At this year’s Canadian Association for Pharmacy Distribution Management conference, Locke Bio CEO Cathy Tie outlined recent changes to the digital pharmacy landscape, explaining how Locke Bio builds a functional, compliant workflow for companies creating direct-to-consumer platforms looking to enter the digital health space.
Transformative changes are underway in healthcare, and the momentum is still building. While we’ve previously discussed the broader implications of investing in digital health technologies for increased efficiency and better patient care, it’s also worth understanding that both patient and practitioner behaviours in accessing health services must necessarily continue to evolve along with new treatment options.
Tech giants are increasing their efforts to acquire online pharmaceutical distribution partners and subsidiaries, and major retailers within the pharmaceutical space are doubling down on digital strategy.
The lessons learned around order fulfillment and customer acquisition and experience closely resemble major e-commerce operations, with the added challenge of interfacing with patient Electronic Medical Records (or EMRs) in a compliant fashion. Locke Bio is well positioned to act on insights from these developing markets.
The telemedicine market has multiplied in size many times over since the beginning of the COVID-19 pandemic. Thanks to billions of dollars of overall investment in the sector, many new tools now exist, and pharmaceutical providers and supply chain facilitators are eager to take advantage of the trend.
Ultimately, platforms such as Locke Bio exist to expedite connections between patients, doctors, and pharmacies that will enable the further development of this sector.