I agree, the MDR app does not seem to have the network effect because doctor-pharmacy-script connectivity is not there. It means that the talk of 60% of pharmacies & 12m patient reach in Aus are just metrics in their marketing rather than something tangible that they are able to leverage.
I have a pharmacy friend that uses the white label app (Terry White), and because she is concerned about loosing her patients to the cheapest pharmacy, she does not recommend the app to her patients (she prefers to advise her patients directly about diff medication & interaction). The contra is another friend that says he can't believe how cheap it is because they use it daily to inform all their patients that their medication has come in. It seem like they just use this functionality as it helps their process.
It seems to me that they have not cracked the pharmacy-doctor-patient-script links, so they are just using those people who do use the app for marketing to the drug companies.
This marketing to patients seems to be the business they have bought in the US; the US obviously is a much bigger market with a lot more prescription drugs, but it seems that most of the Adheris business was quite manual - my sense is that they are probably going to try to flog the app in the US and then leverage those patients that use it to sell access to drug companies (so bigger scale, and better economics than what Adheris currently has). I'm not overly confident that this mgmt are capable of delivering tbh, but after holding for 3 years, I'm reluctant to sell without at least seeing what the US business can achieve.
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I agree, the MDR app does not seem to have the network effect...
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