Business

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

Published

1 year ago

November 24, 2023 3:45 pm

BodexNG

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!

Business

Ghana’s inflation rises to 23.8% — highest in eight months

Published

18 hours ago

January 9, 2025 2:34 pm

BodexNG

Ghana’s consumer inflation rate rose for the fourth consecutive month to 23.8 percent in December 2024.

Samuel Kobina Annim, government statistician at the Ghana Statistical Service (GSS), announced the figure to journalists in Accra on Wednesday.

Ghana’s inflation rate started rising in September last year, when it rose to 21.5 percent, then climbed further to 22.1 percent in October and 23 percent in November.

Annim said the inflation rate recorded at the end of last year was the highest in eight months.

“The rate of inflation… is the third highest in the last 13 months and highest in the last eight months,” Annim said.

Also, food inflation saw a significant jump, rising from 25.9 percent in November to 27.8 percent in December.

Annim attributed the increase to the contributions from specific food items, such as yams, showing drastic year-on-year price hikes of 63.3 percent.

He also highlighted the need for a dual approach to tackling inflation, addressing both monetary and real-sector issues.

“We do emphasise that there are two perspectives in addressing inflation. One is the monetary side… and the other is the real side, with what we’ve seen with food inflation, more particularly the food that we consume, that are locally produced,” he added.

Annim urged policymakers to focus on production, value chains, transportation, warehousing, and reducing post-harvest losses to stabilise food prices.

“Policymakers put in diverse interventions, rather than focusing on, let’s say, only exchange rate or focusing on just some selected items that do not cover the variety of food items that influence food prices,” he said.

Business

Governor Sanwo-olu signs N3.366trn 2025 budget

Published

18 hours ago

January 9, 2025 1:58 pm

BodexNG

Lagos State Governor, Babajide Sanwo-Olu, on Thursday, signed the 2025 appropriation bill into law.

The Special Adviser on Media and Publicity to the Governor, Gboyega Akosile, made this known in a post on his X handle.

He said the budget size is N3.366 trillion meant for the continuation of the great works of the Sanwo-Olu administration.

Business

Italy extends work visa for skilled workers for 2025

Published

21 hours ago

January 9, 2025 11:18 am

BodexNG

Italy is taking steps to address its significant shortage of skilled workers by keeping its Work Visa for Highly Qualified Workers program open for 2025.

The country, which is known for its rich culture, food, and history, has faced increasing demand in sectors such as IT, healthcare, and green energy.

These industries are crucial to Italy’s economic growth, and the government is working to meet these demands by attracting foreign talent.

Italy is making considerable efforts to improve its labour market by introducing a series of policy changes to simplify the visa application process, DAAD Scholarship reports. The country’s Work Visa program is designed to bridge the gap between the available talent and the growing need for highly skilled workers.

Italy’s work visa aims to address skill shortages

The Work Visa for Highly Qualified Workers aims to address the skill shortages in key sectors, including information and communication technology (ICT), healthcare, and renewable energy. By opening its doors to foreign professionals, Italy hopes to fill critical positions that are difficult to staff with local workers.

This program is expected to boost the economy by bringing in skilled professionals who can contribute to sectors vital to Italy’s long-term economic stability.

The visa allows skilled workers to live and work in Italy while helping the country meet its industrial needs. In 2025, the visa is seen as a way to attract experts from around the world who can fill gaps in sectors where there is a high demand for specialized knowledge and experience.

Key changes to Italy’s work visa policies for 2025

Significant changes have been made to the Italian Work Visa policies to streamline the application process and ensure faster processing times. One of the major updates is the increase in quotas for non-EU workers.

Last year, the Italian government raised the quota for work permits from 151,000 to 165,000. This adjustment reflects the increasing need for foreign workers across multiple sectors.
Another notable change is the introduction of digital processes to simplify the visa application. By March 2024, the Italian government implemented digital contracts and the use of certified email (PEC), which have reduced the need for in-person visits to immigration offices.
In July 2024, Italy also revised its EU Blue Card requirements, lowering the minimum work contract duration from 12 months to six months. Additionally, the salary threshold was adjusted to fall between 1 and 1.6 times the average gross salary in Italy.

The introduction of sector-specific permits for healthcare roles also occurred in October 2024. An additional 10,000 permits were introduced for family and social healthcare assistance positions to meet the growing demand in the healthcare sector.

Streamlined application process for 2025 work visa

The new application process for the Work Visa for Highly Qualified Workers in 2025 is designed to be faster and more accessible. The digital system allows employers to pre-fill applications for their workers, saving time and reducing paperwork.

The application process is simplified, with designated “click days” for submission, including February 5th, 7th, and 12th, 2025, depending on the applicant’s category, reports inform.

Once an application is submitted, both the employer and the applicant will be notified of the decision within a specified timeframe. Digital contracts and integration agreements also reduce the need for physical paperwork, further speeding up the process.

High-demand sectors for Italy’s work visa program

The Italian Work Visa for Highly Qualified Workers targets skilled professionals in several key sectors. These include:

ICT: Software developers, data analysts, AI specialists, and cybersecurity experts are highly sought after.
Healthcare: Nurses, physiotherapists, caregivers, and healthcare assistants are in demand.
Green Energy: Engineers focused on renewable energy are needed to help Italy meet sustainability goals.
Construction: Skilled laborers, engineers, and project managers are sought to address Italy’s infrastructure needs.
Hospitality: Chefs, hotel managers, and tourism professionals are needed to support Italy’s vibrant tourism industry.

Where to find jobs with visa sponsorship in Italy

For those looking to apply for the Work Visa for Highly Qualified Workers, several job portals can help candidates find employment in Italy. Some popular websites where job seekers can find roles with visa sponsorship include:

The program offers a valuable opportunity for professionals in high-demand sectors to contribute to Italy’s economy and enjoy living in one of Europe’s most attractive countries.

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others