MORE than 830,000 patients nationwide are now using the MedAdvisor platform to manage their medications, an increase of 17% on the Mar 2017 quarter.
The company yesterday revealed its trading figures and activity report for the three months to 30 Jun, with significant achievements including the expansion of the MedAdvisor Pharmacy Network to more than 2,600 pharmacies, including all Discount Drug Stores across Australia.
During the quarter MedAdvisor's total cash receipts totalled $1.4 million, and the company said it expected to be "cash flow breakeven" in the second half of the 2018 calendar year.
Following the acquisitions of Healthnotes and OzDocsOnline over the last 12 months, the company will now "focus on completing the consolidation of all its platforms to provide patients, pharmacies and GPs with one integrated platform with increased connectivity and further opportunities to drive revenue," according to ceo Robert Read.
He noted that while the company now has a market share approaching 50% of the pharmacies in Australia, patients connected to the system represent less than 15% of customers with a chronic disease at those same pharmacies.
However the average number of patients per pharmacy using the platform increased from 285 to 315 during the three month period.
Total script value per week amounted to more than $4 million during the period, a 25% increase on the Mar 2017 quarter, including scripts ordered via MedAdvisor's Tap to Refill patient function and scripts ordered through pharmacists, GPs and nursing homes.
Read said MedAdvisor planned to continue to grow new revenue streams, "partly by growing the revenue of the pharmacy through offering professional programs that can be delivered in store".
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