By Samantha Denefrio, PhD
What is it?
Capsule is an alternative to the traditional pharmacy and call themselves the “pharmacy of the future.” They use technology to make managing your prescriptions safe, quick, and almost effortless.
On the web or using the app, you fill out a form to request your prescription transfer from your brick and mortar pharmacy to Capsule. Then, you are all set to receive your first delivery. From that point on, Capsule manages all of your prescriptions and communicates with your doctor and insurance company.
With the advent of the Affordable Healthcare Act, more American than ever are insured and that has directly impacted the growth of the US pharmaceutical industry (Harvard). With this growth comes an opportunity for easier access to prescription medications. However, Capsule reports that up to 52% of prescriptions are never picked up from traditional pharmacies and that as many as 4 of 10 people have to return to their pharmacy because their medication is out of stock (Capsule). For ill, elderly, and homebound populations, a trip to the pharmacy is not an option.
Capsule is addressing these statistics head on. They will confirm receipt of a prescription within one hour and deliver anywhere in NYC within two hours Monday through Friday from 8am to 10pm and Saturday or Sunday from 10am to 6pm.
Why is it innovative?
Capsule delivers your medications right to your door when you need them within hours of when you request them. This is particularly important for individuals unable to travel to their neighborhood drugstore due to sickness and or a disability. The company also takes the guesswork out of working with insurance companies and you always have direct access to a pharmacist for any questions or concerns via text, chat call, or email.
There is no additional cost to using Capsule, you are just responsible for your .co-pay. Although some local pharmacies and chains have delivery options, they are often accompanied with a fee.
“We believe a pharmacy can be focused on caring. Does that sound crazy? It shouldn’t. And that’s why we’re dismantling the old pharmacy and completely rebuilding it. We believe the pharmacy can work for the people. All people. That includes patients, doctors and insurers.”
Total $70 M
August 2018 Series B $50 M
Thrive Capital, Alrai Capital, Sandy Cass, Glade Brook Capital Partners, 7 Global Capital
May 2017 Series A $20 M
Virgin Group, Thrive Capital, Sound Ventures, Palm Drive Capital
Facts Sheet and Details (Crunchbase)
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