Scriptdrop.io: Incentives for medical prescription adherence

Interview with Nick Potts, CEO of ScriptDrop.

What challenge is ScriptDrop addressing?

Prescription abandonment and medication adherence.

What is the scale of this challenge?

Prescription abandonment and medication non-adherence have reached epidemic proportions costing the U.S. healthcare system and taxpayers $300B per year and worse yet125,000 lives are lost every single year. To distill that down a bit, if the $300B cost was evenly shared with all of the 313MM people in the U.S., we would each pay $958 per year. That doesn’t account for the smaller, but more important number. Since starting to track medication adherence and prescription abandonment the National Association of Chain Drug Stores (NACDS) has found, “that 20–30 percent of medication prescriptions are never filled and approximately 50 percent of medications for chronic disease are not taken as prescribed.

How does ScriptDrop turn this challenge into an opportunity?

We currently are solving these through two of our products, the first is prescription delivery.

Nick Potts

25-32% leave the pharmacy without their medication and never return. Our delivery program is integrated directly with the pharmacy system and allows the pharmacy to schedule a deliver with the click of a button. Once the patient is on therapy, 50% of the time they aren’t adherent to the medication. Because of our unique set-up with the pharmacies, we have the ability to remind the patient daily to take their medication. It is frictionless for the patient to set-up, which is different than most programs. And lastly, our blockchain will allow us to incentivize the patients, through our adherence token, to take their medication.

Can you showcase some team members/advisors which have a strong background? What is their connection with this particular project?

The team members are all former employees (some of the first) from a healthcare IT company that sold for over a billion dollars earlier this year. So executing a big vision, like this, is something they are all intimately familiar with. Additionally the advisors are from the healthcare industry including: pharmacists, pharmaceutical executives, EHR owners and also blockchain experts. Here is the full list of the team and advisors: https://www.ScriptDrop/team.html

Does ScriptDrop have any strategic partnerships?

ScriptDrop’s network is built off of strategic partnerships with pharmacies, provider programs, pharmaceutical manufacturers and courier services. Here is a breakdown:

Pharmacies: Currently we are integrated with BestRx pharmacy system. This allows us to reach multiple pharmacies with one integration. We also will be announcing other integrations and large national chain rollouts over the next few months.

Provider Programs: We are currently focused on scaling our pharmacy side of the network, however including the prescriber in the ecosystem is important. We have partnered with a company called, Updox, to do this. Updox is the leading healthcare CRM connectivity platform and allows us to let the doctor know when the patient has their medication delivered, or the patient is not being adherent. Additionally, prescribers will be able to offer our services at the point of prescribing.

Pharmaceutical manufacturers: They have a vested interest because their medications are hitting roadblocks at the pharmacy or the patients aren’t taking them as they should, so we work with them to ensure their patients are taken care of.

Courier services: We partner directly with Logistics Platforms, we can easily scale to hundreds of couriers in 42 states.

Does ScriptDrop have a viable product at this time?

Yes, we have been delivering prescriptions for over a year. The Token Sale will help us scale the med reminder side of our business while incentivizing patients. The delivery program and med reminders will help us build the network of patients.

What is the status of this product? (Alpha Beta or production)

Prescription delivery- production
Medication Reminders- Beta

How many users are actively using this product?

We are integrated with 1200 pharmacies, and rolling out two national chains by the end of this year. One of them rolling out next week.

What is the structure of the Token Sale? (Bonuses, Dates, Market Cap)



Token Profile: 1 billion tokens issued: 41% Token Sale, 7% ScriptDrop Team, 1% Advisors, 51% Patients
Our token sale will have a minimum, goal, and stretch goal. Our token price will be $.07 for the first 250MM and $.09 for the next 160MM.
Year 1 Budget (additional years can be found in the white paper: 17% Community and Expansion, 7% Operations, 31% Staffing, 3% Legal Fees, 3% Business Development, 5% Marketing, 34% Investors

What are the requirements to participate in the Token Sale?

We are going through KYC with our legal team (Cooley) now, and will make a more formal announcement as we make progress.

What are the pros and cons for the token holders?

Pros for the token holders, is that as we sign deals with the pharmaceutical manufacturers on the medication reminders, they must buy tokens to interact with their ideal patient profile. They purchase the tokens on an exchange and then give them to ScriptDrop to dispense. For the patient, they can then use the tokens to pay for their prescription co-pay at any pharmacy in the U.S. The pharmacy simply bills the transaction to the us and we respond back with the co-pay buy down amount.

Pharmaceutical companies pay for delivery and also the med reminders. Pharma is invested in making sure the patient is taking their medications on time, because it increases the likelihood they will have a higher number of refills. The data is also very important to them so they can understand the “patient journey” and make changes to their other programs or prep for additional drugs the are launching/releasing to the market.

Pharma manufacturers invest heavily in different copay programs for their strategy. Often times they have to target all of their patients, just because there is no way to really pinpoint certain patients that need it most. What our adherence profile will do is allow them to decide if they would like to purchase tokens to buy down the copay for patients that are less adherent on their drug, but more adherent on maintenance meds and they have a certain indication. Or maybe they want to reward patients that are more adherent all around.

We are integrated with the pharmacies, we know the patient’s copay and can apply the discount from the rewards program automatically in the background. It will still be the pharmacy actually dispensing the medication, but the ScriptDrop program is pinged so we can help with the copay.

I would say, the cons for the initial token holder are that we are distributing less than 50% of the total float and we will be releasing more coins into the open market as people interact with your application. Ultimately this appears inflationary, but in reality, it will most likely support the price as the pharma companies and pharmacy systems purchase new tranches of coins.

Will pharmacies accept ScriptDrop?

Yes. Pharmacies are interested in the service, but also because of the way we are set-up with them, this all can work in the background.

The pharmacy submits a claim to the ScriptDrop BIN number, that allows us to see/understand when and how to get involved.

Was there a pre-Token Sale?

No

What is the price of the pre-Token Sale and the price of the Token Sale?

Our token price will be $.07 for the first 250MM and $.09 for the next 160MM.

How many tokens will be issued?

Token Profile: 1 billion tokens issued: 41% Token Sale, 7% ScriptDrop Team, 1% Advisors, 51% Patients

Is there a cap on the Token Sale?
Minimum: $5MM
Goal: $17.5MM
Stretch Goal: $31.9MM

In which jurisdiction is the project incorporated?
Delaware

Will the project be audited and will the audit reports be fully published?
Yes

For more information visit: https://www.ScriptDrop.io/