HealNow raises $1.3 million to bring online payments to pharmacies

Because the well being tech panorama hastily evolves, some other startup is making its presence recognized. HealNow has closed a $1.3 million spherical of investment from SoftBank Alternative Fund and Alabama Futures Fund.

The corporate was once based via Halston Prox and Joshua Smith. Prox has labored in healthcare for greater than a decade with main organizations equivalent to Windfall Well being, Mount Sinai and Baylor Scott & White, most commonly fascinated by digitizing well being data and designing and imposing tool for docs, nurses, and so forth. Smith, CTO on the corporate, has been a developer since 2012.

The duo based HealNow to turn into the central worried gadget for order and supply of prescriptions, consistent with Prox. Your moderate bills processing gadget isn’t essentially appropriate to pharmacies massive and small as a result of the complexities of medical insurance and the regulatory panorama.

Now not handiest is it expensive to facilitate on-line bills for pharmacies, however in addition they have their very own pharmacy control techniques and workflows that may be simply disrupted via transferring to a brand new bills gadget.

HealNow has constructed a gadget that’s in particular adapted to pharmacies of any form or measurement, from grocery retail outlets to mother and pa pharmacies and the whole thing in between. It’s a white label answer, which means that any pharmacy can put their emblem language at the product.

“We’re embedded of their present workflows and pharmacies don’t need to do the rest guide, despite the fact that they’re the usage of a pharmacy control gadget,” mentioned Prox.

When a person seems to get a prescription from their pharmacy, they’re despatched a hyperlink that lets them securely solution any questions that can be vital for the pickup, input insurance coverage information, make a fee and time table a curbside pickup or a supply. The tech additionally integrates with third-party supply products and services for pharmacies that supply deliveries.

This era has been in particular vital throughout the COVID-19 pandemic, giving smaller pharmacies the danger to compete with larger chains who’ve virtual answers already arrange that permit for curbside select up. That is very true now that Amazon has gotten into the distance with the release of Amazon Pharmacy.

HealNow is a SaaS corporate, charging a per 30 days subscription price to be used of the platform, in addition to a carrier price for prescriptions bought at the platform. Alternatively, that carrier price is a flat fee that by no means adjustments according to the price of the prescription.

The distance is crowded and rising extra crowded, with competition like NimbleRX and Pill providing their very own spin on simplifying and digitizing the drugstore. One large distinction for HealNow, says Prox, is that the startup has no goal of ever being a pharmacy, however somewhat serving pharmacies in some way that doesn’t disrupt their present workflow or gadget.

“We’re now not a pharmacy, and we need to permit some of these pharmacies to be on-line,” mentioned Prox. “To do this we need to do this in an impartial method via that specialize in being an entire tech corporate.”

The investment goes basically towards development out the gross sales and advertising and marketing palms of the corporate to proceed fueling expansion. HealNow has a foothold within the West, Southwest and Heart The usa, and is opening an place of work in Birmingham to dash around the East Coast. Prox says the corporate is processing 1000’s of orders an afternoon and tens of 1000’s of orders each and every month.

HealNow introduced in 2018 after graduating from the Marketers Roundtable Accelerator .

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