A Healthy Reminder to Take Your Meds [On Blockchain]

12/05/2017 08:51 pm ET
NeedGrowth.com

It’s flu season, but most of us are still forgetting to take our medications. That includes the elderly, infirm, and those suffering from psychochemical illnesses, for whom forgetting to medicate can result in chemical imbalances, hospitalization, or even death. Medication non-adherence and noncompliance is a $300 billion problem: 49% of Americans forget to or altogether stop taking their prescribed medications at any given time, and often it’s the most ill who forget to take their medications most, which compounds their problems further.

ScriptDrop, the blockchain solution for medication adherence, looks to change that. “Our goal is to lower prescription abandonment and improve medication adherence. With our team’s combined knowledge of pharmacy and technology, we identified an opportunity in the data where patients were dropping off prescriptions and then not picking them up. Our first and fastest-growing product, prescription delivery, is the result of our research and execution,” said CEO Nicholas Potts about the technology.

ScriptDrop is actively building out its Adherence Blockchain, powered by its Adherence Tokens, and is using blockchain technology, both Ethereum and Hyperledger, to track patient journeys and their adherence more efficiently and accurately. Yet ultimately, one of ScriptDrop's biggest goals is to give patients autonomy over their own data. Patients can provision access to their health data on the Adherence Blockchain. The company’s medication reminder platform creates greater efficiency for providers, and eases the burden of co-pays for patients by granting them Adherence Tokens as a reward for interaction with their platform’s delivery and medication reminders, which they can then use to reduce their co-pays at pharmacies nationwide.

ScriptDrop’s two largest partners on the pharmacy side are BestRX and Albertsons. Having worked with Albertsons to deliver prescriptions to victims of the Texas hurricane, they are expanding southward as well. ScriptDrop’s solution works lock-in-key with pharmaceutical company business models: being blockchain-based, ScriptDrop’s solution provides a more detailed patient journey, and has the potential to save pharmaceutical companies millions on co-pay cards by subsidizing that cost with their innovative technology.

ScriptDrop’s token sale is currently live for accredited investors, and their KYC is open for registration at a 5% bonus for anyone who takes part. ScriptDrop is growing quickly: they are expanding their delivery business into multiple states, with their goal being to improve the way medication adherence is handled in the U.S. To providers, CEO Potts told me, “You know just as well as we do that medication adherence is nuanced. We want constant feedback on product enhancements so we can put your feedback into action for the benefit of patents across all provider types.”

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