RxPost is a powerful inventory management and exchange platform that transforms excess pharmacy inventory into revenue.
Los Angeles, CA, USA
One Liner
One Liner
RxPost is a powerful inventory management and exchange platform that transforms excess pharmacy inventory into revenue.
What Problem We are Solving
Problem
RxPost addresses a major pain point for pharmacies - the financial loss due to expired drug inventory. These pharmacies operate on thin margins, and even a small percentage of wasted inventory can significantly impact their bottom line. Managing inventory effectively is a complex task requiring considerable time and resources, which many small to mid-size pharmacies lack.
About Us
About Us
RxPost provides a solution to these problems by offering an efficient platform for pharmacies to sell their unused medication inventory to other pharmacies that can use them before they expire. This not only mitigates the financial loss but also simplifies the inventory management process, allowing pharmacy owners more time to focus on patient care.
Venture Highlights
Highlights
RxPost has experienced remarkable achievements since its inception. We have successfully onboarded over 200 pharmacies here in California, demonstrating a clear need for our service in the market. Our customer base has grown 45% quarter-over-quarter, and we are on track to double our revenue by the end of this fiscal year.
We'll be implementing a predictive demand forecasting feature which has already shown promising results in optimizing inventory procurement for our pharmacy clients. We’re proud to have received positive feedback from our customers, many of whom report that our solution has significantly improved their operational efficiency.
Business Model
Business Model
Our business model is built on providing valuable services to independent pharmacies that enable them to reduce losses and optimize their inventory management. We generate revenue in two primary ways:
1. Revenue Share: Whenever a transaction occurs between two pharmacies on our platform - that is, when one pharmacy sells its unused drug inventory to another pharmacy - we take a 10% revenue share. The transaction fee serves as a revenue source and also helps maintain the platform's operational costs.
2. Subscription Fees: We offer our pharmacies a subscription-based model that locks in an 8% revenue share fee for our high performing pharmacies.
Competitive Advantage
Quote
RxPost's competitive advantage lies in our unique blend of technological innovation, deep industry insights, and unwavering commitment to empowering independent pharmacies.
Our platform leverages data-driven analytics to streamline the inventory management process, making it not just another marketplace, but a comprehensive tool for operational efficiency. This differentiates us from other solutions in the use of technology to simplify supply and demand forecasting for our customers.
Moreover, we understand the challenges and intricacies of the pharmacy sector through our nearly two decades hands-on, frontline experience. This insider perspective allows us to offer features tailored to the specific needs of small to mid-size pharmacies, which large corporations often overlook.
Investing in or working for RxPost means joining a visionary team on a mission to revolutionize a crucial sector of the healthcare industry. We believe in a future where every pharmacy, regardless of its size, can thrive without the worry of financial loss from expired drugs and operational inefficiencies. As part of our team, individuals can significantly contribute to this goal, making a real impact on our healthcare community while enjoying a stimulating work environment that fosters creativity and growth.
Revenue
Revenue To Date
$537K
MRR
N/A
Revenue YTD
$58.4K
Burn Rate
$31K
Users
Total Users
350
Total Users (Past 30 Days)
N/A
Daily Active Users
N/A
Monthly Active Users
N/A
Total Paying Users
N/A
MoM Growth Users
N/A
Organic Traffic %
N/A
Customer Costs
CAC
$200.00
LTV
$3.56K
Churn
1%
Margins
N/A
Go-To Market Strategy
Business Strategy
Our go-to-market strategy is a multipronged approach, targeting independent pharmacies through both unconventional and traditional marketing methods.
We've found that fax marketing, has been quite cost effective. By leveraging super inexpensive outbound fax marketing, we've been able to reach a broad audience and drive traffic to our platform. In addition to fax marketing, we've also seen success with more traditional methods. Direct outreach, such as attending industry trade shows, conferences, and field sales, has been beneficial in establishing relationships and gaining visibility in the industry. We also employ telephone sales and appointment-based model techniques to increase our adoption rates.
Overall, the combination of these methods has proven to be successful. We've seen a consistent increase in platform sign-ups and user engagement, and we plan to continue optimizing these strategies to further extend our reach in the market.
Our primary competitor in the pharmaceutical space are indirect competitors such as traditional drug wholesalers and return solutions companies. Our primary competitor is another platform that offers inventory marketplace services like ours, MatchRX.
MatchRX is a national online marketplace for independent pharmacies to buy and sell overstocked prescription drugs. While they have established a network, they are limited in their scope as they only deal with the resale of overstocked drugs.
None provide the comprehensive, data-driven solution that we do. Our use of real-time data analytics, predictive demand forecasting, and intelligent matching algorithms sets us apart. This innovative technology not only helps pharmacies sell their excess inventory but also provides them with valuable insights that aid in future purchasing decisions, thereby optimizing their entire supply chain process. Our goal is not just to create a marketplace, but a platform that empowers pharmacies to make smarter inventory decisions and ultimately improve their financial health.
We are open to meeting up to grab a coffee, or just to chat.
We would really enjoy your feedback and insight into our venture and would be happy to discuss anything that you are currently working on to see if we can be of service!