INDUSTRY CHALLENGES

Rising Prescription Costs

The increasing cost of prescription medications continues to be a significant concern for many consumers. With healthcare expenses on the rise, individuals and families must find ways to manage these costs without compromising their health. This challenge has led many to search for more affordable options, sometimes at the expense of their well-being or by forgoing essential medications altogether.

Additionally, navigating the complex landscape of medication pricing can be confusing and time-consuming for consumers. Different pharmacies may offer varying prices on medications, leaving individuals uncertain about where to find the best deals. This uncertainty can lead to added stress and frustration as consumers try to balance their healthcare needs with their financial constraints.

PharMap solving this by:

Helping consumers save on medications
Providing aggregate pricing for smarter choices

SOLUTION

Deceptive Sale Prices

Sale prices on individual medications can often be misleading, as the total cost of multiple medications may still be higher at one pharmacy compared to another. Consumers may be lured in by a lower price on one medication, only to find that the overall cost of their medications remains high due to increased prices on other items in their shopping basket.

This challenge makes it difficult for consumers to accurately assess the true cost of their medications and can lead to higher-than-expected expenses. Furthermore, it may cause some individuals to prioritize cost savings over their health, potentially opting for less effective or lower-quality medications to reduce their overall expenditure.

PharMap solving this by:

Evaluating the total cost of medication baskets
We help find the best deals for multiple medications

SOLUTION

Overcoming Drug Shortages and Rising Gas Prices

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Drug shortages have become a significant problem in the pharmacy industry, leaving many consumers without access to the medications they need. These shortages can lead to wasted time and resources as individuals travel to pharmacies, only to find that their desired medication is out of stock. This issue is exacerbated by rising gas prices, making it increasingly expensive to travel between pharmacies in search of necessary medications.

In addition to the financial burden, drug shortages and increased travel expenses can cause stress and anxiety for consumers. The uncertainty surrounding medication availability may result in individuals delaying or skipping doses, leading to negative impacts on their health and well-being.

PharMap solving this by:

Providing accurate stock information through API integration
Eliminating unnecessary travel expenses

Including Community Pharmacies

The current focus of online pharmacy solutions often lies with large pharmacy chains, leaving smaller, independent, and community pharmacies at a disadvantage. These local establishments may lack the resources or online presence to compete with larger chains, making it difficult for consumers to discover the services they offer.

This challenge can result in a less comprehensive range of options for consumers, limiting their ability to find the best prices and medication availability. Furthermore, it can contribute to the marginalization of community pharmacies, potentially reducing access to essential healthcare services for individuals in remote or underserved areas.