Trailblazing custom-drug company Prescriber’s Choice started out aiming to correct an issue that they saw was harmful to both doctors and patients in the field of dermatology. They ended up creating a brand new precedent for how medicine can be manufactured and delivered across the entire health space.
Prescriber’s Choice eliminated the middlemen involved in the pharmaceutical dispensing 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 formulary changes, restrictions in coverage, and the ultimate price placed on the patient in the dermatology space, 70% of patients 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 vortex. 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 facilitate the ability for doctors to customize the most frequently prescribed drugs, as well as the opportunity to dispense these medications at affordable prices directly from their office.
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.”