Best 30 Companies of the year 2018
Healthcare in the 21st century has advanced rapidly and opened new horizons. However, as these advancements have progressed, its misuse has also risen. Counterfeit medicines are a global, multi-billion dollar epidemic that affects patients, public health, and the global healthcare system. Worldwide sales of counterfeit medicines account for an estimated $75 billion in annual sales and are responsible for an estimated 1 million annual deaths according to the World Health Organization.
But there are good-hearted companies out there who are ensuring that the medical aid reaches to everyone. PharmaSecure is a software and technology company that works to improve global public health using mobile phone technology. It has a strong vision to protect medicines against counterfeiting and protect products across industries. PharmaSecure helps manufacturers meet global regulatory serialization requirements and enables innovative patient and consumer engagement programs.
PharmaSecure was established in 2007 with a new and innovative way to empower consumers. Its unique solutions have outshined in the pharmaceutical industry and protected patients from the threat of counterfeit medicines. The reason for a high-threat of counterfeit medicines and other products is because the supply chains are not as developed and regulatory bodies have not yet evolved to completely solve the problem.
In order to prevent this, PharmaSecure has brought out anti-counterfeiting solutions for emerging markets and has now protected over 1.8 billion products. By enabling patients and consumers to verify the authenticity of their products with a simple SMS, mobile app, or website, PharmaSecure has achieved a milestone.
But that’s not all. Apart from empowering the consumers and patients to fight the spread of counterfeit goods, PharmaSecure’s consumer engagement solutions can be used by companies to connect with their consumers and patients as well. This offers an innovative and interactive ecosystem with direct communications, promos, and other such solutions.
A vision to protect
The solutions from PharmaSecure not only promote peace of mind against counterfeiting consumers’ connection to the brand, but also generate actionable consumer insights that are used by leading companies to improve marketing and sales performance.
Its solutions are proven and have also been expanded to brand protection platform to be used in a wide-range of industries including FMCG, beauty & personal care, electronics, automotive, and agri-business. Today, PharmaSecure has protected 1.8 billion products in 40+ geographies around the globe.
Here’s a list of protection services by PharmaSecure:
New ways to connect
One of PharmaSecure’s prized solutions is the psConnect. The psConnect is a scalable and flexible patient engagement and disease management platform that has been proven to be effective in increasing adherence and patient compliance on long-term chronic regimens while generating insights into patient behavior.
The solution helps the clients to gain competitive insights and understand why and when the patients are dropping the product and which competitor they are switching to. It also guides to improve marketing and sales force effectiveness. The psConnect quantifies how each of the client’s team members and campaigns contributes to revenue per patient. Additionally, it also helps to differentiate the brand and also create patient loyalty.
Here’s a brief glimpse of how psConnect works. It first recruits patients using unique IDs on a medicine or a card from the provider. Next is affects the patient behavior through proven tools and lastly measures the impact and generate insights.
Here’s an instance where psConnect helped to increase patient adherence from 78% to 93% resulting in $230,000 annually in increased sales. A large pharmaceutical company partnered with PharmaSecure to monitor post-purchase behavior and deploy mobile tools to influence patient behavior.
Before implementing psConnect, the pharma company reported an adherence rate of 78%. However, after implementing psConnect™ the adherence rate was increased to 93%; resulting in an additional 307 patients adhering in one year. This led to a totally new value for the brand and that was over $230,000 annually.
The Leading Force of PharmaSecure
N. Taylor Thompson is the founder of PharmaSecure. Taylor co-founded PharmaSecure in 2007. He has advised more than a dozen social enterprises on strategy and has consulted for the Global Impact Investing Network, Echoing Green, and the Impact Term Project. In 2014, Taylor was a research fellow with the Forum for Growth and Innovation at Harvard Business School, where he studied technology commercialization with Clayton Christensen and wrote for HBR. Taylor is an Echoing Green and Pop! Tech fellow. He holds an A.B. from Dartmouth College and MBA from Harvard Business School.
“Give a complete peace of mind to your consumers, and brand security to your company with our award-winning brand protection solution.”