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Home » E-Pharmacy Business Model: The Future of Drug Prescription
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E-Pharmacy Business Model: The Future of Drug Prescription

zestful GraceBy zestful GraceJune 26, 2024No Comments4 Mins Read15 Views
E-Pharmacy Business Model
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E-commerce outlets have completely changed the shopping patterns. Customers have embraced the concept of convenient shopping, and it is now evident that the biggest percentage of shoppers today prefer doing it at the comfort of their phones or laptops.

Drug outlets have not let online disruption pass them by. More and more licensed pharmacists have been setting up online shops, aiming to gain a bigger market share while cementing their customer base. Online pharmacists have adopted e-prescribing technology that makes prescription, ordering, and delivery of drugs seamless.

What is an E-Pharmacy?

E-Pharmacy refers to the online purchasing and handling of medicine. The customer contacts the doctor or physician through an online platform through which they receive the right prescription. 

E-Pharmacy is structured to make prescription easy, as well as increase patient safety through thorough and structured examination.  

Initially, e-pharmacy was just an alternative way of obtaining medication. However, more patients recognized online pharmacists’ convenience, and the niche grew exponentially. 

How Does E-Pharmacy Work?

An e-Pharmacy works exactly like a traditional retail pharmacy, only that in this case, order placement and completion are done online. The customers order their prescription (or non-prescription) drugs from an e-commerce website or application, paying for them using the accepted payment method. 

Once the online pharmacy receives the order, a pharmacy team (which must include a licensed pharmacist) packages the right prescription and sends it to the customer through mail or an agreed courier service.

The best thing about an e-Pharmacy is that the customer does not need to call in a prescription, walk or drive to any drug store, or even wait in a long line. 

Every e-pharmacy platform must follow all the government regulatory standards. 

Advantages of an E-Pharmacy 

The following are the advantages of mail-order prescriptions 

Recurring Income

Most e-pharmacies prefer to go with a subscription model since it reduces costs on the customer’s side while being very profitable in the long run. With the subscription model already popular in a range of industries, pharmaceuticals find it relatively easy to enroll customers.

Once customers get used to digital prescriptions, subsequent orders become easier and more convenient to make, providing recurring income to the business. 

Consolidating Prescriptions 

It is not uncommon for patients to have their medications in multiple locations, either because of relocation or the establishment of a newer pharmacy outlet near them. 

E-Pharmacy helps customers get all their prescriptions in one place, even better, at the comfort of their mobile phones.

Reduced Overheads

The most obvious advantage of a digital pharmacy is its cost-effectiveness. Overheads such as rent, power, and other bills are greatly reduced as automation enables the outlet to reach a larger audience with few employees. 

Reduced Customer Interactions

Although this point might seem callous at first, it is worth noting that most of a pharmacist’s time in a physical store is spent dealing with patients/customers. Most pharmacists would agree that these interactions do not necessarily need to happen, as most of them involves verifying customer details manually. 

E-Pharmacy provides a self-service portal where customers fill their personal details.

Advantages of E-Pharmacy to Customers

Patients have greatly benefited from the services of online pharmacy Michigan in the following ways:

Time-Saving 

With an e-Pharmacy, ordering a prescription medication is just with a few clicks. These platforms make it easier for elderly, disabled, and those with busy schedules to easily have their drugs ordered and delivered.

Saving Money

Apart from providing convenience, online drug stores help the customer avoid travel costs related to acquiring drugs, especially if one has to visit different drug stores. 

Privacy

There is unparalleled levels of confidentiality and privacy in e-Pharmacy. Regardless of your gender identity, health issue, age, or even status, digital pharmacy eliminates anxieties of having to speak face-to-face with a pharmacist. 

Reduced Medication Errors

Due to long lines and fatigue, there is a chance for a pharmacist to make an error in prescription, which could lead to a serious medication error.

An online platform is more relaxed, and there is a lot of cross-checking done to ensure the right order is shipped to the customer.

Conclusion

E-Pharmacy has already taken off, and just like with other e-commerce sites, it will continue to add even more advanced features. For the pharmacy owners still operating brick-and-mortar drug stores, establishing an online pharmacy would make them competitive in the long run. 

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zestful Grace

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