Life is busy. With so many things to do every day, we’re bound to forget something, whether it be applying makeup, bringing your wallet, or grabbing breakfast. However, sometimes that inevitable forgetfulness can cause larger problems, especially in a field like healthcare. Reportedly, “prescription abandonment and failure to adhere to medication regimens costs the country $300 billion and 125,000 deaths every year“, clearly a large issue.
ScriptDrop provides prescription delivery and medication reminders to improve patient health. By creating 1 billion Adherence Tokens, ScriptDrop allows patients to determine what data is shared with other healthcare providers and pay down their prescription co-pay.
I had the opportunity to interview the co-founder and CEO of ScriptDrop, Nick Potts:
How did the idea for ScriptDrop come about?
I worked for a healthcare IT company, prior to co-founding ScriptDrop. There I worked with pharmacies across the U.S. and I found that patients were dropping off prescriptions and they weren’t coming back to get them. My immediate thought was a delivery solution would help to ease that burden for the patient. We then morphed into medication reminders and blockchain technology.
Why is ScriptDrop an improvement over something like a daily calendar?
We’re integrated into your local pharmacy, which makes it easy to onboard and we can customize your experience as a patient. We have a token sale upcoming and we’ll launch our own crytocurrency to incentivize patients to interact with our app. As the patient build us tokens, they can use those to pay down on their prescription co-pay when they get their refill. More info here:
ScriptDrop recently raised $1 million dollars in seed funding. How did you go about getting this capital?
We applied for a few accelerator type models and started building the product in parallel. We originally only raised $275K and now we’ve raised a little over $1.1MM. The second formal VC round was led by Rev1 Ventures. By the time we began working with them, we had customers and a product that was operational in NYC. I emailed hundreds of VC’s and many didn’t respond. My co-founder, Larry Scott, and I knew that we were building something valuable. We just had to convince others. That happened through continuous progress and never losing enthusiasm, no matter how many no’s we received.
Are there any habits that have kept you focused and motivated?
I listen to classical music because it has no words to distract me or I listen to the same song on repeat. Each new employee that we hire motivates me. They are another reason I want to succeed. When you feel responsible for the livelihood of others, it’s a great way to stay motivated.
What has been the most difficult obstacle you’ve had with ScriptDrop?
Getting others to think as big as I do. I think about what ScriptDrop will be in 4 years. That’s where I live. Then I have to return back to the present to get everyone on the same page. It’s not always an easy task.
To end, do you have any advice for someone starting out in entrepreneurship?
Research what you want to do, know the industry inside and out, and know your customers. Verify that you have a product that people will pay for. Don’t confirm that with free users. Will someone really pay for your product? When finding a co-founder, think of it as a marriage. You have to work long hours with that person. That relationship succeeding improves the likelihood of the company succeeding.
Don’t glamorize the leadership qualities of Steve Jobs. No one really likes a jerk. Treat your team and others nice. You’ll find that gets you further in life.
Learn more about ScriptDrop: