Digital Health Has Arrived: Prixz

Q: How does the company merge technology and healthcare, and how does this benefit clients?

A: Prixz was established to facilitate access to healthcare in Mexico and beyond, as reflected in its name. The  "P" in Prixz means that we do not serve clients, but patients. "I" represents the individual and is placed at the core of our identity. Everything we do is centered around the  patient. "Z" reflects our commitment to fighting relentlessly for those who place their trust in us for their healthcare needs.

We are a technology company that chose to enter the pharmaceutical sector. We began with the most accessible segment of the healthcare chain, and are now expanding to include insurance and home diagnostic testing. At our core, we remain a technology company adept at reaching audiences and delivering health-related products.

Q: What are the main challenges Prixz faces in continuing to grow and increase its recognition in the Mexican market?

A: Our goal is to offer what no one else can. One of the challenges we face is expanding our catalog. While a traditional pharmacy typically carries 3,000 stock-keeping units (SKU), we manage 15,000. We also strive to provide competitive prices in an environment characterized by frequent price fluctuations and additional costs incurred by delivery services. Our challenge is to maintain sustainability and minimize the impact of these fluctuations on patients with chronic conditions.

To address this, we implement subscription models and adherence plans that offer free items if the patient continues their treatment. Another key challenge is accelerating delivery times. Unlike traditional pharmacies, we have nationwide coverage, with immediate delivery of many SKUs in Mexico City, Guadalajara, and the State of Mexico. Our primary goal for the next six to 12 months is to expand this rapid delivery capability to most states, aiming for delivery within minutes rather than the following day.

Q: What changes have you observed in the Mexican population that are leading more people to turn to digital pharmacy solutions?

A: If a traditional pharmacy does not have a product in stock, patients must visit several others until they find it. A platform that brings most products together can be incredibly helpful. This was especially the case during the pandemic, when there was significant product scarcity.

Growing confidence in the use of credit cards is further supporting this transition to online sales. We have observed a notable change in digital users and patients. Modern users are increasingly demanding; they not only expect timely delivery but also anticipate promotions and additional perks. This heightened expectation drives us to elevate our standards, benefiting everyone involved.

Q: How is the adoption of digital health solutions evolving across different demographics, and what impact is this having on the healthcare market?

A: The healthcare market is expected to become global within the next 13 years, with digital health comprising 18% of total sales. We are seeing a significant shift; patients over 65 years of age are increasingly using digital tools like WhatsApp and are now becoming adept at using apps. Younger demographics, who are more digitally inclined, do not have a frequent need to visit pharmacies, but this will change over time as these generations get older. We have also observed that children and grandchildren are beginning to purchase medications for their family members. 

We expect that this generational shift will accelerate, and platforms such as Amazon and Mercado Libre are significantly speeding up digital adoption in the healthcare sector.

Q: How does Prixz ensure the security of its customers’ personal and medical data, especially given the growing concerns around privacy?

A: Regulatory compliance is of paramount importance. It starts with COFEPRIS and extends beyond data protection. We invest heavily in safeguarding information and provide privacy notices that patients can access. We also allow users to make purchases anonymously. While we do require a name, phone number, email address, and a delivery address, individuals have the ability to manage and delete their data as needed. Unlike other pharmacies, we do not commercialize this data.

Our goal is to facilitate access to healthcare, and we believe that making this process as easy and favorable as possible provides a unique value. Despite our digital focus, we remain committed to adhering to all relevant regulations.

Q: What are Prixz’s plans for enhancing the patient experience, and how do you envision its role in the broader healthcare ecosystem?

A: We are dedicated to ensuring that a patient can complete a purchase with just two clicks and are working on digitizing prescriptions. Understanding patient habits is crucial, especially for chronic conditions such as diabetes. Our goal is to enhance the patient experience by anticipating their needs and integrating applicable functionalities into our application.

In the next three to four years, we aim to ensure that nearly everything related to healthcare is accessible through the Prixz app, including medications and insurance. Our app will also allow patients to find a doctor and schedule an appointment. We strive to build the Prixz Health Ecosystem, focusing on both short-term and long-term innovation.

Q: Which category is driving the most users to your platform, and what other categories would you like to introduce?

A: Chronic conditions often require lifelong management. We are focusing on improving the lives of those patients. We are developing subscription models to minimize their need to visit pharmacies. With just a click, patients will be able to manage their medication pool through Prixz.

We are also focusing on prevention. We have been pioneers in the sale of complex vitamins and dermatological products, and also offer innovative solutions such as menstrual cups, which we were the first to introduce to Mexico. We have seen a surge in demand for at-home diagnostic tests, which eliminate the need to visit a clinic and address concerns about privacy and potential embarrassment associated with in-person visits. These products are in high demand and represent an important aspect of our innovation efforts.

Q: How can private companies like Prixz support public health initiatives?

A: Public and private models are entirely complementary, as has been demonstrated in many countries. Our goal is to enhance the quality of life for Mexicans by treating illnesses and focusing on prevention. We need to foster a culture of proactive health management to address prevalent issues such as obesity, diabetes, and high blood pressure. By promoting extensive information and preventive measures, we can significantly improve societal health. 

Q: What is the biggest threat that Prixz is facing?

A: Time constantly brings the risk of obsolescence. Prixz’s internal culture emphasizes growth while maintaining the innovative spirit that got us here. It is crucial for us to stay at the forefront of technology and not become complacent. The main risk is becoming too comfortable and overly robust, which could allow new competitors to surpass us. Maintaining our innovative edge and avoiding complacency are fundamental to our approach.

The digital world has already arrived. Investing in the digital realm is not merely a future-oriented gamble. By 2028, digital purchases are expected to represent between 18% and 20% of the market. In countries like Germany, digital purchases account for nearly 50% of the market. Some see the digital transformation coming in the distant future, but it is already here.

Prixz is a leading digital pharmacy in Mexico, offering over 15,000 medications with nationwide delivery.