Increasing Patient Interaction
The pharmacy business is highly competitive with the likes of major retailers competing for market share. With increased competition, customer loyalty is waning and many consumers purchase medications from several pharmacies. In order to gain a competitive edge, Pharmacies are looking for new opportunities to increase customer loyalty, convenience and branding. RxPense®, a patented Medipense product, satisfies those needs.
In any competitive environment, market differentiation is a major key to market domination. Through the exclusive, by region (ideally nationally), distribution of RxPense®, we will deliver this market differentiation to the successful retail chain. Only the medications you prescribe, will work in the RxPense® supplied by your pharmacy to the specified patient.
As the senior population grows and as their importance to the individual pharmacy becomes increasingly important, the obligation to dominate this highly lucrative segment becomes more and more strategically important.
2012 Accenture Survey
“Is healthcare self-service enough to satisfy patients?”
- 90% of patients want online access to their health information
- 73% want to refill prescriptions though digital channels
- 88% of patients want to receive digital reminders
Other reports conclude that increasing patient interaction with the pharmacy through digital means, improves patient perception and use of the pharmacy. Furthermore, customers using pharmacy services are likely to make non-pharmacy purchases at the time of service.
JD Power, 2014 Study
Pharmacists and Staff Play Increasingly Important Roles in Pharmacy Customer Satisfaction
The importance of customers interacting with a pharmacist increases across the four pharmacy segments in 2014…. In brick and mortar stores, speaking to a pharmacist increases store spending!
JD Power, 2014 Significant Findings
- Satisfaction is higher when a pharmacy and customer collaborate on a plan to help ensure that the customer does not miss a dose of their medication, particularly those with a 30-day supply.
- Across pharmacy segments, the percentage of customers who report running out of medication before they can refill it is 13 percent for chain drug stores; 14 percent for supermarket pharmacies; 15 percent for mass merchandisers; and 10 percent for mail order pharmacies.
- Customer interaction with a pharmacist impacts additional store purchases. Among customers who speak directly with a pharmacist in a chain drug store, 29 percent purchase an over-the-counter (OTC) medication and 59 percent purchase an additional non pharmaceutical product to go with their prescription.
RxPense® can be the product and service that assures market dominance in this growing market. RxPense® can keep your patient informed, updated and refilled. RxPense® can increase communication between patient and pharmacy. Using RxPense® your customers will feel confident in knowing that their medications will never run out and you will have the ability to push directed information on their medications or pharmacy specials, 24×7.
RxPense® can also increase sales though increased customer loyalty. Increasing the number of loyal customers by converting non-loyal to loyal, branding and awareness campaigns will drive more customers to the pharmacy. In general, by increasing medical compliance of patients, pharmacies can drive additional revenue.
Increasing medication adherence directly increases sales; Journal of the American Pharmacists Association reports a 12%-32% relative increase in adherence results in 42 days of additional supply per patient/year.
New Revenue Streams
On the product side, your customers purchase, rent or lease RxPense® bundled with monthly subscriptions from RxPense® monitoring service. There are additional revenue streams including upselling customers with RxPense® devices through in-home delivery and specials linked to DisPill Deliveries. Notices on customers screens can be pushed – would you like facial tissues at 50% off this week when we next deliver your refill? Each RxPense® product has the ability to serve opt-in, targeted ads directly to consumers.