Genius Rx will leverage QKD's expertise and existing infrastructure to eliminate the consumer burden of inefficient activities and coordination that still exist in getting the lowest-priced medicines, OTC products, and supplements to consumers today
Genius Rx has announced the launch of full-service, fully automated digital pharmacy (Credit: Michal Jarmoluk from Pixabay)
Digital health and supply chain entrepreneurs Randy Parker and Glenn Nussdorf today announced the launch of Genius Rx, a full-service, fully automated digital pharmacy that will use proprietary technology to make pharmacy services simple, intuitive and personal for consumers.
Parker, the company’s CEO, has more than 30 years of experience in building large-scale technology companies, including MDLIVE Inc., which delivers virtual healthcare services to more than 40 million members through a national network of 1,300 providers. Nussdorf, Chairman of Genius Rx, is CEO of Quality King Distributors Inc. (QKD), one of the largest private companies in the U.S. as ranked annually by Forbes and a distributor of pharmaceuticals and health-and-beauty products to supermarkets, drugstores, independent retailers, mass merchandisers, and online stores nationwide.
Set for a roll-out to consumers this summer, Genius Rx involves the rebranding, expansion, and automation of Boca Raton, Fla.-based Mailmyprescriptions.com, a business founded in 2015 that is one of the fastest-growing online pharmacies in the U.S. This business, which is licensed to ship products across the U.S., has received No. 1 rankings in customer satisfaction on TrustPilot and ConsumerAffairs each year of operation and is one of only 5 percent of all online pharmacies in the nation to receive Verified Internet Pharmacy Practice Sites accreditation. Genius Rx will integrate Mailmyprescriptions.com into its operations and apply the Genius Rx Pharmacy-as-a-Service (Rx-a-a-S) platform, which is comprised of an AI-powered patient engagement tool and intelligent pricing engine.
Genius Rx will leverage QKD’s expertise and existing infrastructure to eliminate the consumer burden of inefficient activities and coordination that still exist in getting the lowest-priced medicines, OTC products, and supplements to consumers today. Specifically, Genius Rx will have supply chain and logistics support from QKD and its prescription drug subsidiary, QK Healthcare, which together control 1 million square feet of accessible warehouse space in Bellport and Ronkonkoma, New York, to handle both OTC and Rx inventory.
“Our technology-powered approach to digital pharmacy is simple by default, not by exception,” said Parker. “What’s most important is that we not only have the proven capabilities to address the challenges of pharmacy access and distribution, we have the deep healthcare services expertise and understand the critical importance of personal care and empathy. This personal focus is never more critical than a time like this when we can deliver medications to an individual’s home and eliminate the need for retail pharmacy visits, playing our part in a socially responsible manner to help combat the spread of the coronavirus.”
Parker continued, “In building MDLIVE I brought together the largest payers, healthcare systems and pharmacy businesses to change the way patients received their care. But the efficiencies did not carry over into the simple activities required for a patient to fill and pick up a prescription. Glenn and I will scale Genius Rx by acquiring and integrating other businesses, calling on our expansive network of healthcare and logistics partners, and challenging the status quo with technology that we continually enhance. This is what enabled my team to build one of the largest virtual care companies and attract the best-known partners and investors.”
Nussdorf added, “Our vision is clear in changing how consumers will utilize a pharmacy platform to access their medicines, OTC products, and wellness supplements. We are building on an existing, highly regarded online pharmacy as a base and enhancing its operations through our technology and expertise. We are in a strong financial position that enables the leadership team to focus on customer engagement, innovation, and success. Genius Rx may be a new company, but it is not a start-up. I expect us to become a dominant industry-leader quickly, attract partners and help people around the country to access better healthcare services.”
Source: Company Press Release