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- Pharmacy software specialist MedAdvisor (MDR) is doing its part to support the healthcare system as Covid-19 spreads across the globe
- The company will use its online pharmacy platform to support our country’s unwell in four keys ways
- The MedAdvisor platform will support home delivery for medication, with funding help from the Federal Government
- Patients and pharmacies will have access to free two-way messaging through MedAdvisor apps
- The company will let patients pre-order and pre-pay for medication to ease the load on pharmacies
- And finally, the MedAdvisor platform will let patients order prescription drugs from GPs, saving the patient a trip to the doctor
- Shareholders responded well to today’s news, with MedAdvisor shares increasing in value by a third and closing worth 42 cents each
Pharmacy software specialist MedAdvisor (MDR) is in a unique position to lighten the load on our healthcare system as Covid-19 continues to spread.
In a week full of coronavirus updates from ASX-listed companies, MedAdvisor’s business update today is encouraging to both shareholders and the unwell across the country.
MedAdvisor is essentially an online pharmacy. The company helps patients and carers manage their medication use and prescriptions through web and mobile apps — meaning they never have to leave the home to get the medication they need.
With a country in self-quarantine and encouraging social distancing, this opportunity to receive meds from the safety of your own home is more welcome than ever.
Patients in need of chronic medication can use the MedAdvisor platform the make sure they don’t need to venture out in public and risk infection with the new novel coronavirus. To ensure this as easily accessibly as can be, MedAdvisor has revealed four key strategies to help Australia’s healthcare system handle the virus.
Firstly, MedAdvisor is introducing home delivery for meds with funding assistance from the Federal Government, ensuring isolated patients can keep up their care.
Secondly, pharmacies partnered with HomeAdvisor can access free two-way messaging with patients through the MedAdvisor platform.
Thirdly, the MedAdvisor platform will allow patients to pre-order and pre-pay for medication to help streamline pharmacy workflow and help pharmacists manage stock.
And finally, patients can remotely order prescriptions from a GP through the MedAdvisor app which can be sent off to a pharmacy of their choice so they avoid visits to the doctor.
As for how these activities will impact company financials, MedAdvisor Managing Director Rober Read seemed more focussed on how the company can help the community rather than if it can pull in a few more dollars.
Of course, for cautious investors, he explained that after October’s $17 million capital raise, the company is fully funded to implement each of these strategies.
Further, the Federal Government has announced it will support pharmacy home deliveries with $25 million to fund home medicine services during the Covid-19 crisis.
Shareholders responded well to today’s news, with MedAdvisor shares increasing in value by a third in just one session. Shares in the company closed 33.33 per cent higher at 42 cents each.
