Combining Telemedicine and Local Pharmacies | Vinay Patel, PharmD, Founder MakoRx

Show Notes Introduction: Mike hosts Vinay Patel, the founder of MakoRx, a company aiming to integrate telemedicine and local community pharmacies for improved healthcare access and affordability. Role of Local Pharmacies: Delve into the potential of local pharmacies to function as community healthcare hubs, offering essential services and bridging the gap between traditional in-person care and modern telemedicine. Telemedicine in Action: Understand how telemedicine can cater to the healthcare needs of diverse demographics, particularly in rural areas, forming an important piece in the puzzle of comprehensive healthcare access. Overcoming Challenges: Discuss hurdles encountered while introducing novel healthcare services and the importance of early adopters and real-time market feedback for strategy refinement. Innovative Pharmacy Benefit Models: Discover an innovative cost-plus model for pharmacy benefits administration and learn about strategic partnerships that contribute to success. Entrepreneurial Growth Journey: Learn about the transition from being an employee to owning a Pharmacy Benefit Management (PBM) company, how strategic partnerships have fueled growth, and how initial ideas evolved into concrete healthcare solutions. Membership Healthcare Services: Understand the structure and benefits of a membership program, a subscription model offering basic healthcare services, providing a distinctive alternative to traditional insurance. Artificial Intelligence in Medicine: Engage in a thought-provoking conversation on the potential and ethical implications of AI in healthcare and beyond. Personal Reflections: Gain insights from personal experiences and challenges faced by both Mike and Vinay in their careers, alongside thoughts on managing a growing company and advice to fellow pharmacists. Value-based Healthcare: Wrap up with a discussion on the importance of patient investment in their own healthcare, the value proposition of cash pay services, and the role of the internet in accelerating the cycle of value assessment. https://www.makorx.com/ Connect with Mike: Instagram:⁠ https://www.instagram.com/bizofpharmpod/⁠ Facebook:⁠ https://www.facebook.com/BizOfPharmPod⁠ YouTube:⁠ https://www.youtube.com/c/TheBusinessofPharmacyPodcast⁠ Twitter:⁠ https://twitter.com/bizofpharmpod⁠LinkedIn:⁠ https://www.linkedin.com/company/bizofpharmpod⁠ Website:⁠ https://www.bizofpharmpod.com⁠ Loved this episode? Leave us a review and rating here:⁠ https://www.bizofpharmpod.com/reviews/new/⁠