SALT LAKE CITY, March 24, 2015 /PRNewswire/ — VendRx Inc., a provider of the first fully configurable in-office physician dispensing solution, today announced its first patent has been issued by the U.S. Patent and Trademark Office. In 2014, VendRx successfully built and deployed its first automated dispensing system that seamlessly delivers prescriptions to patients in California. The next generation system is scheduled for deployment in the second quarter of 2015. VendRx has been under development for 4 years and is currently in the final stages of testing.
“With VendRx, physicians will be able to better serve their patients while generating additional revenue with no added labor costs,” said Trent Jefferies, CEO at VendRx. “Our patented solution eliminates physician storage and handling of prescription medications and the associated labor and security risks. We customize the inventory to fit the practice utilization. When the patient conveniently elects in-office dispensing, the physician electronically prescribes the medication and VendRx seamlessly handles the rest.”
Today, physician dispensing is allowed in some form in all states except for New York. VendRx is easy-to-use, physician- and patient-friendly, and provides a secure alternative to “file-cabinet” medication dispensing. “Patients and physicians appreciate the speed and convenience of VendRx. Not only will patients begin their prescription treatment more quickly, but we believe that VendRx will ultimately help improve medication adherence.”
In 2013, retail prescription drug spending grew 2.5 percent to $271.1 billion, compared to 0.5 percent growth in 2012. According to CMS,1 the faster growth in 2013 resulted from price increases for brand-name and specialty drugs, increased spending on new medicines, and increased utilization. VendRx makes lower-cost medication alternatives readily available to patients before they leave the physician office. The company also plans to explore installation of VendRx kiosks in pharmacies as a means for patients to quickly obtain recurring medications that may not require pharmacist intervention or counseling.
VendRx supplies the patented VendRx in-office physician dispensing kiosk that fully automates dispensing pre-packaged pharmaceuticals. VendRx has a sleek profile, and is designed to occupy the space of approximately two waiting room chairs. The service provides a proprietary dispensing machine that is designed with a real-time flexible formulary that fits the practice and generates transaction-based revenue with no incremental labor requirements.
President, VendRx Inc.
SOURCE VendRx Inc.