Here’s Why that Matters
The healthcare industry is changing, and we are changing with it. Shifting consumer expectations, retail pharmacy downsizing, and the emergence of telehealth have led to a digital transformation in healthcare.
The Changing Face of Healthcare
For the first time, the conversation among pharmaceutical manufacturers, healthcare plans, and healthcare tech companies is focused on the patient journey. Once upon a time, insurance policies, time, and distance dictated the way patients receive treatment, and patients had little say in the process. Today’s consumers are empowered. They have healthcare information at their fingertips, which means they’re more informed about their treatment options and more invested in decisions about their health.
The emergence of telehealth has revolutionized modern healthcare. Telehealth existed before the pandemic, but the need for safer interaction between patients and providers threw this new technology into overdrive. In 2020 the Department of Health and Human Services approved the use of telehealth to treat patients, and patients overwhelmingly approved. In a study by the American Medical Association, 73% of patients said they’d had such a good experience with telehealth that they’d use it again. Telehealth is clearly attractive to both providers and patients, and it’s here to stay.
Manufacturers are paying attention to the digital transformation in health care – and so are investors. Tech-enabled digital pharmacies are receiving massive venture capital investments and rapidly gaining market share. Ripple effects like the downsizing of retail pharmacy chains are changing the marketplace even further.
Creating the Future of Healthcare, Together
Imagine a world where highly personalized healthcare experiences are the norm, and technology can capture, assess, and act on highly sophisticated healthcare data. For example, a cardiac patient’s wearable tech records an arrhythmia. Via deeply integrated technology, a telehealth visit with her cardiologist is booked on her behalf. It even fits into her schedule. During the video visit, the doctor adjusts the dosage of her medication. After her visit, her medication is shipped directly to her home. The patient’s cardiac condition is managed proactively, with almost no effort from the patient herself.
This is the future of healthcare, and it’s closer than you might think. In this dynamic market, we see greater opportunity than ever to strengthen and consolidate the value we bring to our partners and their patients. To that end, we’ve brought our two businesses – Medvantx and Vytal – together.
Medvantx has long been a trusted partner of industry leaders, with 25 years of experience managing Patient Assistance Programs for some of the largest pharmaceutical companies in the world. Its nationally licensed non-commercial mail order pharmacy offers fully integrated pharmacy services that help our partners create better patient experiences.
Our new Direct-to-Consumer platform, VytalOS, offers manufacturers the ability to provide a one-stop shopping experience. The turnkey platform overcomes regulatory roadblocks, mitigates compliance risks, and makes it easy for manufactures to connect with customers online. Manufacturers can easily create a digital storefront that meets their patients’ evolving needs and captures lost revenue.
We are pleased to announce that we’ve rebranded as Vytal. Vytal will continue to offer the same products and services, organized under a single brand that focuses on innovative consumer healthcare solutions and industry-leading specialty pharmacy services.
As Vytal, our mission and vision have changed. The marketplace is rapidly evolving, and we’re redirecting our efforts to help our clients maximize profits. We will continue to expand our offerings beyond Patient Assistance Programs by supporting products within the medical devices and diagnostics space. We’re creating new solutions to address additional disease states like mental health and wellness. And we’re placing equal focus on VytalOS, our new direct-to-consumer solution, to help our clients grow their consumer healthcare capabilities.
“At Vytal, we believe the whole is greater than the sum of its parts. By unifying as one team, we’re better positioned to drive value for our partners and expand into new markets to drive access and affordability as a consumer-centric, integrated healthcare company. Simply put, we help our customers help more people through more channels.”
~Jeremy Gross, CEO and Founder, Vytal
Customers today are accustomed to the Amazon ordering experience, and they expect the same convenience and choice in their healthcare. VytalOS, a dynamic consumer healthcare platform, meets these customers where they already are, carving out new pathways for manufacturers to help deliver care.
Through our VytalOS platform, we combine technology with innovative pharmacy capabilities allowing manufacturers to seamlessly connect ecommerce, patience assistance programs, pharmacy operations, and telehealth, resulting in a frictionless digital experience for patients.
Manufacturers improve patient acquisition, boost brand awareness, and increase sales with an easy-to-build, code-free branded ecommerce site. The platform’s streamlined APIs make it easy to reach patients faster and support them at every step of their healthcare journey. A telehealth option lets patients consult with a physician from the comfort of their homes, while we manage back-end operations like fulfillment and shipping.
Manufacturers often offer patients alternative channels to their medication through patient assistance foundations. Designed specifically to help patients who lack adequate insurance coverage or cash to access their therapy, many of these programs have complexities along the patient journey. These complexities require enhanced care coordination and clinical education to ensure the patient receives the appropriate treatment.
We partner with these manufacturers to create innovative patient support programs that serve the needs of their patients. We design the patient journey with our partners, helping them uncover challenges and opportunities along the way. Our patient care coordinators work with their patients, helping them understand their therapy and adhere to their treatment plan.
Leveraging our vast experience, Vytal will continue to provide world-class non-commercial pharmacy services that provide value to our partners and accessible care for their patients. Integrated patient communications mean manufacturers can deploy shipment notifications, automate refills, schedule video and chat consults, and send marketing communications for a seamless, transparent experience.