Restorative Healtha health tech startup developing solutions to make Africa’s pharmaceutical value chain more efficient has unveiled an updated version of its customer-facing app designed to act as an operating system for neighborhood pharmacies and Proprietary Medical Patent Sellers (PPMV) across the continent.
Details
The new application features a digital POS terminal to support payment collection, virtual business accounts to receive payments, a built-in barcode scanner to record product sales and a store switch function to seamlessly manage multiple stores, as well as inventory management solutions to replenish stocks and the easy identification of products with a short date.
The app also offers comprehensive financial reporting for P&L management, as well as detailed data insights for decision making.
Zoom out
Despite accounting for 85 percent of retail drugs sold in Africa’s pharmaceutical industry (a market size projected to reach $70 billion by 2030), the absence of personalized digital tools to manage their unique sales and inventory management needs means that neighborhood pharmacies and patent property drug suppliers (PPMV) cannot perform their activities as efficiently and profitably as possible.
At the same time, reliance on paper-based sales and inventory management processes means that manufacturers have limited empirical knowledge of customer behavior to inform their production and distribution decisions.
Digging deeper
The new Remedial Health app is designed specifically for healthcare businesses in Africa, with customized features designed to support effective decision-making for business growth and profitability.
Starting in Nigeria, healthcare businesses can access proven medicines and manage their sales and inventory on one easy-to-use platform, freeing up time and capacity to effectively serve their customers and communities. The app also enables Remedial Health to provide aggregated real-time data on market behavior to manufacturers for increased profitability and better decision-making across the value chain.
What they say
According Samuel OkwuadaCEO and co-founder of Remedial Health, “Neighborhood pharmacies and PPMVs represent the frontline of healthcare delivery in Africa, but have historically been left to their own devices to figure out how to be efficient and profitable.
Our mission is to empower these key service providers with the tools they need to manage day-to-day operations and seamlessly run their practices efficiently. We spent a lot of time interacting with our customers in the process of delivering this product and the feedback has been great. We are excited about the opportunity to get the app into the hands of pharmacies and PPMVs across the country to support their continued success and the health and well-being of the nation.”.
By The Numbers
In 2023, Remedial Health was sold more than 300 million individual packages of medicines in 7,500 hospitals, neighborhood pharmacies and PPMVs in all 36 states of Nigeria.
Her customers too they improved their profits by 30%. on average, with access to more than 8,000 controlled products at the same, or better, than the drug market prices in the open market. They can also access same-day delivery and leverage inventory financing to minimize cash flow friction for routine orders and maximize sales opportunities.
The Remedial Health app is available for download Google Play Store and Apple App Store.
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