Alto Pharmacy Revolutionizes Healthcare Industry with Digital Solutions
In a bid to transform the pharmacy experience, Alto Pharmacy has leveraged digital solutions to improve patient care, streamline medication access, and lower costs. According to Karen Martell, vice president of enterprise partnerships for Alto Pharmacy, the company's business model aims to raise adherence rates by eliminating barriers associated with traditional pharmacies.
Martell explained that what began as two founders hand-delivering medication to patients has evolved into a full-service, digital pharmacy that has served over 500,000 patients. The company recently launched Alto Technologies, its enterprise services offering, which provides tailored technology solutions to pharmaceutical companies, digital health providers, and others across the industry.
Alto Technologies combines pharmacist expertise with automation and artificial intelligence (AI) to drive efficiencies at every point of the pharmacy value chain, from hub or patient services to dispensing and delivery. Martell believes that this technology can transform the industry by lowering costs and improving outcomes.
Tech-Powered Transformation
The healthcare industry is struggling with outdated processes, resulting in significant financial losses. A recent report by PYMNTS Intelligence reveals that 84% of healthcare organizations have lost money due to inefficient accounts payable processes, with an estimated $935 billion wasted each year.
Paper-based billing is hindering revenue cycles, causing collection delays and preventing the adoption of digital payment solutions. Healthcare organizations are turning to partnerships and companies like Alto Pharmacy to bring automation and digital streamlining to their payment systems.
Alto's approach revolves around digital engagement, using advanced technology to optimize pharmacy operations and enhance patient care. Martell said that artificial intelligence plays a key role in the company's digital strategy, enabling pharmacists to manage complex decision-making tied to dispensing medications.
Patient-Focused Technology
The Alto Pharmacy app allows users to schedule deliveries, communicate with pharmacists, and track their prescriptions. The company has a patent pending for its AI pharmacist assistant, which streamlines decisions, aiding pharmacists in their work.
"For example, 40% of prescriptions are ready for delivery within just two minutes of receiving them, and 75% are ready within one hour," Martell said. "This rapid response time is a result of our technology-first approach, which includes the use of AI, machine learning, and advanced data analytics to optimize the pharmacy workflow."
Transparency and Efficiency
Alto Pharmacy has improved prescription processing by automating manual tasks, introduced digital tools like its patient app and provider portal, and leveraged a database of coupons and assistance programs to find the best prices for patients. The company's focus is on providing more transparency across the various players in the industry.
"Pharmacies sit at the intersection of patients, doctors, insurance companies, and drug manufacturers," Martell said. "There are a lot of silos, a lack of transparency, and poor communication, resulting in a negative experience for patients and hassle for providers."