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ScriptDrop’s Adherence Token will incentivize positive patient behavior in healthcare, utilizing our existing programs and network of pharmacies.
Columbus, OH (September 2017)– ScriptDrop, Inc. is the innovative prescription delivery and medication reminder service that helps patients get the medications they need in a timelier fashion. This reduces abandonment for pharmacies and improves patient adherence by reminding them to take their medicine. Yesterday, ScriptDrop announced its Adherence Token Sale, to take place on November 1, 2017. The ScriptDrop Adherence token sale allows patients and other parties in healthcare to participate in solving medication abandonment issues, while improving adherence in a unique way. The Adherence Token will be used to incentivize positive patient behavior in healthcare. When the patient takes their prescription as their doctor prescribed, they unlock tokens. Those tokens can be used to pay for their prescription co-pay, when they get their refill. ScriptDrop is setup as a payer and can accept the tokens at pharmacies across the U.S.
As background, prior to founding ScriptDrop, the core team worked at CoverMyMeds, which was acquired by McKesson Corp for $1.1 billion earlier this year.
“Prescription abandonment and medication non-adherence have reached epidemic proportions costing the U.S. healthcare system and taxpayers $300B per year and worse yet, 125,000 lives every single year,” said Nick Potts, CEO and Co-Founder of ScriptDrop. ScriptDrop’s product lines help patients and their loved ones get on therapy and stay on therapy, while gamifying the solution to encourage healthy living.
The existing ScriptDrop products allows ScriptDrop to build out the patient network and adherence profiles. Potts said, “from there, we give control back to the patient and allow them to provision access to the parties of their choice. Like their doctor, the pharmaceutical manufacturers or researchers. Currently our data is being sold every day. Our solution will put us, the patients, back in control”.
The patient provisioned data access is based off of the Hyperledger framework, since patient information needs to be protected. A separate blockchain, based off the Ethereum framework, will track the token transactions.
ScriptDrop will make available 1 billion digital tokens called the Adherence Token (AHC). The current budget and token profile is as follows:
- Token Profile: 1 billion tokens issued: 41% Token Sale, 7% ScriptDrop Team, 1% Advisors, 51% Patients
- The token sale minimum is $5MM, goal is $17.5MM and the stretch goal is $31.9MM.
- The token price will be $.07 for the first 250MM and $.09 for the next 160MM.
- Year 1 Budget: 17% Community and Expansion, 7% Operations, 31% Staffing, 3% Legal Fees, 3% Business Development, 5% Marketing, 34% Investors
ScriptDrop’s Adherence Token Sale
The ScriptDrop Adherence Token Sale is scheduled to run for a little under two months starting September 2017. During this time ScriptDrop invites you to learn more about the project prior to the sale on November 1st, 2017. Visit scriptdrop.io for details.
ScriptDrop connects courier services through the pharmacy system directly, so that way the patient never has to come back to the pharmacy and it can be delivered right to their door. Those same integrations create daily medication reminders for the patient. It is simple and completely frictionless. The can latest promo video for our med reminders here or more information visit https://www.scriptdrop.io follow @ScriptDrop, or join us on Slack.
Please submit all press inquiries and interview requests to [email protected].