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Medavail says pharmacy technology represents ‘significant growth opportunity’
The Fly

Medavail says pharmacy technology represents ‘significant growth opportunity’

The company said, "MedAvail’s pharmacy technology business represents a significant growth opportunity. Through this business, MedAvail offers customers the ability to purchase the MedCenter and to license MedAvail’s software in order to provide point of prescription dispensing solutions under their own brands. This offering generates a profitable recurring revenue stream and favorable unit economics, such as a gross margin for 2022 that is expected to be greater than 45%. MedAvail’s MedCenter technology platform enables remote medication dispensing through MedAvail’s proprietary kiosks which are integrated into the customers’ patient-care information systems. Patients interacting with these kiosks are able to consult virtually with a customer-employed pharmacist and to fill their prescriptions at the point of care through the MedCenter, eliminating the need to make a separate trip to a pharmacy. Increasing patient access to prescription medications with expert services at the point of prescribing contributes to increased patient satisfaction and addresses key barriers to medication adherence. The restructured company will focus on technology and pharmacy management integrations to support its substantial pipeline for new partnerships. The pharmacy technology business today addresses a large opportunity with urgent care sites, expanding patient access to quality pharmacy care and prescription medications quickly and efficiently, and the company is focused on broadening its footprint within this channel. MedAvail will also grow its technology business with value-based providers by leveraging its proven track record of adding significant value to value-based care providers with the former SpotRx business."

Published first on TheFly

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