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Data-Driven Growth: How The Advantage Solution Is Reshaping Pharmacy Practices Across Africa

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12 months ago

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Are you a pharmacy owner or manager who wants to grow your business and practice while providing better healthcare access to your community? Do you want to leverage the power of technology and data to optimize your operations, increase your revenue, and enhance your patient outcomes? If yes, then you need to know about The Advantage, a solution that is transforming the pharma and healthcare sectors in Africa from the bottom up.

The Problems in the Pharma and Healthcare Sectors in Africa

The pharma and healthcare sectors in Africa face many challenges, such as low profitability, poor access, and lack of data. According to the World Health Organization, Africa accounts for only 2% of the global pharmaceutical market, despite having 16% of the world’s population and 25% of the global disease burden. Moreover, the continent suffers from a shortage of healthcare workers, facilities, and equipment, resulting in low quality and high cost of care. Furthermore, there is a scarcity of reliable and timely data on the health status, needs, and preferences of the population, making it difficult to design and implement effective interventions.

Advantage Health Africa launches The Advantage to help pharmacies accelerate their businesses in Nigeria

One of the reasons for these problems is that we mostly do not perceive healthcare from the eyes of the patients. We have so far seen healthcare from our professional eyes and that is why we have not explored the boundless opportunities of the ‘consuming’ behaviour of the people we serve. As the first port of call for patients at the community level, there is a wealth of untapped opportunities embedded in collaborating with community pharmacies. Additionally, many pharmacies have not positioned themselves to optimise these opportunities!

The Advantage Solution

The Advantage Solution is a product of Advantage Health Africa, a health solution company that provides technology products and services to promote access to affordable and quality healthcare across Africa. The Advantage Solution is not a software as a service, but a solution that deals with the problems in the pharma and healthcare sectors from the bottom up by empowering community pharmacies as the first port of call for patients. It offers the following features and benefits:

Real-time management and insights for pharmacy operations including procurement, branding, staff management, sales, inventory and patient data management. The Advantage Solution helps pharmacies to automate and streamline their workflows, reduce errors and wastage, and improve efficiency and productivity.

Predictive capabilities for disease prevalence and consumer behaviour. The Advantage Solution uses artificial intelligence and machine learning to analyse data and generate insights that can help pharmacies to anticipate and respond to the health needs and preferences of their customers, as well as to identify and mitigate potential risks and opportunities.

Access to a platform for interoperability between different healthcare players. The Advantage Solution connects pharmacies to a network of other stakeholders in the healthcare industry, such as health maintenance organizations (HMOs), healthcare innovators, global funders, regulators, health and financial institutions, big pharma and distributors, and investors. This enables pharmacies to access a wider market, offer more services, and collaborate on solutions that can improve and accelerate the healthcare ecosystem.

Access to consolidated data and a stronger distribution network. The Advantage Solution aggregates data from thousands of pharmacies across Africa, creating a rich and reliable source of information that can inform decision-making and policy-making. It also leverages a robust and efficient distribution system that can ensure the availability and affordability of high-quality medicines and products.

By using The Advantage Solution, pharmacies can grow their businesses and practice, while serving multiple stakeholders in the healthcare industry.

Potential Impacts

The Advantage Solution has the potential to create a positive impact on the healthcare ecosystem in Africa, by reaching the following milestones:

10,000 Pharmacies in Africa: The Advantage Solution aims to onboard 10,000 pharmacies across Africa, creating a network of trusted and reliable healthcare providers that can serve millions of customers.

50 Million Patients’ Data: The Advantage Solution aims to collect and analyse data from 50 million patients across Africa, creating a valuable and comprehensive database that can inform and improve healthcare delivery and policy.

N2Bn Additional Revenue: The Advantage Solution aims to generate N2Bn additional revenue for the pharmacies that use the platform, creating a sustainable and profitable business model that can support the growth and development of the pharma and healthcare sectors in Africa.

AI-Powered: The Advantage Solution uses artificial intelligence and machine learning to provide smart and innovative solutions that can enhance the performance and efficiency of the pharmacies and the healthcare system.

Integrated Care: The Advantage Solution enables integrated care, by connecting pharmacies to other healthcare players and facilitating collaboration and coordination of care across the continuum.

FAQS

Is it free for Pharmacies to come on board?

Yes, it’s free. The Advantage Solution does not charge any upfront or subscription fees for pharmacies to join the platform.

How does Aha! make money from this?

Our growth is in the growth of the Pharmacies we work with. When they grow, we grow! We will be charging a tiny percentage of their revenue (1 to 2%) which can be factored to their margins.

Can the Pharmacies add more products to the Universal list?

Yes, they can. However, the products will be reviewed and approved by the Super Admin.

Is there a mobile version?

Right now, we have the web version. The mobile version will be out in the next couple of months.

Can this version be used by distributors, wholesalers etc?

For now, we are focused on the retail pharmacies. This version may come up later. For now, we simply want to plug in their API’s. However, we will be working on a value-added platform for big pharma, distributors and wholesalers to reach the pharmacies for a more structured and data-driven supply of medicines.

How do we ensure data security and privacy?

We have a robust data protection policy and a competent tech team to ensure cybersecurity. We comply with the relevant laws and regulations on data protection and privacy, and we do not share or sell any personal or sensitive data without consent.

What is our plan to penetrate the pharmacies in rural areas?

Our vision is Africa-wide. We have a robust field force and business model, positioned to take the nooks and crannies of Nigeria and Africa. We use various channels and strategies to reach out and onboard pharmacies in rural areas, such as referrals, partnerships, incentives, and awareness campaigns.

Can individuals plug in to order their medicines?

We have a solution for that, myMedicines. myMedicines is a platform that aggregates reputable pharmacies across Nigeria and delivers high quality medicine to customers through logistics and telepharmacy. It also serves as a pharmacy benefit service for health maintenance organizations (HMOs) in Nigeria. myMedicines will plug in its API backend where last mile persons can have access to the medications on THE ADVANTAGE.

In one sentence, what is our Unique Selling Point?

Our USP is creating a solution that provides access to growth, market, interoperability between different healthcare players and opportunities for retail pharmacies to accelerate their businesses and practice. We accelerate growth of Pharmacies through access to market and operational success.

Conclusion

The Advantage Solution is a game-changer for the pharma and healthcare sectors in Africa. It empowers community pharmacies to become the concierge of wellness in delivering holistic care while driving sustainability and profitability in their businesses. It also connects pharmacies to a platform that offers access to a world of opportunities for other healthcare players that will further improve and accelerate the healthcare ecosystem. If you are a pharmacy owner or manager who wants to join The Advantage Solution, or if you are a healthcare stakeholder who wants to partner with us, please sign up for our waitlist. You can also follow us on our social media handles for more updates and information. Don’t miss this opportunity to be part of the solution that is transforming healthcare in Africa. Join The Advantage Solution today!

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BIG STORY

JUST IN: Nigeria’s Inflation Rate Rises To 33.8% As Food Prices’ Surge Continues

Published

2 hours ago

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November 15, 2024

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The National Bureau of Statistics (NBS) reports that Nigeria’s inflation rate reached 33.88 percent in October, up from 32.7 percent in September.

This data is outlined in the NBS’ latest consumer price index (CPI) report for October, published on Friday.

The CPI tracks the rate of change in the prices of goods and services.

According to the NBS, the headline inflation rate in October increased by “1.18% points when compared to the September 2024 headline inflation rate.”

“On a year-on-year basis, the Headline inflation rate was 6.55% points higher than the rate recorded in October 2023 (27.33%),” the NBS stated.

“This indicates that the Headline inflation rate (on a year-on-year basis) increased in October 2024 compared to the same month in the previous year (i.e., October 2023).”

“Additionally, on a month-on-month basis, the headline inflation rate in October 2024 was 2.64%, which was 0.12% higher than the rate recorded in September 2024 (2.52%).”

“This means that in October 2024, the rate of increase in the average price level was higher than the rate of increase in the average price level in September 2024.”

  • ‘INCREASE IN RICE, YAM PUSHED FOOD INFLATION RATE TO 39.16%’

The NBS also revealed that the food inflation rate in October soared to 39.16 percent, up from 33.77 percent in September.

On a year-on-year basis, the food inflation rate was 7.64 percent higher compared to the rate recorded in October 2023 (31.52 percent).

“The rise in food inflation on a year-on-year basis was driven by increases in prices of items such as guinea corn, rice, maize grains, etc. (Bread and Cereals Class), Yam, Water Yam, Coco Yam, etc. (Potatoes, Yam & Other Tubers Class), Palm Oil, Vegetable Oil, etc. (Oil and Fats Class), and Milo Lipton, Bourvita, etc. (Coffee, Tea & Cocoa Class),” the bureau explained.

The report also highlighted that the month-on-month food inflation rate in October was 2.94 percent, showing an increase of 0.3 percent compared to the 2.64 percent recorded in September.

“The rise can be attributed to the rate of increase in the average prices of Palm Oil, Vegetable oil, etc. (Oil & Fats Class), Mudfish, Croaker (Apo), Fresh fish (Obokun), etc. (Fish Class), Dried Beef, Goat Meat, Mutton, Skin meat, etc. (Meat Class), and Bread, Guinea Corn flour, Plantain flour, Rice, etc. (Bread and Cereals Class),” the NBS added.

“The average annual rate of food inflation for the twelve months ending October 2024, compared to the previous twelve-month average, was 38.12%, an 11.79% point increase from the average annual rate of change recorded in October 2023 (26.33%).”

The report also noted that Sokoto state (52.18 percent), Edo (46.55 percent), and Borno (45.85 percent) experienced the highest food inflation in October, while Kwara (31.68 percent), Kogi (33.30 percent), and Rivers (33.87 percent) recorded the slowest increases in food inflation on a year-on-year basis.

In terms of month-on-month food inflation, Adamawa (5.08 percent), Sokoto (4.86 percent), and Yobe (4.34 percent) states had the highest rates.

According to the NBS, states such as Kwara (1.11 percent), Ondo (1.31 percent), and Kogi (1.50 percent) had the slowest rise in food inflation in October 2024.

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BIG STORY

Blackmailing Of GTCO, CEO: Court Constrained To Grant Bloggers Bail Due To History Of Being Serial Offenders

Published

3 hours ago

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November 15, 2024

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Justice Ayokunle Faji of the Federal High Court in Lagos has ordered an accelerated trial of the four bloggers charged with defaming and cyberstalking the management of GTCO (Guaranty Trust Holding Company), including its Group CEO, Mr. Segun Agbaje.

The four accused—Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami—are facing 10 amended charges for allegedly publishing false information about the company through various social media platforms.

At the resumed hearing of the matter on the 13th and 14th of November, Justice Faji also dismissed the bail applications, citing the serious nature of the alleged offences, which include charges that could lead to up to 14 years in prison.

The judge also held that one of the defendants – Precious Eze has shown the tendency to commit a similar offence again if let out as he is currently charged with a similar offence in another court and was only on bail when he went ahead to commit the alleged offence for which he is now standing trial.

Justice Faaji also highlighted the potentially destabilizing impact such actions could have on the banking sector, particularly since some of the charges involve cross-border activities on the Internet.

The defense counsel, Afolabi Adeniyi, had at the last hearing of the matter while moving an application for bail for the accused persons argued that the defendants should be granted bail on liberal terms, emphasizing that the charges were bailable and that the accused were willing to face trial.

Opposing the application, the prosecution Counsel, Chief Aribisala, SAN, urged the court to reject the bail request, highlighting the risk of the defendants absconding and stressing the need for an expedited trial.

In delivering his ruling, Justice Faji not only denied bail but also ordered an accelerated trial, underlining the gravity of the charges.

He also noted that the defendants’ actions challenged the authority of regulatory bodies, including the Central Bank of Nigeria (CBN), which had approved GTCO’s audited statements.

The matter has been adjourned until the 10th and 12th of December for continuation of the trial.

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BIG STORY

UPDATE: Friends Of Late Band Boy Insist “Overnight Beating” Led To His Demise, Not Suicide [VIDEOS]

Published

4 hours ago

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November 15, 2024

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Friends and acquaintances of the late 26-year-old Lagos-based guitarist, Lekan, have raised new concerns regarding the circumstances of his tragic death, claiming that it was the severe beating he endured, rather than suicide, that ultimately led to his passing.

Lekan was found lifeless inside his room after allegedly consuming an insecticide liquid, sniper, following accusations of stealing money from his band leader, Sam Omo-Oba.

While initial reports suggested that Lekan took his own life in the wake of the allegations, his friends believe the brutal torture he faced at the hands of his boss is to blame for his untimely death.

According to a close friend of the deceased, who spoke in a video by a social media personality “Dr. Oyinlomo Diamond”, the beating began late at night and continued throughout the following morning.

A friend of the late guitarist also mentioned that there was no Snipper in the room where Lekan was found dead.

Recall that in a video that circulated on social media, Lekan is seen denying the theft allegations while being repeatedly slapped and punched by Sam Omo-Oba and other members of the band.

Despite the physical assault, Lekan maintained his innocence, but it appeared that the torture only intensified after his refusal to confess.

 

See videos below:

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