Leverage your last mile – Is Mark Cuban a partner for the independent pharmacy?
Why would a patient pay $8 for same-day delivery through a digital pharmacy startup? There is no other business model that provides free same-day home delivery other than independent pharmacies. You can bake in a delivery charge for a pizza, but not for a co-pay. As pharmacy chains offer delivery, they usually pass the cost on to the patient. How does that make sense to have a $0 co-pay with an $8 delivery fee?
Shining a light on mail-order pharmacies
Jeff Bezos’s Amazon pharmacy and Mark Cuban’s MCCPD are mail-order pharmacies. Transporting prescription pharmaceuticals via the mail is rampant with temperature control issues, delays, and patient dissatisfaction according to decades of market research. However, both Bezos and Cuban understand how the structure of the industry is broken. PBMs have made it impossible for fair market competition. Recognizing their stranglehold on the pharmaceutical industry, both players have entered the industry as mail orders; one purchased PillPack, and the other utilizes Truepill.
Why is Truepill being utilized by Mark Cuban? They have the infrastructure to provide mail-order at scale nationwide. That $3 dispensing fee and $5 shipping fee go directly to Truepill. Independent pharmacies must understand that they have the most valuable component, FREE same-day delivery via thousands of direct access pharmacies that all possess a human touch. This is where mail-order or larger chains cannot compete.
The rise of the independent pharmacy delivery network
Could Mark Cuban create a cost-effective prescription delivery model with FREE same-day delivery? He would have to acquire thousands of brick-and-mortar independent pharmacies; a merger and acquisitions nightmare. Why is Mark Cuban utilizing Truepill? Truepill is just the beginning. The endgame is patients receiving cost-effective pricing and FREE same-day home delivery. Independent pharmacies have already laid out the blueprint, while RxMile is actively building this network.
MCCPD’s primary focus is to reduce drug costs, which can only be attainable by becoming the manufacturer/wholesaler. So, as Mark Cuban carves out a portion of the $500 billion pharmaceutical industry, the independent pharmacy community becomes the new Truepill. Eliminating the $5 shipping fee and $3 dispensing fee while providing free same-day delivery is a no-brainer. Independent pharmacies are already providing free home prescription delivery. By developing and building this, the opportunities will come.
Join RxMile’s as we build this community together, one independent pharmacy at a time, keeping you cost-effective, compliant and in-control across prescription home delivery.
Find out more about RxMile and the CEO & Co-Founder, Kunal Vyas: