PharmEasy is a well known and reputed company which is developing a health care delivery platform hastily. And It helps patients to stay connected with various local pharmacy stores. And Data and technology have driven health ecosystems. The company tells you to upload a prescription and then the prescription is sent out to the drugstore in your vicinity. The company uses a mobile app and web technology to get access with the best health care products possible with the most attractive discounts that they can provide to the customers. The PharmEasy is one of the most successful healthcare startups in India. With over 150 partner vendors, PharmEasy is currently delivering medicines in 710 cities, including Delhi, Mumbai, Ahmedabad, Kolkata, Pune, Jaipur, and Bengaluru.
Trust is very important factor in this sector. After the prescription reaches the drugstore. The delivery agents follow the laws and collect the medicines from the validated stores. Then the order is dispatched. It gets packaged and you get your product to your doorstep . the Founder of the company, Dharmil Sheth with his doctor pal Dhawal Shah came up with an idea of building up a pharmacy startup company. This was the way of an idea popping up their minds and this is how the company started in the year 2014. Presently, the company delivers nearly 98% of the pin codes across India.
Business model and strategy of PharmEasy
The company started a journey in the year 2014 by delivering genuine products with cool discounts. Today it’s a long chain of supplying products all over India. Of course, the company confronted challenges. The company is heading towards massive growth. It’s a big thing for a startup company like theirs. It’s growing at 4x year – on – year which is having the possibility of reporting a revenue of Rs. 450 crores. Unbelievable! From the year 2014, both men – Shah and Sheth are playing a big role from behind the scene.
They sold medicines, health care products, etc to all local pharmacies possible through a digitized platform. There is no shortcut to success. Success will always be waiting at the end of the long way we need to plan accordingly, perform the righteous thing in order to accomplish growth which will lead the company towards success.
Motivational message and self motivation
According to Dr. Dhaval Shah “Fail, if you have to, but fail fast, learn and come back. “Customer is our king and as far as we ensure that we take care of them – there is no going back.” Statement of Dharmil Sheth
The success story of PharmEasy is indeed an inspiring one. Two like-minded ‘Brainiacs’ who want to improve the world; a perfect solution to a nationwide problem; and, a relentless urge to continually innovate. What could stop a combination like that from making waves? PharmEasy working as a different Sector like Fashion, accessories, electronics, apartments, vehicles – everything is sold online for convenience, but there was no platform providing healthcare (pharma) delivery services to needy patients. That is what inspired us to build a platform which would make authentic healthcare services accessible, affordable and available to all,” says Dharmil, co-founder of PharmEasy.
But, it just like every other success story, PharmEasy experienced its share of troubles that the founders overcame with intelligence, grit and determination much beyond their 30 years of age. And here is the” Lack of support from the regulators was one of the significant challenges faced by us,” reminisces Dharmil, who informs that the firm is regularly engaging with concerned regulatory bodies at every level to actively suggest modifications to old laws governing online platforms in the healthcare sector.
Customer mind-set analysis is very important and it was another significant impediment faced by the start-up . on that time when PharmEasy was conceived, medical teleconsultations and medicine home delivery were unheard of. Besides, educating patients about the importance of purchasing only prescription-based drugs was a time-consuming exercise. Meanwhile the PharmEasy entered into a partnership with Brand Capital, the strategic arm of Times of India Group that enabled them to create awareness about this emerging category and establish the brand ‘PharmEasy’ in the consumer mind space and thereby accelerate transactions through their app. Pharmeasy is one of the largest pharmacy aggregators in India. We help patients connect with local pharmacy stores and diagnostic centres in order to fulfil their extensive medical needs. And We believe that everyone should have access to good health.