazine for pharmacists who recently announced: “Pharmacists are the new doctors.”

In pursuit of increase capacity Down consumers to interact with the reality of the pharmacy as Healthcare hub, MedAdvisor, a provider of solutions for digital pharmacies, intends to complete the digital transformation of the pharmacy. MedAdvisor works to improve patient outcomes and streamline the pharmacy experience through two-way technology and data-driven solutions.

Rick Ratliff, CEO of MedAdvisor, told PYMNTS’ Karen Webster that he sees a future where pharmacies seamlessly combine in-store and online services.

“We are focused at this stage just in time helps empower what we call the pharmacy of the future,” Ratliff said. “The pharmacy is changing and in the future it will probably be a combination of stationary sales, online sales and the ability to come into the pharmacy and contact a pharmacist – something that cannot be done through clean Internet environment.”

As pharmacies become an increasingly integral part of the healthcare system, MedAdvisor recognizes the importance of leveraging technology to increase patient engagement and medication adherence. Ratliff pointed out that patients interact with pharmacies eight to 10 times more often per year than with their primary care physicians, making pharmacies a key touchpoint for patient care.

“These are our trusted advisors,” he said. He believes this increased interaction creates an opportunity for pharmacies to play a more active role in managing patient health and improving patient outcomes.

Chance Rx

To capitalize on this opportunity, MedAdvisor has developed a multi-channel engagement platform that integrates with pharmacy systems. This platform allows pharmacies to communicate with patients through a variety of channels, including direct mail, text messages and pharmacy apps. Ratliff believes that by providing targeted, personalized information about medications, side effects and adherence, MedAdvisor helps pharmacies build stronger relationships with patients and improve overall health outcomes.

One of the key challenges in healthcare is medication adherence. As Ratliff explained, “About 18-20% of people who just start taking (certain) prescriptions don’t even fill them at first. And those who do fill medications, about 20-25% of them quit after the first or second prescription.” Poor adherence can lead to worsening health, increased health care costs and avoidable hospitalizations.

To address this issue, MedAdvisor has developed a machine learning and artificial intelligence (AI) platform called THRiV that helps identify patients at risk of nonadherence and optimizes communication strategies to encourage better medication management.

THRiV analyzes prescription data from more than 30,000 U.S. pharmacies, representing approximately two-thirds of the U.S. population. Using this data, MedAdvisor can help pharmacies and pharmaceutical manufacturers reach the right people with the right message at the right time.

Ratliff noted that this targeted approach has led to a 15-20% increase in first-line patient use for some drugs. “We implemented a program for a brand manufacturer that is marketing an injectable product that lowers cholesterol levels,” he explained. “We saw, if I remember correctly, about a 15-20% increase in first-fill rates as a result of providing the right communication to the person at the right time.”

Digital first

MedAdvisor’s digital-first approach aims to reduce the complexity of medication management for both pharmacies and patients. The company’s medication management application connects users to local pharmacies, allowing them to upload eScripts, pre-order medications, and have them ready for pickup or delivery. Manufacturer-approved content and information throughout the entire process Is provided to keep patients informed and safe.

Earlier this month, the company launched its Omnichannel Engagement solution for pharma, powered by THRiV. This advanced technology personalizes patient interactions and notifications, enabling patients to ask questions and receive FDA-compliant answers about their medications in real time by interacting with an online avatar, reducing the need to use “Dr. Google.”

THRiV helps optimize the frequency and focus of communications and, Ratliff said, helps ensure that manufacturers and pharmacies do not overpay for their outreach efforts. MedAdvisor’s main clients are pharmaceutical manufacturers using a revenue sharing model. The company also facilitates vaccine administration. Success is measured by prescriptions ordered, filled and used, as well as click-through rates for digital reach and interactions.

“We do an ROI analysis on every program we run,” Ratliff said, adding that telehealth may become part of their strategy in the future.

While technology is central to MedAdvisor’s mission, Ratliff emphasizes the importance of maintaining a human connection. “Telehealth will just be part of the overall experience,” he said. – Some pharmacies do Actually are starting to partner with local doctors for telehealth. So if you really need to see a doctor and you are with a pharmacist and there is no clinic at the pharmacy, you can connect with a doctor via telehealth.

Ratliff said this hybrid approach, combining the convenience of digital solutions with the knowledge and personal touch of healthcare professionals, is key to MedAdvisor’s vision for the future of pharmacy. By leveraging technology to streamline processes and increase patient engagement, while maintaining the crucial human element of care, he said the company can help create a more efficient, effective and patient-centric pharmacy experience.

As MedAdvisor continues to innovate and expand its offerings, the company remains focused on its core mission: improving patient outcomes through digital transformation. “There is no doubt that technology presents many opportunities to improve the overall pharmacy experience and manage medications more effectively,” Ratliff told Webster. “This will have a positive impact on health care costs and patient outcomes.”