Each student has been given a Med-E-Lert and along with the pharmacist will select an individual with a complicated medication regime to be given the Med-E-Lert. A comprehensive study will follow.
Recent developments addressing two of the most significant lost revenue challenges in drug store sales for pharmacies unfilled perscriptions and loss of customers to mail order pharmacies.
Published UK studies including a recent University of Birmingham, UK report (2008), as well as a new study about to be published, substantiate the increased benefits to patients and pharmacies of a new technology proven in England and which has recently been introduced to the USA.
The impact on pharmacies is simply that they can recover much of the lost perscription revenues that have plagued the industry for many years. The key is to tie a new category of consumer product, the Automated Pill Dispenser to the pharmacy operation, by offering a multi-dose pharmacy fill program. The impact on revenues driven from; customer conversions, re-acquisition and retention, increased refill rates, increased percentage of patients that fill 100% of their scripts at the pharmacy, pull through sales of other retail products, and finally new revenues from sales of a new product.
We, along with a select group of competitors, have developed a technology that has been proven in the UK and are bringing this to the US pharmacy market. This product category has been in the USA for a few years, but until now has been too expensive to create a significant opportunity for pharmacies. However, as a result of a technology and manufacturing breakthrough, we have broken the price barrier necessary to ignite the market and make this product something consumers will buy.