In an era where telemedicine is rapidly transforming the landscape of healthcare, Precision Compounding Pharmacy stands out as a beacon of innovation and excellence. Under the leadership of CEO Christian Stella, PharmD, Precision has carved a niche for itself, not just as a pharmacy but as a vital player in the telemedicine ecosystem. Xtalks spoke to Stella to learn how Precision Compounding differs from traditional pharmacies and gain insights into its unique approach to telemedicine.
A New Era of Pharmacy Fulfillment
Precision Compounding Pharmacy is not just any pharmacy; it represents the future of medicine fulfillment. “Our mission is to empower the evolution of modern medicine,” Stella notes, highlighting the pharmacy’s role as a crucial support system for telemedicine companies.
As a LegitScript-certified and National Association of Boards of Pharmacy (NABP)-accredited center, Precision Compounding supports a wide range of services. These include commercial medications, supplements and both sterile and non-sterile compounding. Its technology-driven processes ensure seamless updates in the fulfillment process, making it an indispensable partner for telemedicine companies.
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Precision Compounding Pharmacy’s Legacy
Stella’s journey is deeply rooted in the legacy of pharmacy, being a fourth-generation pharmacist. From his great-grandfather, a compounding pharmacist in Brooklyn, to his father, an entrepreneur who scaled retail pharmacies, Stella’s lineage is rich with the spirit of healthcare service.
“We took a component from all of the pharmacies that came before me and put it into an app that supports the future of this industry,” he shares. This fusion of traditional practices with modern technology not only honors his family’s legacy but also positions Precision Compounding at the forefront of the evolving healthcare sector.
Telemedicine and the Future of Pharmacy
Stella firmly believes that direct-to-consumer (DTC) telemedicine represents the future. Drawing parallels with disruptors like Airbnb, Lyft and Uber, he envisions a similar transformation in healthcare.
“[DTC] telemedicine is the future. Look at programs like Lilly Direct, and understand that big pharma will back this industry in the future,” Stella asserts, underscoring the potential for significant industry support from big pharma. This evolving landscape presents both challenges and opportunities for compounding pharmacies, pushing them toward innovation while ensuring compliance and adherence to regulations.
Navigating Changes and Challenges with Compliance
As Precision Compounding navigates the complex realm of telemedicine, Stella emphasizes the importance of compliance. “The only way we can support the growth of this industry is with a great compliance team,” he states, acknowledging the unique challenges presented by telemedicine prescriptions. This commitment to compliance and excellence ensures that Precision Compounding not only meets but exceeds industry standards.
Looking ahead, Stella anticipates significant changes in the compounding pharmacy sector, including consolidation and increased regulation. “We live in an era of compounding, where private equities are lurking,” he remarks, highlighting the dynamic shifts expected in the industry. Despite these challenges, Precision Compounding is determined to stay ahead, offering complex solutions and advocating for the compounding industry.
Beyond Traditional Compounding
Precision Compounding distinguishes itself by not directly competing with traditional compounding pharmacies. Instead, it aims to support the industry through advocacy and innovation. “Our solution is much different than most,” Stella admits, reflecting on Precision Compounding’s unique position in the market. By focusing on complex solutions and standing behind organizations like the Alliance for Pharmacy Compounding (APC), Precision Compounding is not just a pharmacy; it’s a pioneer in the field of medicine fulfillment.
Precision Compounding Pharmacy is redefining the role of pharmacies in the era of telemedicine. With a strong foundation built on a legacy of pharmacy excellence and a forward-looking approach to technology and compliance, Precision Compounding stands out as a model for the future of healthcare fulfillment. As telemedicine companies continue to grow and evolve, Precision Compounding Pharmacy will undoubtedly remain at the forefront, driving the industry towards a more innovative and efficient future.
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