For the restless minds at custom-drug company Prescriber’s Choice their journey started out as an effort aimed at correcting issues that directly affected both doctors and patients across dermatology. Ultimately, they ended up developing and successfully scaling the new gold standard precedent for how medicine can be manufactured and delivered across the entire health space.
Prescriber’s Choice did what many thought was impossible: the company successfully eliminated the middlemen involved in the pharmaceutical supply chain. Wholesalers, distributors, Pharmacy Benefit Managers (PBM’s), and pharmacies have long been criticized for the unaffordable markups placed on prescription medications.. As a result of diverse formulary changes and other factors, 70% of patients in the field of dermatology who had a pre-authorization for a particular medicine (that was prescribed by their doctors) do not receive the medication that was prescribed. This creates a negative feedback loop that can have harmful consequences. Doctors are restricted from prescribing what they deem is best for the patient, and the patient may be forced into a less effective substitution or nothing at all!
Spencer Malkin- the CEO of Prescriber’s Choice- was the first to introduce a new way through his company’s Prescriber’s Choice manufacturing vehicle called Sincerus Pharmaceuticals. The goal of these companies was to democratize pharmaceutical medications. They simplify the process and empower doctors to customize the most frequently prescribed drugs, as well as the opportunity to dispense these medications at affordable prices directly from their office.
This undeniable paradigm shift ushers in a new and promising landscape where not only would patients finally be assured of the medicine they needed without hindering markups, but efficacy would be maximized since the medicines could be adapted to address specific needs.
Through this groundbreaking solution, Malkin has not only solved for one of the biggest problems facing modern medicine, he has carved a brand-new lane of customizable medicines that can be replicated in other health fields where patients require customized formulations.
According to Malkin, “Our solution has the potential to forever change the way medication is tailored, prescribed, dispensed, and purchased.”
