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How PersonalRx Changed Its Pharmacy Business

Utilizing technology from Parata, PersonalRx transformed its business.

We regularly speak with those in the pharmacy industry to understand how they utilize technology to change their business. This month, we spoke with the CEO of PersonalRX about how Parata’s ATP® 2 machine has improved their workflow and efficiency and how their purchase was possible through the help of Americorp Financial.

PersonalRX is a tech-enabled pharmacy in New Jersey. Its primary mission is to elevate the role of pharmacy, empower patients to manage their medication therapy more proficiently and provide medications to patients in more than 40 states.

Keeping this mission in mind while existing in a low-margin business necessitated a technology solution that would help PersonalRX expand its pharmacy business but also help it keep up with growth and continue to evolve into the nation’s premier tech-enabled pharmacy.

With the help of Parata’s packaging solution and internal design experts, PersonalRX is excited to announce that, as of this month, it has been able to commence production in its new 9,200+ square foot pharmacy, which was uniquely designed to optimize pharmacy production.

When we asked Lawrence Margolis, CEO of PersonalRX, why the company chose Parata’s ATP 2 solution, he said, “We are in a low-margin business. We consider ourselves to be a tech-enabled pharmacy. Anything we can do to make our process more efficient, not just on the technology side, but physically more efficient in our workflow, is a huge plus for a pharmacy.”

Margolis said the ability to customize medication packaging to meet the unique needs of the “growing and diverse population” that PersonalRX serves was a big plus.

The fact that we can label packages with Spanish language and comfort our patients whose primary language is now reflected on their medication packaging — that’s the type of pharmacy product we’re especially proud to produce. Obviously, pharmacy-specific equipment requires considerable capital, and with Americorp Financial’s help, we were able to implement the full suite of TCGRx services without a prohibitive initial capital outlay.

Partnering with Americorp Financial, pharmacies are provided with seamless and flexible finance solutions that are specifically designed for them — a very different approach from standard finance programs. With the opportunity to customize their equipment leasing programs, pharmacies can choose the option that’s right for them, such as a deferred payment program, no down payment required or a flexible finance term (30 days to 84 months).

Learn how ATP 2 can help you change your business.

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