Morning,
what it means is massive opportunity --------------- IF the company has someone or more than one person who can get though the doors - open the doors to the seats of power - some of these doors are the AMA - and political parties and of course government -------
inside the last door are the keys to the safe.
I have been doing a fair bit of work researching this company - it is NOT a prime target for me at this stage until the research is finished. I am meeting with the company next month along with another member of my team - and, that will provide a lot of answers.
Here are some things that came up in the last couple of days.
All can only be my opinion at the moment ------------- AND, it could be wrong - too early to be certain.
I 'think' the product is good - good, meaning - that the product will go as far as the company wants it to go - I can see no better (in Australia) as yet.
But, - a product - no matter what it is - app. or widget ----------- is totally useless without good business practice, great team and leadership and a harmonious team behind it - along with a hell of a lot of other things - market timing, fair breeze etc. etc.
I have asked the best GP I know --------------- who by chance happens to be the best GP I have met in my life - and, I have met with and worked with lots - did she (yep, it's a she) know of Medadvisor? Yes! What did she think of it? She said she believed it was very reliable. I asked if she knew that they were coming with GP link - she said she did and I asked if she would use it - she said she thought she would - but, the decision would be up to the practice (about 6, maybe 8 practitioners).
So the 'feeling' I get atm is that the product is good enough (very good in fact) - so, it depends on the rollout.
The roll out depends on pharmacies - and, more.
Lets take the pharmacies first.
I live in the boon docks - on top of mountain with all the hairy men - so, a trip to town involves going to places that just got steam power and light bulbs last week - a bit backward - so, new tech takes time.
So - I went to sign up with Medadvisor -------- first pharmacy --- nope - we have another one -
eRxEXPRESS - not medadvisor - so, I take a leaflet.
Cross the road - do you have medadvisor? Answer - what's medadvisor?
IMO - anyone who is looking here at an investment (INVESTMENT) not trade - you need to research eRXexpress -------- read about it and download the app. and have a play.
The company boasts of having (from memory) - over 4000 pharmacies - and a hell of a lot of GP's on board - says it is the biggest in Australia.
Hmmm!
Now - it's not all bad news fellas - the news is actually good - read on and don't sweat.
But, there are 3 things about eRXexpress - 1. It is chalk and cheese - the app. doesn't do 10% of what Medadvisor does. 2. The app. 'appears' to be flakey and 3. the biggest thing that I saw - they boast of a large number of pharmacies -------------- BUT,
if you download the app. and go to select your favorite pharmacy - then, look around the country - try Sydney and Melbourne etc. etc. - and all you have to do is count the red pins which indicate participating pharmacies ------------- add em up - and you will be far far far short of 4000.
So - why did I bring this up?
Because pharmacies are the key - they are where the end user goes.
One of the problems with getting 'some' of the pharmacies that MDR needs is that - several already have a system - so, their attitude will be - we already have one ----------- yes?
Enter GP link.
IF ------ GP's begin to use Medadvisor in large numbers - then pharmacies will be FORCED to use it ---------- if they don't - then a huge number of their customers will go across the road to a pharmacy that does -------- simple enough if available.
Now - will GP's go for it?
Well - under current rules?? I don't know that the company thinks - but, it cost me $76 to go to the doctor the other day with a medicare rebate of $37.05
Would I use Medadvisor for 20 bucks to get a new script ----------- yes, I would - but, the point really is ---------- how many GP's will go for the $20 buck idea?
Don't know -------------- BUT,
If medicare go for it --------- so, instead of subsiding $37.05 - they subsidise a script witout consult or perhaps with brief phone consult for say 20 bucks ---------
whole new ball game.
A flood of GP's would storm the place - and, when that storm happens -------- imagine the phamacists who aren't on board? ------------- they would be toast - so, no choice.
So - what does the AMA thing all mean?
opportunity with a massive 'opp' --------- one of the most powerful institutions in the country - basically - if you have them on board - you have a weapon - oh, boy, do you have a WEAPON.
All IMO fellas ------------- it has to hang together.
Pinto
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