The platform is similar to other recent digital platforms in that it is designed to reduce drug costs.
One of the main issues impacting the pharmaceutical industry is the cost of medications. Recently, several digital platforms have launched with the mission of providing more competition by providing purchasers with more options for buying drugs. While the most prominent of these platforms have been based on a direct-to-consumer model, there are other platforms that are designed for pharmacies to use as well.
PrimeRX announced the launch of a new platform aimed at pharmacies named PrimeRX MARKET.1 This platform will provide users with access to over 40 different drug suppliers, along with the ability to place all of their orders through one platform, and provide research on drug prices.
In a press release, PrimeRx CEO Ketan Mehta said, “We are thrilled to introduce PrimeRx MARKET to our solutions portfolio. PrimeRx has a strong track record of simplifying complex challenges. The drug procurement process for pharmacies, a major expense, requires precise contract compliance and inventory management to maintain cash flow and profitability. PrimeRx MARKET empowers pharmacies to source drugs intelligently and conveniently by integrating purchase and dispensing data, ensuring compliance and market agility. Our goal is to use data intelligence to streamline purchasing decisions, enabling pharmacies to remain profitable and dedicated to serving their patients."
This is just PrimeRx’s latest digital announcement. In June, the company also announced PrimeRx Cloud, a platform designed for independent pharmacies to use to aide in managing their operations.2
In a press release issued at the time, Mehta said, “PrimeRx Cloud is the next step in pharmacy technology. We are proud to offer this addition to the PrimeRx product portfolio, which addresses the need for users to have flexibility in where, when, and how they manage their pharmacies."
In the same press release, PrimeRX’s chief technology officer Darrell Hyde said, “PrimeRx Cloud solves a number of serious problems facing today's busy pharmacies, including the need for increased flexibility and reduced IT overhead and risk. Pharmacy management no longer takes place just behind the pharmacy counter. Today's pharmacy owners are checking in from home, often long after the pharmacy has closed for the day. PrimeRx Cloud enables the modern owner to operate from anywhere while also removing the need to operate complex IT infrastructure in the pharmacy."
Tillmann Schwabe, chief sales and marketing officer at PrimeRx, added, “PrimeRx Cloud supports our goal of helping pharmacists build healthier communities. Our browser-based solution makes it easier for pharmacists to serve their patients, namely by reducing the administrative workload, which allows more time for in-person interactions."
Fake Weight Loss Drugs: Growing Threat to Consumer Health
October 25th 2024In this episode of the Pharmaceutical Executive podcast, UpScriptHealth's Peter Ax, Founder and CEO, and George Jones, Chief Operations Officer, discuss the issue of counterfeit weight loss drugs, the potential health risks associated with them, increasing access to legitimate weight loss medications and more.
The Transformative Role of Medical Information in Customer Engagement
October 3rd 2024Stacey Fung, Head of Global Medical Information at Gilead Lifesciences, delves into the evolving role of Medical Information (MI) in the pharmaceutical industry. Covering key topics like patient engagement through omnichannel strategies, combating misinformation, and leveraging AI to enhance medical inquiries, the conversation with Stacey highlights MI's critical role in ensuring patient safety and supporting drug development. She also shares her professional journey and tidbits for early career professionals on professional development.