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Corporate Fact Sheet
THE COMPANY:
Private company founded in 1999
RxRite® point of care e-Prescribing technology gives physicians,
pharmacies and pharmacy benefit managers (PBMs) the ability to
communicate effectively for the safe, secure, electronic creation,
transmittal, and processing of electronic prescriptions.
RxRite has developed a “thin application” RxRite
Wireless™ that resides on the Always On, Always Connected®
Research In Motion® BlackBerry Wireless Handheld™. RxRite
puts its wireless e-Prescribing service directly into the hands
of physicians, without requiring computers and Internet connectivity.
THE MARKET:
Over 3.14 billion prescriptions were dispensed in the U.S. in
2002.*
Representing $187 billion in total retail prescription sales.*
The market for mobile physician software and devices is expected
to grow from $21.4 million in 2001 to $1.6 billion by 2007.**
RxRite will capitalize on this emerging, high-growth market with a transaction
and sponsor-based revenue model. *NACDS; **Forrester Research
COMPETITIVE STRENGTHS:
Proprietary web-based and wireless technologies
Application provides for global market positioning
State-of-the-art security
Alliances and partnerships in healthcare and technology industries
Management expertise in all aspects of the business
Capacity to interface with existing and emerging systems used
by physicians, pharmacies, PBMs, insurers, and other health networks.
FORWARD STRATEGY:
RxRite is well positioned to penetrate the e-Prescribing market. The company
is working towards the following short-term milestones:
Complete technology integration with e-Prescribing networks.
Brand and market RxRite services with physician distribution channels
and technology partners.
Commercial deployment in the U.S.
Finalize strategy for a public listing.
PRODUCT ADVANTAGES:
Physicians:
Provides a secure, easy-to-use, wireless and web-based e-Prescribing
application that saves time, reduces costs and reduces potential
prescription errors.
Gives the ability to create and transmit prescription information
from the point of care or from a remote setting to the patient’s
pharmacy of choice.
Provides access to accurate “real-time” patient information
such as: prescription history, conflicting medications and formulary/drug
coverage.
Provides access to a comprehensive drug database.
Pharmacists:
Streamlines the prescription filling and renewal authorization
processes, reducing pharmacy-physician telephone calls and fax
traffic.
Eliminates problems associated with illegible hand-written and
telephone (sound-alike drugs) prescriptions.
Authenticates and verifies the prescriber, ensuring that the physician
is in fact the person who created the electronic prescription,
and that the physician is licensed to prescribe within the pharmacy’s
jurisdiction.
Patients:
Enhances the level of patient care, with increased patient information
available to the physician when creating the prescription.
Provides peace-of-mind, knowing the physician’s instructions
go directly to the patient’s pharmacy of choice.
Provides clarity of prescription and drug coverage information,
reducing potential prescription errors, drug costs and delays
at the pharmacy.
PBMs, Health Plans and Insurers:
Improves patient safety
Increases formulary compliance
Reduces health care costs
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