Customers are raving about NowRx – a tech-powered pharmacy known for its customer service and reliable free same-day prescription delivery.
Long lines, medications out of stock, poor customer service – these are just a few of the problems patients are facing at chain pharmacies across America.
And with store closures and staffing issues rising, things don’t look promising for 2022.
Fortunately, one company believes they might have the right prescription to fix all that using modern technology and a new approach to the traditional retail pharmacy model.
Meet NowRx – A Tech-Powered Modern Approach to Pharmacy
NowRx is a tech-powered pharmacy chain founded in Mountain View, CA that promises patients and doctors a more convenient, customer-friendly pharmacy experience.
Like CVS and Walgreens, the company offers a wide range of pharmacy services, but with some big operational differences that they believe offer customers a significant upgrade.
For example – NowRx operates out of local, low-cost “micro-fulfillment” pharmacies and offers patients free delivery in hours as opposed to chains that lease expensive retail storefronts and try to attract customers to walk into their stores.
Another example and what the company calls their key differentiator is their proprietary pharmacy software “QuickFill” and dispensing robotics that automate the prescription fill process – from insurance management to bottling, capping, and labeling the prescription – in under 30 seconds.
NowRx says this reduces their dispensing costs to a fraction of the major retail chains and more importantly, minimizes issues inside the pharmacy that produce poor customer experiences e.g., insurance delays, miscommunications with physicians, etc.
Other notable features of the tech include:
- An intelligent claims adjudication system that streamlines insurance processing and minimizes issues that cause delays.
- Machine learning programs that automate inventory management and purchasing to reduce out-of-stock situations.
- Automated discount search and application program that finds drug manufacturer coupons and automatically applies them to save patients money.
- An intelligent logistics platform that prioritizes prescription queues and schedules delivery routes to reduce delivery times.
- Text-based integrations and profile segmentation that allow pharmacists to easily communicate with patients and physician offices to reduce miscommunications.
“Complexities in pharmacy, coordinating with physicians, insurance, patients as well as navigating regulatory restrictions, make it extremely difficult to produce the kind of customer experience NowRx provides – even aside from delivery,” explained CEO Cary Breese. “Our technology allows us to manage these complexities in a way that chains just cannot do with their existing model.”
NowRx’s “QuickFill” technology won the 2021 White Coat Award for Highest Accuracy from SureScripts – the nation’s leading health information network.
A Prescription for Retail Pharmacy
NowRx saw some pretty incredible growth in 2021.
After watching revenue jump 90% year over year to $13.4M in 2020, the company achieved $25M in annualized revenue as of November with their newest telehealth product growing 1,081% from Q1 to Q3.
In addition, NowRx was recognized by Insider as ”1 of 55 startups to bet your career on”.
This year, the company has already announced several new locations for expansion and they hope to close a record $73M equity crowdfunding round with SeedInvest.
With consumer trends continuing to shift toward greater convenience and more customer-friendly services, NowRx will be a company to keep an eye on in 2022.
To learn more about the company and investment you can visit the NowRx SeedInvest investment page.
