Over the past few years, the prices of healthcare products and services have quadrupled. This has led to an increase in the number of health product sellers seeking solutions that will assist them in integrating their supply chains to curb organizational spending. MonarchFx’s solution addresses this challenge by eliminating the requirement of upfront capital for the delivery of products. Further, the company offers an all-inclusive unit pricing ecosystem to ensure that no incremental fees are added to the final cost of delivery. Other unique features offered by MonarchFx include their ability to deliver products in two days or less, and the elimination of all operating costs for direct-to-consumer services and store replenishment. “With MonarchFx, health product companies can deploy an innovative and smart logistics solution focused on delivering cost-effective services with trusted, high service level performance,” explains Patipa.
MonarchFx categorizes its clientele into three segments that include companies manufacturing medical supplies, diagnostic equipment, and pharma. With the rising population of geriatric patients and the increase in chronic diseases, the medical supplies market is projected to reach $132 billion by 2022.
MonarchFx integrates the offline, online, and logistics data across a single unified supply chain to assist healthcare product sellers to fulfill their organization-specific needs
Another key focus in the company’s market strategy is the diagnostics industry wherein MonarchFx assists businesses and laboratories that offer diagnostic and analytical services to optimize their supply chain management strategies.
With regard to the pharma industry, MonarchFx further classifies the market segment into two parts—phase I and phase II. Phase I involves assisting the manufacturers of dietary supplements, vitamins, and functional foods. In phase II, MonarchFx will work with organizations that manufacture final medicines and formulations that are sold directly to the consumer. To achieve phase II, the company is enhancing its operational capabilities to meet the QC requirements put forth by the FDA. Additionally, phase II also includes collaborating with producers of bulk drugs—active pharmaceutical ingredients and other chemicals that are used in the production of medicines.
Highlighting the uniqueness of MonarchFx, Patipa explains how the company is based on three principles—awareness, credibility, and trust—in order to deliver a state-of-the-art solution to the ever-changing healthcare space. In addition, Patipa believes that today, stakeholders in the healthcare industry are reconsidering the traditional supplier-provider relationship, and MonarchFx’s innovative solution is perfectly poised to assist these investors in making the right decisions. “We constantly keep our finger on the pulse of the healthcare marketplace and strategize to deliver solutions that are based on the demands of our customers,” concludes Patipa.