Theme: Pharma | ‘Need industry-wide solutions for healthcare compliance’

In this episode of the “State of the Economy Podcast, Jyothi Datta and Dharmil Sheth, co-founder of PharmEasy, discuss the importance and role of online pharmacies in the healthcare system. The conversation addresses various aspects of the online pharmacy industry, including regulation, compliance, concerns from traditional pharmacies, and data protection. Sheth explains that online pharmacies act as intermediaries between patients and pharmacies, ensuring the safe and convenient delivery of medicines across the country. He emphasises the industry’s compliance with prescription requirements and data protection laws. The discussion covers the challenges faced by the online pharmacy industry, such as concerns about prescription abuse and antibiotic resistance. Sheth argues that these issues exist in both online and offline formats and that the focus should be on solving industry-wide problems. He highlights the benefits of technology in addressing these challenges and ensuring a level playing field for all pharmacy businesses. He also talks about discounts and advertising, stating that online platforms offer discounts based on partner retailers’ margins and that cross-selling and upselling contribute to patient retention. Regarding data protection, he assures that online platforms follow strict guidelines and store patient data securely within India. He calls for industry-wide solutions rather than targeting online platforms alone. Listen in! (Host: Jyothi Datta, Producers: Jayapriyanka J, Anjana PV) About the State of the Economy podcast India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups