An example of medicine-on-demand occurred in 2009 when IBM assisted a humanitarian effort in a remote area of Africa.
Investors have noticed that people’s demand for affordable and accessible healthcare solutions continues to rise. Funding for on-demand medicine companies has drastically increased in recent years. According to Healthcare Dive, a site that reports on health trends, money spent on digital therapeutics companies within the United States has risen an average of 40% annually for the past seven years.
Many shareholders are keen to back digital healthcare projects due to the lucrative ROI potential. Not to mention the positive community impact these apps and tech healthcare solutions can bring.
What is medicine on-demand?
When one utilizes a mobile app or website to have a prescription filled and delivered, they access medicine on-demand. This term refers to using technology, such as smartphones and the internet, to make medicine more readily available.
Ravkoo Health is an example of a medicine on-demand provider. Once this app is downloaded onto a person’s phone, they receive access to several healthcare services, such as Ravkoo RX. With Ravkoo RX, registered users can order their prescription from their cell phone, delivered to their doorstep for free.
The streamlined process of digitized healthcare brings new and exciting opportunities for consumers to control and participate in their wellness.
The benefits of medicine on-demand:
Medicine on-demand has shown several benefits, including:
Digitization offers an efficient and convenient pharmacy experience and plays a significant role in where consumers spend their dollars. Why drive to a pharmacy when you can fulfill your prescription and receive it via a mobile app?
Ravkoo RX, for instance, offers its members the ability to control their prescriptions with only a few taps on a phone screen. This handheld convenience empowers consumers to complete this crucial healthcare task without going out of their way, driving anywhere, or waiting in line-ups.
2. Centralized record storage:
Digital pharmacies keep track of every member’s purchase. The centralized storage of prescription records promotes consistency for consumers when completing future orders and, in some cases, allows the pharmacy to ensure drug tracking to avoid overuse or repeat orders.
Furthermore, record keeping can help doctors identify drug responses to modify them accordingly.
A more centralized system of storing prescription records can significantly improve a person’s healthcare experience by removing the guesswork. For instance, when a someone consults a physician, they can tell their provider about past or current prescriptions and with a solid reference point.
Also, for those who require monthly medicine fulfillment, having a digital date record helps with consistent ordering patterns.
3. Cost-friendly pricing:
Medicine on-demand reduces the number of mediators between a patient and the medicine received, so the cost of prescriptions is usually lowered.
Furthermore, many online pharmaceutical portals offer discounts for customers through membership cards or cash-back incentives. Because medicine-on-demand is a competitive market, providers do their best to offer consumers cost-effective incentives.
4. Ease of use:
Online pharmacies are available on mobile apps or the web. Therefore, in theory, all a person requires to access medicine on-demand for service is a stable internet connection and a working mobile device.
Similarly, consumers can have their prescriptions fulfilled from home and delivered to their doorstep, while providers are more easily able to track vital information.
5. Informed decision-making:
Important information about prescribed drugs, such as chemicals, alternatives, side effects, and pharmaceutical interactions, helps consumers make informed decisions. They also gain access to their purchase and medication history, which helps keep them and doctors updated and informed.
Moreover, people can see their prescription records and allergies, allowing them to remain active participants in their healthcare experience.
6. Convenient delivery:
Prescription delivery, which many medicine on-demand services offer, means that the person ordering has more time to focus their energy elsewhere instead of waiting in pharmacies or driving in traffic.
Also noteworthy, remote medicine ordering and delivery allows those who are busy, in remote areas, or who have mobility issues to access their prescriptions conveniently.
Medicine on-demand put into action:
An example of medicine-on-demand occurred in 2009 when IBM assisted a humanitarian effort in a remote area of Africa. Since mobile phone service was becoming increasingly common, even in remote parts, a solution to track and manage the crucial supplies of anti-malarial drugs became possible with the help of SMS technology, websites, and mobile devices.
What resulted from these efforts? According to an article released by IBM, the benefits were immediate. During the first couple of weeks of the project, medical facilities that ran out of medicine was reduced by 75% in one district alone.
This project illustrates how innovative, inexpensive, and simple technologies can enhance the medicine supply chain and even assist in saving lives.
The future of medicine on-demand:
Apps like Uber and Postmates have positively disrupted the market by offering consumers fast, streamlined service at relatively affordable costs. The healthcare industry is also hot on the trail toward service digitization.
Statista’s predictions show that the global online pharmacy market is projected to reach about 128 billion dollars by 2023.
With future predictions of a booming market, we can expect continual innovation of medicine on-demand. Much as we have seen drastically reduced shipping times for companies like Amazon, perhaps this is the same for online pharma. Delivery times could become mere hours or less, and we might even see the implementation of drone delivery.
Consumers continue to ask for convenient medical options, and tech healthcare solutions are eager to provide them. Digital mobile apps like Ravkoo Health feature absolute convenience for registered users.
Ravkoo also offers a centralized location for members to utilize current health information to further empower their wellness. Similarly, they can also order at-home lab tests and book remote consultations with doctors and mental health counselors at an affordable cost.
Wrapping it all up
Medicine on-demand truly brings consumers a new level of simplified access to their important medicine. Being able to order and receive your prescription from the comfort of your home means extra time in your day.
To sum up, we’re at a critical time as a society. The healthcare industry must continue adapting to the increasing demand for fast, convenient wellness solutions.