Pharmx is a startup entrepreneurial venture that envisions to serve the pharmaceutical community by use of modern technologies in data collection, manipulation, and dissemination.
Pharmx is a mobile application developed and named after the developer company.
The company headquarters shall be based in Los Angeles state and envisions to expand its territories beyond the continental level.
Problem Background
Both traditional and the existing semi-automated health information systems are fully reliant on individuals interacting with the systems such as drug dispensing personnel (Burke & Weill, 2018). Critical data about drugs such as dosage are often misinterpreted leading to inconsistencies in drug administration and subsequent fatal outcomes (Jones et al, 2016).
Overview of Pharmx (Elevator pitch)
Pharmx is a mobile application purposely developed for use by clinicians who prescribe medication.
Basic version would offer every single FDA-approved drug in the market, it’s indications, common interactions and dosage.
Connected to a secure web server, Pharmx will collect pharmaceutical data regarding a certain drug, manipulate it as requested and generate output on demand. Thus, Security of data both in storage and in transit will be guaranteed
Health information statistics will be accessed by a mere tap as opposed to semi-automated systems that eat up a lot of users time.
Pharmx Business model
The application exist in four versions :
Free Consumer/patient level:
Provide basic information about medications
Section to record a person’s current prescriptions and Rx history
Refill reminders with map of participating drugstores near patient’s location
The Benefits Pharmx Solution
If use is broad enough then this system could lend an additional layer of:
Transparency and recording of the prescription and the use of opiates and other narcotics.
A modern and digital means to track newly-released drug interactions and adverse effects.
Income Generation
The project will generate revenues from sale of the application and its license to
- a) Individual clinicians and pharmacists
- b) Hospitals, research institutions, and pharmacy chains.
Sell data to government agencies such as FDA
Advertising healthcare institutions
References
Burke, L., & Weill, B. (2018). Information technology for the health professions. Pearson.
Jones, S. S., Rudin, R. S., Perry, T., & Shekelle, P. G. (2014). Health information technology: an updated systematic review with a focus on meaningful use. Annals of internal medicine, 160(1), 48-54.
