‘Uber for pharmacies’ launches
Shares in listed tech outfit MedAdvisor are up by almost 25 per cent after the company announced a new delivery initiative, with Amcal and TerryWhite on board.
Shares in ASX-listed tech provider MedAdvisor are up by almost 25 per cent, after the company announced a 'Uber for pharmacies', allowing the likes of TerryWhite Chemmart and Amcal to deliver medications to patients during the COVID-19 crisis.
MedAdvisor chief executive Robert Read said his company's software will facilitate pharmacists' ability to claim their part of $25m in new federal government funding to support pharmacist delivery services.
“Fast-tracking the launch of MedAdvisor’s medication home delivery service is necessary to help reduce panic buying, relieve pressure on pharmacists, protect patients from unnecessary exposure, and provide access to critical medications," he said.
He added that over 30 per cent of MedAdvisor’s app users are over 60-years-old and therefore deemed high-risk patients if they were to contract COVID-19.
“Australia’s GPs and pharmacists are at the frontline of this COVID-19 crisis. By boosting the technology platforms they rely on with much-needed features like online ordering and delivery, we can enable pharmacies to receive and seamlessly process medication requests and handle their payment, directly reducing the number of patients having to leave their home, and help put an end to the burden of in-store shelf stripping many of these outlets are contending with.”
Mr Read pointed to MedAdvisor’s data which showed that compared to three weeks ago, orders are up more than 130 per cent on the platform. In a signal that patients are concerned about future stock, the number of orders for Panadol doubled in the past week, and the dollar value of orders also increased.
He said MedAdvisor has had more orders, of more items and a higher dollar value per order, despite restrictions that only allow patients to get one month supply on medications and children’s Panadol moving behind the counter.
MedAdvisor has also ramped up support for its remote GP script ordering service so patients can have scripts written, filled and delivered without needing to visit a GP clinic and pharmacy.
Shares in MedAdvisor were up 24.24 per cent to $0.41 at 3.40 AEST.
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