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Biotech / Medical : Stayhealthy.com: Monitoring your wellness on the Web -- Ignore unavailable to you. Want to Upgrade?

To: joeystockmarket who wrote (910)	8/29/2000 8:23:31 PM
From: Eric Fader	Read Replies (1) \| Respond to of 3785

I just got around to reading the August 15th issue of iHealthcareweekly, and found this analysis of e-pharmacies. The bolding is mine. I think it ties in eerily well with what I believe Stayhealthy and the Good Neighbor Pharmacies are up to - as I described in an entirely speculative post a few weeks ago <ggg>. First read: Message 14102158 Then read: Services Aimed at Drug Compliance Will be Key to Future Success for ePharmacies by Catherine Calacanis The number of people purchasing prescription drugs online will double by the end of the year, Forrester Research predicted in a June 2000 report. The online pharmacies that fill these prescriptions will have to provide increased and more complex services, however, if they are to benefit from the windfall. In the report, "The ePharmacy Opportunity," Forrester surveyed 3000 online consumers about their attitudes toward purchasing prescriptions and other health products online. Motivated by 24/7 access, and the convenience of not waiting at the store, online prescription-drug purchasers currently outnumber those who purchase flowers online. More than 70 percent of the online prescription-drug purchasers surveyed were satisfied or extremely satisfied with the experience. The online prescription-drug purchasers are almost three times as likely as average online users to utilize the online drugstore as a resource for health information. The information sought was not limited to merely information about the drug purchased, but included information on other health issues and drug-price comparisons for drugs not covered by insurance. Insurance coverage, however, was found to be critical to the continued use of online pharmacies. Almost 70 percent of respondents felt that having a choice about which online pharmacy they can use, and still have their insurance processed, is either somewhat or extremely important. More than 50 percent said that free delivery was a must. Forrester believes that the online pharmacies will conquer the art of selling prescription drugs online despite existing barriers. While not insurmountable, those barriers include limited access to insurer-controlled pharmacy networks, delivery delays, the pervasive use of paper scripts, and a fragmented regulatory environment. In knocking down those barriers, online pharmacies are expected to ring up $15 billion in prescription drug sales by the year 2004. Helping to educate consumers about their diseases, and the importance of taking prescribed medication, is one way to insure compliance with drug regimens--and, at the same time, insure ongoing demand. Compliance with a prescribed medication regimen is good for the patient. It is also good for the pharmaceutical industry. As much as 50 percent of patients neglect to take their medication as ordered. This often leads to complications and relapses, among other medical problems. It also costs the pharmacy industry about $25 billion in lost sales annually. Forrester predicts that ePharmacy-based interactive compliance programs, aimed at keeping patients on track with their regimens, will add $1.3 billion in incremental drug sales in 2004. "Time to take your pill" and refill reminders are examples of some of the innovative interactive programs that Forrester prescribes to drive compliance--and loyalty. Additionally, and perhaps most importantly according to Forrester, online pharmacies must begin to position themselves not as just drugstores or retail outlets, but rather as health assistants, health service providers, or medication-management centers. In following these recommendations, ePharmacies will begin amassing data about patients and their medication histories. Valuable aggregate data can then be used for research. Forrester predicts that pharmaceutical firms will look to partner with ePharmacies to run Phase IV clinical trials. Personal data, however, will be of no benefit to the consumer unless it can be leveraged among other healthcare partners. In this vein, Forrester advises online pharmacies to partner with electronic medical records firms so that medication records can be linked and stored in context with other medical records. Access to a comprehensive medical record by healthcare providers is essential to providing effective and appropriate care to patients all along the healthcare continuum. In an effort to reduce medication errors, the state of Washington recently passed a "legible prescription bill." The bill requires that healthcare providers write scripts that are "capable of being read and understood by the pharmacist filling the prescription of the nurse or other practitioner implementing the medication order." Based on that watershed event, Forrester predicts that the use of computerized and online prescription order-entry tools will escalate. Forrester also recommends increased marketing efforts on the part of the National Association of Boards of Pharmacy (NABP) in regard to its Verified Internet Pharmacy Practice Sites (VIPPS) seal program. The NABP, a professional association representing state boards of pharmacy, developed the VIPPS seal program in 1999, in response to the public's concern about the safety of online pharmacies. Forrester prescribed a larger dose of marketing for the FDA, as well. The FDA offers consumer education on the subject of purchasing medications, and medical products, online at the FDA's website (www.fda.gov). Feedback: mailto:letters@siliconalleyreporter.com