Pharmacy Daily | Health programs to drive MDR growth

DIGITAL medication management company, MedAdvisor (MDR), believes its future revenue growth in Australia will be driven through health programs.

In its Dec 2020 Quarterly update to the Australian Securities Exchange, the company reported total revenue for its Australian operations was up 13% for the first half of 2020 compared with the same period in 2019, while the number of digitally connected patients hit 1.8 million.

MedAdvisor noted the revenue boost was generated "largely through pharmacy network growth, which was up to 3,600-plus representing approximately 64% of the pharmacy market".

However, the company said as it continues to expand its network and reach, the opportunity to generate an increasing amount of revenue from patients within the network, and through health programs will be a key growth driver for future periods.

"Health programs revenue was up 56% on the prior corresponding period as patient volume grew and more sponsors are attracted to the scale and reach of MedAdvisor," the company said.

MedAdvisor added that continued investment in technology to improve user experience was critical to accelerating patient acquisition and ensuring pharmacies benefit from strong digital engagement with their customers.

With a 41% increase in patient numbers using MedAdvisor's app in Q2 FY2020, the company reported app orders were up by close to 52% and items per order increased by 56% in the quarter compared with the same period in 2019.