The power-grip the insurance and pharmaceutical lobby have over today's health-industry is quite alarming.
And while politicians by the dozens- including Trump- often take public stances against big pharma, little in the way of progress actually transpires.Some specialties are hit harder than others.
Dermatology is a prime example where most medications physicians prescribe are plagued by a myriad of reimbursement issues. As a result of how cumbersome these impediments are, a shocking 70% of patients in dermatology who have a prior authorization do not get the medicine/drugs they were prescribed once they arrive at the drug store.
The drugs they are prescribed are often far overpriced or they are required to accept a substitution that could be far less effective but fits within their budget.
Given that a dermatologist’s primary means of treatment is to prescribe medicine, the fact that the majority of the time the doctor's prescriptions aren't delivered is crippling to patients’ health as well as to a doctor's efficacy.
Seeing that as debilitating to effective healthcare, Dr.Spencer Malkin- a serial healthcare entrepreneur -stepped in to create a win-win solution for both doctors and patients.
Spencer launched the manufacturing venture Sincerus Pharmaceuticals to legally manufacture tailored medicines that correlate with the highest usage needs for the patients that dermatologists treat. Further, these medications are customized based upon physician preference. Through the customization process, Sincerus Pharmaceuticals has the ability to alter potency, select the vehicle, and modify or remove the inactive ingredients found in commercially available medications that are known allergens or irritants.
In this manner, Sincerus Pharmaeceuticals was able to provide a new genre of agile, best-adapted medicines directly to doctors- who could then provide these effective formulas right on the spot- to patients.
Not only did the agile solution pioneered by Sincerus Pharmaceuticals cut out the middlemen players like wholesale distributors, PBMs, and pharmacies- making the right medicine more accessible- it also circumvented all the markups the traditional supply chain adds to the cost of medicine, making the right drugs much more affordable.
Net net, Sincerus Pharmaceuticals’ turnkey solution is a game-changer for the healthcare industry. Sincerus Pharmaeceuticals has been able to stop the negative vortex around price inflation and unwanted prescription substitutions, and its daughter companies Prescribers Choice and Sincerus Florida have been able to open thousands of accounts across the nation which carry transparency, lower costs, and more trustworthiness.
In many ways, what Spencer Malkin and Sincerus Pharmaeceuticals are doing is analogous of how Uber transformed the transportation industry and gives us tangible optimism that big pharma’s iron-clad grip over modern medicine can in fact be loosened by the right innovation.
