Business to Business Healthcare is the process of healthcare organizations and/or healthcare providers collaborating to increase business with consumers and patients alike and to provide them with the best services possible. It involves leveraging a collective group of channels, both traditionally and digitally, to improve patient care and generate growth and revenue.
The consumer-health industry is booming, driven by an aging population, a proliferation of wellness-related products and services burgeoning sources of health-related information, and consumers’ desire to control their health.
However, an increasing number of smaller, niche players entering the market, digitization, price transparency, regulatory changes, and consumer value consciousness underline the need for change.
Making it crucial that healthcare organizations looking to keep up in this rapidly changing environment will need to adjust their innovation cycles and develop a deep understanding of their consumer base to create a unique value proposition and stand out from competitors.
If organizations can spread their positive influence faster than the spread of the next mutated variant, then humankind is well on its way to protecting itself from the next global health crisis.
NICHE TO MAINSTREAM
It’s undeniable that the healthcare sector is increasingly expanding, which makes it especially attractive in terms of investment for both B2B and B2C. While other sectors generally follow market trends, showing phases of expansion and contraction, healthcare always manages to position itself against the trend to guarantee stable growth and insignificant loss regardless of the phase.
For this reason, it’s not surprising to know that the sector is valued at about $4.2 trillion, and is growing at a rate double that of the rest of the world economy, which stands at 3.6% per year.
Truepill, the company transforming consumer health care by powering first-in-kind B2B digital pharmacy experiences, announced a $142 million fundraising round.
The new funding will be used to position Truepill to invest in serving the needs of its existing customers, driving operational excellence, and creating future growth for the company.
Truepill is targeting healthcare incumbents like health payers, providers, and employer groups after developing a network of telehealth, diagnostics, and pharmacies for consumers.
Founded in 2016, Truepill’s expansive suite of B2B solutions includes nationwide prescription fulfillment and delivery, white-label packaging, and product design.
Truepill powers the future of consumer healthcare by enabling customers to deliver modern, digital-first pharmacy experiences at scale.
Truepill enables its partners to deliver convenient and accessible care and provides the building blocks needed to launch and scale world-class healthcare experiences.
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