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By Anthony Termini, Benzinga
Since Covid-19, telemedicine has been expanding significantly, with 44% of physicians using it at least weekly and 40% daily in the U.S. in 2023. The industry is seen by some as a new frontier for patient education and access to medicine and care.
The DEA Opens The Digital Door To The Telemedicine Industry
Before the pandemic, the primary way a patient would get a drug prescription was through an in-person visit with a doctor. The Drug Enforcement Agency (DEA) loosened those restrictions, allowing physicians to prescribe “controlled medications” over the phone and via video conference.
That’s been good for companies in the direct-to-consumer telehealth industry. One of the players in this business is MangoRx or Mangoceuticals, Inc. (NASDAQ: MGRX), which develops a variety of men's health and wellness products and services.
Working with Surescripts, which helps coordinate all the parties in the prescription process, MangoRx recently transitioned its telemedicine platform to a newly developed DEA-approved telemedicine operating system. The new system allows MangoRx’s third-party doctor network to prescribe and offer controlled substances. These include Prime Protocol by MangoRx, powered by Kyzatrex, an Oral Testosterone Replacement Therapy and other hormone replacement treatments.
According to Jacob Cohen, CEO and co-founder of MangoRx, the company is dedicated to “revolutionizing patient care,” and the new system enhances patient management by “offering seamless doctor visits, prescription auto-refills, and overall health management.”
MangoRx is joined in the telehealth space by companies like Hims & Hers Health (NYSE: HIMS), a San Francisco-based telehealth company; Maximus Tribe, a compound pharmaceuticals company that also offers coaching and is based in Santa Monica, California; and Nu Image Medical, a Tampa, Florida-based company that sells weight loss, hormone replacement, sexual health, and general wellness products.
Cohen argues, however, that MangoRx is setting a new benchmark for excellence in telemedicine. The company believes that the steps it is taking create meaningful competitive advantages over other companies in the space.
MangoRx’s Digital Leap Shortens Time To Market
MangoRx, which currently offers therapy options for erectile dysfunction, hair growth and hormone replacement, intends to use the new operating system to roll out new weight loss treatment options. These include an oral dissolvable GLP-1 tablet that includes Semaglutide and Tirzepatide, the ingredients in some of the most popular prescription weight loss medicines.
The company’s new operating system helps it accelerate the ability to introduce other new product lines, the first of which is the dissolvable tablet they have branded as Slim and Trim. This brand will help MangoRx capitalize on the significant demand for GLP-1 weight loss treatments for both men and women.
MangoRx expects these products will be available to patients before the end of the third quarter and that this new addition will help it to substantially grow revenue moving forward. The company says its new operating system will enable it to respond quickly to market needs and marks an important milestone for MangoRx, representing a significant advancement in its capabilities.
Amanda Hammer, COO of MangoRx, says that the company has a “commitment to regulatory compliance and innovation” and that the new operating system’s cutting-edge technology puts it in a position to continue “revolutionizing patient care in the telemedicine industry.”
MangoRx notes that the system is fully HIPAA-compliant to ensure that all operations adhere to stringent regulatory standards. The new system includes robust security measures to protect patient data and maintain the highest levels of confidentiality.
The system upgrade accompanies a redesigned website with an improved user interface to optimize the customer experience and enhance workflows. The combination creates real-time data tracking and seamless integration that enhance operational efficiency and improve patient engagement.
Featured photo by LinkedIn Sales Solutions on Unsplash.
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