Nov 25, 2024

By PYMNTS  | November 24, 2024  | Alto Pharmacy is changing the pharmacy experience by leveraging digital solutions to improve patient care, streamline medication access and lower costs, said Karen Martell , vice president of enterprise partnerships for Alto Pharmacy. In an interview with PYMNTS, Martell explained the company’s business model is designed to raise adherence rates by eliminating barriers associated with traditional pharmacies, whether it’s finding the time to go to a pharmacy, waiting in line, sticker shock at the cost of a medication, insurance coverage or accessing expert care. “What started as two founders hand-delivering medication to patients has evolved into a full-service, digital pharmacy that’s served more than 500,000 patients,” Martell said. “We also recently launched Alto Technologies , our enterprise services offering that empowers pharmaceutical companies, digital health providers, and others across the industry with tailored technology solutions that elevate the patient experience, improve medication access and delivery, and set new standards for convenience, cost, and care. “Alto Technologies combines pharmacist expertise with automation and AI [artificial intelligence] to drive efficiencies at every point of the pharmacy value chain, from hub or patient services to dispensing, and delivery,” she said. “We believe that this technology can transform the industry by lowering cost and improving outcomes.” Outdated Processes Data shows 84% of healthcare organizations say they have lost money due to inefficient accounts payable processes, and the amounts are staggering: Up to $935 billion is wasted each year, according to the study. Paper-based billing in healthcare is hindering revenue cycles, with 70% of providers saying they rely on paper, causing collection delays and preventing the adoption of digital payment solutions that boost efficiency. Healthcare organizations are turning to partnerships and companies to bring automation and digital streamlining to their payment systems. And as healthcare businesses begin to get their financial houses in order, technology — like what Alto embraces — also can help ease the healthcare system for consumers. Technology at Its Core Founded in 2015, Alto’s approach revolves around digital engagement , using advanced technology to optimize pharmacy operations and enhance patient care. “Alto has long had technology at our core,” Martell said. “We rebuilt the technology that powers pharmacy, introduced a patient app when that wasn’t the norm, and enabled providers to see what happens after they write a prescription. We also automated historically manual and costly workflows, like billing and intake, to improve speed, creating an industry-leading patient experience.” Artificial intelligence plays a key role in the company’s digital strategy, Martell said. “Alto’s AI pharmacist assistant has a patent pending and helps pharmacists manage complex decision-making tied to dispensing medications, from prescriber validation to drug safety,” she said. “We have trained this model on our proprietary data set of millions of dispensing data points collected over the last nine years from Alto patients. This tool streamlines decisions, aiding pharmacists in their work.” By focusing on technological improvements, company officials plan to meet demand for accessible, efficient pharmacy services, Martell said. “For example, 40% of prescriptions are ready for delivery within just two minutes of receiving them, and 75% are ready within one hour. This rapid response time is a result of Alto’s technology-first approach, which includes the use of AI, machine learning, and advanced data analytics to optimize the pharmacy workflow.” Leaning Into Tech Alto’s patient app allows users to schedule deliveries, communicate with pharmacists, and track their prescriptions, Martell said. Alto Pharmacy was founded to address inefficiencies in pharmacy management software, which had slow processing, lacked actionable data, and required extensive manual effort, leading to the creation of technology that improved care and patient experience, she said. “Pharmacies sit at the intersection of patients, doctors, insurance companies and drug manufacturers,” she 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, who can spend three to five hours a day dealing with pharmacy-related issues. We knew that we needed to provide more transparency across the various players in the industry.” Alto Pharmacy, Martell said, improved prescription processing by automating manual tasks, introduced digital tools like a patient app and provider portal, and leveraged a database of coupons and assistance programs to find the best prices for patients. “Alto always focuses on the patient behind the prescription,” she added. “We look for the best possible price for each patient’s medication. Patients can message our on-call team of pharmacists in the Alto app seven days a week for personalized support. Alto is [working] with industry partners to leverage our technology for the benefit of millions of patients, while lowering costs in an industry that is struggling with pharmacy closures and high costs.”