From Humble Beginnings to a Flourishing Future
Pharmacy Akinola Nurudeen, the CEO of Healthway Pharmacy in Ilorin, started his journey with a vision to serve his community. Located near the University of Ilorin Teaching Hospital, Healthway Pharmacy quickly became a go-to destination for patients seeking quality medications. This realization was initially exciting because that would mean constant patronage from the UITH; he was excited.
However, the initial excitement soon turned into frustration as demand outstripped supply. “We didn’t have the capacity,” Nurudeen recalls. “Patients needed full prescriptions, but we were always short-stocked.”
Imagine the disappointment for the people from UITH when they couldn’t get what they came for, imagine the patients who couldn’t receive the medications they needed, especially in a country where healthcare access is already a challenge.
Financing was a significant barrier, limiting the pharmacy’s ability to stock up and meet the needs of the community. This is a common struggle for many pharmacies across Nigeria, where over 70% of medicines are imported and the supply chain remains fragmented.
The Challenge: Outdated Pharmacies Are Losing More Than Money
The reality for many pharmacies isn’t looking so bright. By mid-year, they often find themselves grappling with issues that can lead to serious consequences, not just for their businesses, but for their patients as well.
In Nigeria and other parts of Sub-Saharan Africa, it has been mentioned that more of the deaths that occur annually are attributed to counterfeit drugs, this is according to the World Health Organization. This isn’t merely an efficiency problem; it’s a public health crisis.
Pharmacies that are not tech-enabled face significant challenges: they struggle to manage inventory, maintain accurate records, and verify the quality of the medications they provide. In this environment, the risk of financial strain is high, and the potential for losing customers and trust is ever-present. This sad thing is that most of these pharmacies are not tech-enabled and this is a problem.
Healthway Pharmacy illustrates this struggle perfectly. Dr Nurudeen experienced firsthand how limited access to financing could hinder service. Without the ability to stock necessary medications, they risked losing customers to competitors. The reality is that pharmacies stuck in survival mode are losing not just money but the trust of their communities, which can take years to rebuild.
Embracing Technology for a Brighter Future
So, what’s the way forward? As we move into the second half of the year, it’s time for pharmacies to consider how they can adapt to meet the evolving needs of their patients. The solution lies in embracing technology.
With RxPay, pharmacies gain access to essential financing, digital invoicing, and customer management tools, all integrated into one seamless platform. This means no more juggling multiple systems or worrying about cash flow. For Healthway Pharmacy, the introduction of RxPay transformed their business. With an initial investment of just ₦300,000, they could stock up adequately and serve their community without the constant worry of running out of essential medications.
This isn’t the only solution we offer; we have the RxScanner as well, which provides an innovative way to ensure the authenticity of every drug on the shelf. Many pharmacists and healthcare entrepreneurs are already jumping on this.
Using machine learning and a global pharmaceutical database, pharmacies can verify medications in seconds, reducing the risk of counterfeit products. This technology not only enhances operational efficiency but also builds trust with customers. Many pharmacists confirm that there’s been big difference in their business since RxAll stepped in. Now, their customers know we just don’t sell; we verify. That trust is everything.”
A Future Built on Trust and Innovation
Reflecting on the journey of Healthway Pharmacy, it’s clear that embracing technology has not only improved operational efficiency but also strengthened community ties. As pharmacies like Healthway transition from survival mode to thriving enterprises, they set an example for others in the industry.
The challenges facing pharmacies today are significant, but they are not insurmountable. By leveraging innovative solutions like RxPay and RxScanner, pharmacies can not only meet the demands of their communities but also build a future where trust and quality are at the forefront of the healthcare industry.
As we look ahead, let’s not wait for the next crisis to act. Together, we can create a healthcare system that empowers pharmacists and ensures access to quality medications for everyone, everywhere.
Don’t just survive when you can scale.
Don’t just stock without verifying what you are stocking on your shelves.
Join the hundreds of pharmacies transforming with RxAll.
Visit rxall.net to get started. The future is already in motion, and it’s verified.