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ScriptsReady

ScriptsReady

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ScriptsReady is a Prescription Platform that cuts out the waiting time of Prescribed medication at the Pharmacy.

Venture Concept Overview

In Australia, the average wait time
for getting prescribed medication would be 15-20 minutes. In high-demand hours,
the wait time can potentially go up to nearly an hour. For busy workers and
elderlies, this causes a great inconvenience. Patients not only have
to encounter difficulties in dealing with the disorganised dispensary system,
they sometimes even have to travel around to various pharmacies to look for
their out-of-stock medication. As a result, medication nonadherence becomes a
growing concern because patients decide to skip their medication by the long travel time, and wait times. Moreover, the mounting workload becomes the impediments for pharmacists to check whether the correct medications are
being dispensed, which could lead to significant medical error and ‘horrible’
death.

 With ScriptsReady, patients can simply take a photo of their prescription and send it electronically to a selected pharmacy. They can pick up at any time without the long wait in the queue. With the problem of medication shortages and out-of-stock drugs, the application could notify patients to collect their medication when it is back
in stock (and also provide information to pharmacies for stock replenishment).

Our
main Customer is Pharmacies. As of March 2015, there are 5371 registered
pharmacies (Pharmacy Board of Australia). Our adopters of the Platform are
Users – Patients and their Caregivers.

Over
200 million prescriptions are dispensed every year in Australia (figure from
Pharmacy Guild of Australia, 2015) bringing opportunity for ScriptsReady. As
the population grows, medication prescriptions has increased significantly and
this is estimated at 298 million for the 2016/2017 in Australia (The Australian
Department of Health, 2016)

The
idea was really born out of our own need. Every month when I visit the
pharmacy, I wait in line for the first available assistant who takes my
details, then I wait another 20 minutes for the medication to be prepared and
then I need to wait in line again to pay for the prescription at the counter.

Joanna
working as a Pharmacy Assistant, sees the problem everyday, having first hand
experience with the problem of long wait times for dispensing Pharmacy
medication. We see a need for change and innovation on how pharmacists can
dispense medication more efficiently through the use of technology.

To
generate revenue we plan to charge Customers a Monthly Subscription Fee of
$50/month per Customer to license the Platform. An additional $0.10 cents will
be charged per prescription sent through the Platform.

Paid
Customers:
• Pharmacies
• Aged Care Homes • Hospitals

To
date, ScriptsReady has secured 2 Pharmacies to pilot the Beta version of
ScriptsReady.

We are asking for funding to the amount of
$10,000.00 to help contribute to building our beta.

We have 2 quotations for building a
Beta from a Tech Company – Adaptry, North Sydney) and from Elinext Group –
Vietnam.  Adaptry quoted $15,000.00 and Elinext Group quoted $10,000.00
the building the beta version of ScriptsReady.

The Idea





 

 

Drug/Medication prescribed by an Australian
registered Doctor and send it electronically to a selected Pharmacy (Customer)
of their choice.

 

 

This will allow the medication to be
dispensed and packed ready for pick up or ready to delivered to a registered
address. Upon pickup, customers hand over their paper script at the same time
that they collect, ensuring that all Pharmaceutical Benefits Scheme
requirements are met.

 

 

The Customer problems we are solving are:


 

 

• Inefficient medication dispensary ( average
wait times of 20 minutes )


 

 

• Poor medication compliance ( lack of
medication in stock at pharmacies )

 

 

• Unsecure prescribing ( invalid
prescriptions / out of date prescriptions)

 

 

And the solution to these problems for our
Customers and Users is:

 

 


• Save time and avoid pharmacy lines. Send
your prescription through the app and pick up when you want and where you want.
No waiting in line for your medication and no waiting in line to pay for your
medication

 

 


• Pharmacist can order the medication in
stock ahead of your pickup time / some pharmacies may offer a delivery service
for repeat medication

 

 


• Pill reminders / inventory control of
medication supplies for the patient


 

 

• Allow family members to manage your
medication

 

 

This makes medication more accessible and
convenient for Patients creating positive social impact for the community.
Our
vision is to improve the health outcomes by making it easier and safer for
Patients to manage their medicines. We recognised the need for easier and
quicker access to obtaining prescriptions anywhere, anytime. 

The Market

This application appeals to all age groups.  There are busy moms and dads who work full
time with sick children to look after.  The ageing population family members can pick up on their behalf.

Then are those that skip medication. If someone fails to take medication when they’re supposed to or someone who skips blood pressure medication they are more likely to develop a heart condition that costs far more to treat in the long term.

And in terms of what this would be assisting customers with, the greatest currency

of the modern era is time and we live in the age of convenience and instant gratification.

Consumers have become accustomed to opening an app and ordering

 


everything 

 

The Competition

Our top competitors in this Space is eRX
Express and Doctus Online Consultation.

1) eRX express does not work with 80% of the
prescribed medication. eRx express uses QR codes to scan scripts to Pharmacies
however an initial prescription provided by your GP will not include a QR code.
The QR code can only be printed by a Pharmacy on repeat medication.
QR codes
are not always accurate and are hard to scan. We found trying to scan a QR code
through eRX express took more that 10-15 seconds before the scan could read the
QR code. This makes the platform difficult to use for those non tech savvy
users.

2) Doctus is a web service that links
patients in need of a prescription with real doctors online. However since the
service is online, Doctus can only dispense the medication or prescription
overnight, no same day delivery. The patients will not received their
medication on the same day as the online consultation. Doctus cannot provide
the concession/pension discounts.

A Competitors’ SWOT Analysis is as follows:

Strengths

• Part of a larger/global company
• Prior
experience

Weaknesses


• Not specifically tailored to needs

Opportunities


• Taking advantage of interest

Threats


• Cannot target locally

 

The Vision

Our main target Customer are Pharmacies. As of March 2015, there are 5371 registered pharmacies (Pharmacy Board of Australia). Our adopters of the Platform are Users – Patients and their Caregivers.


Health in general lies at the heart of the economic, political, social and environmental prosperity of a nation. With exponential leaps in digital technology and the ubiquity of smart devices, mobile health (or mHealth as it’s known), can address many of the issues surrounding the rising costs of healthcare.

 

There are certain health conditions that are expected to be a challenge to our health care system with the increasing aging population. These conditions include cancer, dementia, increase in the number of falls, obesity, and diabetes.


We believe that as life expectancy increases, the prevalence of disability will increase.


All these conditions will include some form or treatment and medication.


Expansion of the global mHealth market will see revenue increases of nearly six-fold to $23 billion by 2017 (PwC and GSMA study), representing a massive value creation opportunity for multiple stakeholders across the world. The growing need to find solutions to the economic health drains will be utilised by mHealth to its fullest potential in the coming years, with the likes of mobile operators, device vendors, content and app creators and healthcare providers all seeing the potential.


Global value of mHealth App Market – Value in 2017 is estimated to reach $26.9b globally, quadrupling 2015’s $6.4billion. 

Mentor Pitch

prescription and send it electronically to a selected Pharmacy. They can pick up whenever they want- without the long wait in the queue. ScriptsReady cuts out the waiting time.  All the medication instructions are recorded and can be translated in the app so that patients can take their medication with no pressure. If the prescribed medication is out of stock, the app will notify the patients the particular pharmacy that has it in stock, so that patients do not need to spend time travelling around and looking for their medication. ScriptsReady solves all the difficulties and alleviate our pressure.

 

 

We all experience these problems yet no one is fixing it. We want to be the ones who can save patients’ time and more importantly, their lives.

 

We are at early stage but we have the
team and passion to make this happen but we need the help from a Mentor with experience in HealthCare Startups to get this off the ground.


We are looking forward to working with our Mentor in turning this game changing idea into a business ready investment.

 

 

The Customer Experience

 

 

As the business grows, recruitment of a sales / marketing team will ensure the expansion of our customer base.  Marketing agencies are also and option to ensure product gains traction and awareness amongst the general public.

To keep our Users engaged the most effective way to communicate is through the APP, users will have reminders appear on the icons for repeat medications and medication due to expire.  There will also be a loyalty rewards system within the APP providing discounts on spending in stores and Promotional discounts on certain types of medication.

 

A customer feedback option will allow us to monitor the user experience.

The Team

We believe we are the right people to turn this idea into success because:

 


• We are passionate Founders we are young can learn new things quickly, can process information and make smart
decisions

• Our credibility
• Experience in the field and Industry Knowledge

• Access to Users (Patients and Caregivers) and Customers (Pharmacies, Aged Care Homes, Hospitals)

• Strong Network of Advisors and Mentors 

 

Our Partners

 

technical support team.

 

Other areas of expertise include operational staff to cover support, accounting, legal, grant assistance (R&D, AC grants) and business systems.

Funding Sought

The main costs of associate with launching the venture is building the App for Users (Patients and Caregivers) and and the Web Interface for the Customers (Pharmacies, Aged Care Homes, Hospitals).

We have received 2 quotations for building a Beta Version from a local Tech Company based in Sydney (Adaptry, North Sydney) and from Elinext Group (Vietnam).  Adaptry quoted $15,000.00 and Elinext Group quoted $10,000.00 the building the beta version of ScriptsReady.

 

Other setup costs include Office Equipment from Officeworks:

– 1 x PC $600.00

– 2 x Workdesks $400.00

– Stationary $100.00

– 1 x Laptop $1500.00

We found Officeworks to be most competitive offering 5% discount if we could find a more competitive price from its Competitor ( Harvey Norman , JB HI FI)

 

To incorporate a company costs $900.00 includes ABN, ACN and GST register.

Insurance will depend on the office premises and the final office equipment required to setup.

 

Worker’s Compensation will depend on the level of employees and wages.

 

 

 

Our Partners

 

We proud to be in the process of signing our first customer to test our beta Version.   Steven Nguyen from Red Hill Pharmacy will be the first customer to pilot the beta version.

 

Steven believes we have the creativity and technology experience to design a solution that improves issues that Steven sees day to day at work.

 

Steven has donated much valuable time in helping us understand more about the medication dispensary procedures and the process for dispensing medication.  We have found other areas where we could add value for our Customers.  The main benefits we could explore is to create a Network / Co-op of Pharmacies to collective buy giving Pharmacies more bargaining power such as Chemist Warehouse.

 

Capturing Value

 

 

 

 

 

 

ScriptsReady is proposing a Platform that will provide an opportunity for the Pharmacy of
the future. Our unique model tailors the product to the end user while our
customers are businesses providing care for those users. The patient, our end
user, sees three core components when using the app while our customers
(Pharmacies, Aged Care Homes and Hospitals) – receive added value in:

– Innovation

Paid Customers :

– Pharmacies

– Aged Care Homes

– Hospitals