According to forecasts by MarketsandMarkets, the e-prescription market will reach $794 Million by 2017. New prescribing platforms could save each physician an average savings of 336.7 hours says a study by Medical Group Management Association. ZappRx is a startup that seeks to venture into this space by making it easier for anyone to pick up a prescription at the pharmacy.
ZappRx was founded in 2012 by Zoe Barry (CEO). The management team includes Matthew Graziano (CTO) and Charles Johnson (V.P Operations). In August 2013, the company received a funding of $1 Mn through investors including Jean-Francois Formela, Atlas Ventures, Ryan Moore, Life Sciences Angel Network and Hakan Satiroglu among others.
The idea occurred to Barry when she was waiting to board a flight at the airport.That prompted her to think about the experience of standing in a queue at the pharmacy. What if there was an emergency? She wondered whether a “mobile boarding pass” for the pharmacy would help speed up the experience, and reduce the risk that pharmacists would dole out the wrong prescription or dose.
This video shows you what ZappRx is all about:
About the Platform:
- ZappRx is an application for now, but the Boston and New York-based team is forging relationships with doctors.
- Zoe Barry hopes that doctors will soon be able to digitally prescribe medications to their patients so users can skip that trip to the doctor’s office completely. This would enable Patients to pay for prescriptions online.
- Pharmacists will be able to access and process patient’s insurance information, so users can simply pickup their prescription and go.
“This new funding will be used to further build out the team. The three goals for ZappRx are ‘fundraising, team raising, and customer raising,’ says Zoe Barry. The company currently employs six people working full time and three others on contract.
“It seems very counter-intuitive that patients still do not have direct access to their prescriptions, which results in limited portability and information flow,” said Jean-Francois Formela, Partner in the life sciences group at Atlas Ventures & ZappRx investor.
ZappRx announced the launch of a Beta program on 22nd July, 2013. Patients of two well-regarded New York physicians, Gary Goldman and Richard Cohen, were chosen to be test cases for the program. ZappRx is working with a handful of doctors currently, but the startup says that it will continue to forge partnerships with large hospitals in the coming months.
Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading & Blogging with focus on New Innovation, Technology & Startups in the Payments Space.
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