Curious case of Online Pharmacies in India

Curious case of Online Pharmacies in India

Healthcare is one most critical industries in the world with a global objective to keep all living beings alive and healthy. Humans form the largest target population that is catered by this industry. Different countries have different standards of care and approach extended to their fellow human beings.

A classic healthcare stakeholder breakdown would look like

  • Doctors
  • Hospitals
  • Clinics
  • Paramedic staff
  • Retail Pharmacies
  • Pharma Manufacturer
  • Pharma Supply Chain
  • Govt Regulator/Medical Law
  • Govt Ministry
  • Medical Councils
  • Medical Education Institutions

Each one of them have a specific role to play to achieve the larger goal of a Healthy Citizen, Healthy Nation!

In every era of evolution unless all stakeholders are part of the evolution, seldom an industry will evolve and mature to survive the change and create a significant impact.

Some of the important stakeholders but often the laggards in the entire Healthcare Industry are the pharmacy and its supply chain.  World over, this segment is often always considered less significant contributor to the ecosystem. But without them the circle of care is incomplete.

In the era of Digital Transformation in Healthcare, especially in India getting these stakeholders part of the evolution is critical. Today, Pharmacies in India are just medication “Dispensing Agents” that add very little value to the patients. However in the west, Pharmacy play a critical role in patient care as being a  critical stakeholder in the patient’s health by actively participating in their medication life cycle. In healthcare, market cannot function as “Shape up Or fall behind” attitude just because of the sheer challenge of accessibility and affordability of Healthcare Services in India

With the onset of eCommerce reaching its heights and Online Pharmacies/Online Ordering of Medicines are considered to be the next BIG LEAPFROG Opportunity in Healthcare in India. Online Pharmacy is touted to be a USD 7bn market in India.

India is housing over 800,000 Pharmacies with over 60% of them in Tier 1 and Tier 2 cities with a growth of 30%. Unorganized pharmacies comprise of the largest segment with over 95% of the market while the organized pharmacies are limited to a few regional brands. Of these 95% of unorganized market, less than 40% use some software that enables them  track their P&L and provide computer generated invoice/bills to the customer!

With Consumers getting online every day through web/Mobile, Online pharmacies are a huge opportunity. An aggregation model is the way to succeed in this segment, as its highly controlled regulated industry, just like in any part of the world and it has to be.

An aggregation model will be successful, only when these pharmacies adopt the digital transformation with open arms and have a change in mindset from being a Dispenser to become a Stakeholder in Patients Health by leveraging technology.

A digital adoption means to adopt Connected Systems that connects various stakeholders in Out Patient Care, where a Pharmacy is on the cloud while he runs a Brick & Motor store. The store can operate a lot more efficiently in managing stock, reducing losses due to expired/expiring drugs, greater patient relationship and negotiating better rates with his suppliers and welcoming online orders from all sources to service his neighborhood customers.

Our Platform is the solution that is at the cusp of this Digital Transformation, which uses a connected platform approach in connecting various stakeholder in Out Patient Medication care through different solutions that is enhancing individual business operations and yet connected to each other by being patient centric. – A Platform and CRM + ERP for Pharmacies – A Platform and CRM + ERP for Distributors – Mobile App for On Demand Out Patient Healthcare – Medicines and Health Services – Mobile app based ePrescription for Doctors is the only Cloud based solution stack in India, that enables pharmacies to truly get online by powering their focus on Patients and streamlining their operations through cloud and mobile technology

We believe strongly that Pharmacists need to have a change in mindset of becoming a key stakeholder and not just a dispensing agent. Until the Pharmacies and the supply chain are online across India, every attempt to disrupt and innovate will be met with partial success and not a transformation.

India’s next BIG LEAPFROG opportunity is to bring Healthcare Online and Digital and we are very hopeful of playing a key role in the larger purpose of Healthy Citizens, Healthy Nation!