What's the big idea?
The cost of poor medication adherence is estimated to total as much as $289 billion annually, about 13% of healthcare expenditures. Included in this number are several barriers to medication adherence including managing multiple medications, forgetfulness, and imperfect drug regimens.
Snap Script improves adherence by monitoring for drug-to-drug interaction risk. Our app increases compliance through timely medication reminders, and solves prescription abandonment by allowing users to locate a nearby pharmacy and fill a prescription.
Describe the nearest player in your field.
There are several pill reminder apps on both the Android and iOS mobile platforms. According to Android market data, the biggest competitors are Med Minder, Dosecast, Med Helper, and Pills on the Go. Automatic pill dispensers are a substitute, however they are costly and lack mobility.
How are you different from that player?
Snap Script streamlines the data acquisition for users automatically by allowing them to simply take a picture of their pill bottles. All competitors force users to input medication data manually, which is very tedious, time consuming, and prone to error. None monitor for interaction risk.
How does this idea scale into a big business?
The number of prescriptions dispensed in the U.S totaled 3.9 billion in 2009, a 39% increase over 10 years. When a Snap Script user orders their refill they are shown price promotion ads for other items specific to the selected pharmacy.
Why are you the one to run with this idea?
I have prior work experience in the Health IT space, and have had recent success at the GreenLight Michigan Business Model Competition. For the past few months I have been testing business model assumptions out of the MSU student business incubator, the Hatch.
What is a $5,000 experiment you can do to move your idea forward?
Launch our first version release, which enables us to attract early adopters by offering a drug-to-drug interaction risk assessment of users entire medication profile, including vitamins and herbal supplements.