Assured Pharmacy owns and operates specialty pharmacies that deliver a high level of care, service and compassion for individuals coping with chronic pain.
Chronic Pain is a Huge Marketplace
Prescription Pain Medication is the fastest growing segment of the healthcare industry, with prescription pain medication being a $100 billion a year market in the U.S. alone.
75 million Americans suffer from chronic, debilitating pain and 80% of sufferers are between ages 24 and 64. Chronic pain is the number one cause of adult disability in the U.S. and is the cause of more disability than cancer and heart disease combined.
The cost of chronic pain to the U.S. economy is quantified annually at 50 million workdays, $3 billion in wages and $100 billion in productivity with an estimated 80% of all physician visits attributable to chronic pain.
Chronic pain conditions can require specialized pharmaceuticals and compounds that patients cannot obtain in a regular pharmacy or through Wal-Mart.
Assured Pharmacy’s targets physicians specializing in pain management – orthopedics, neurology, oncology, psychiatry, physical rehabilitation and industrial medicine, which are specialties focused on treating patients with long-term, acute, chronic pain conditions.
Benefits to the Physician
– Free electronic prescribing provides patient history at a glance
– Customized patient/DEA/drug reports
– Eliminates calls from pharmacists due to illegible handwriting
– Provide check for drug/food interactions and allergies
– Minimize errors due to “look alike” and “sound alike” medications
– Diligent, professional, available pharmacists
Benefits to the Assured Client
– Free home delivery; no more paper prescriptions
– Fast; no more waiting in lines
– Low cost prescriptions
– Availability of difficult to obtain C2 and C3 medications
– Friendly, caring staff
Extreme Focus on Customer
– Monthly calls to check-in, and to provide refill assistance
– All store personnel given financial incentive to meet monthly sale goals
– A relationship pharmacy, we get to know our customers
Excellent Value Proposition
– Accept most insurance plans
– Free next-day delivery
– Fill all prescriptions for entire family, not just pain medications
Topical Compounding
– Enables chronic pain patients to better manage their medications
– Not transdermal, so it doesn’t interfere with medications being taken
– Quality product offering with high profit margins
Most Pharmacies Specifically Choose Not to Service Chronic Pain
Pharmacists have a personal liability with regard to their professional conduct. The type of medication used for the treatment of chronic pain increases their professional risk. For this reason many pharmacists choose not to dispense these types of medications. Chronic pain medications are targeted for theft and subject to intense scrutiny by DEA in terms of record keeping and must have in place a reviewable audit trail. Chronic pain customers have a negative connotation in many instances are deemed undesirable as customers. These are some of the reasons chronic pain medication is no longer stocked by many pharmacies.
Specialty Compounded Prescriptions
Assured Pharmacy works directly with the physician to create the specialized and often unique compounded prescription for the individual patient’s chronic pain. Providing adequate analgesia for patients with moderate to severe pain may require the use of multiple medications, often at high dosages.
Assured Pharmacy makes available to physicians and patients a mixture of standard and customized pharmacy products and services.
Most Advanced Phamaceutical Technologies
The company’s Assured Script Technologies electronic prescribing product – driven by RxNT – insures safe, accurate, and private delivery of prescriptions via electronic transmission. Physician can take advantage of this advanced electronic prescribing technology tool at no charge.
Patients may pick up prescriptions at the pharmacy or have them delivered to their home or office via courier or next day delivery.
Assured Pharmacy generates its revenue principally from the sale of prescription medications.
Durable Medical Equipment
Assured Pharmacy has, based on the profile of its chronic pain pharmaceutical customer, included durable medical equipment (DME) such as wheelchairs, braces, walkers, canes. Durable Medical Equipment is a natural complement to the prescription fulfillment services and is particularly appropriate in addressing the needs of the chronic pain sufferer.
Located in Densely Populated Areas
Assured Pharmacy locations are located in densely populated metropolitan areas where demand is the greatest. The company’s pharmacies are highly service-focused and responsive to the pain management patient’s requirements for prescription accuracy, availability, and privacy. All Assured Pharmacy personnel are specifically trained to support this focus on service.
Increased Revenue under Leadership of Robert DelVecchio
Assured Pharmacy announced in April that for the first time in the Company’s history revenues for the month of March 2007 exceeded $1 million.
Robert DelVecchio became CEO in February 2005, and was responsible for the restructuring of virtually every aspect of company operations. Under his leadership Assured Pharmacy experienced a rapid sales increase from $900K in 2004 to $3.8MM, which expanded to $7.9M in 2006.
Assured Pharmacy intends to open at least five new pharmacies in 2007, which creates a sales projection of $16MM to $18MM based solely on same store sales.
Expansion Plans
Assured Pharmacy is committed to an aggressive growth strategy in select markets throughout the United States. The company currently operates retail sites in Portland, Oregon (three), Santa Ana and Riverside, California, and Kirkland, Washington.
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