Mednow Supports Expanded Scope of Practice for Ontario Pharmacists

Rhea-AI Summary

Mednow Inc (TSXV: MNOW, OTCQX: MDNWF) supports Ontario's new pharmacist practice expansion starting January 1, allowing pharmacists to assess and prescribe for 13 minor ailments, including UTIs and cold sores. Patients with valid Ontario health cards benefit from publicly funded services without out-of-pocket costs. This initiative improves access to healthcare and enables Mednow to expand its virtual care program, leveraging its existing Nurse Practitioner services. The company anticipates cost savings and a new revenue stream through Ontario Drug Benefits reimbursement for these services.

Positive

• Expanded pharmacist role for 13 minor ailments enhances healthcare access.
• No out-of-pocket costs for patients due to public funding.
• Increased revenue opportunities through Ontario Drug Benefits reimbursement.
• Enhanced team-based care through pharmacist-led consultations.

Negative

• None.

Ontario pharmacists can now assess and prescribe for 13 minor ailments

TORONTO--(BUSINESS WIRE)-- Mednow Inc (TSXV: MNOW) (OTCQX:MDNWF), Canada’s on-demand virtual pharmacy is supportive of the new expanded scope of practice for Ontario pharmacists.

As of January 1st, pharmacists in Ontario are now able to better support patients by assessing and prescribing treatment for 13 minor conditions. These conditions include: hives, cold sores, urinary tract infections and pink eye, among others. These services are available for patients with a valid Ontario health card. There is no out-of-pocket charge for patients as this initiative is publicly funded.

"We are thrilled to see the expanded scope of practice for pharmacists in Ontario," said Ali Reyhany, CEO and Co-Founder of Mednow. "This is a major step forward for healthcare in the province and we are proud to support our pharmacists as they take on these new responsibilities. Ontarians will now have more convenient access to treat minor conditions in a cost effective manner. We also applaud the government for implementing virtual billing codes for this clinical service in addition to in-person billing codes. Such policies go further to enhance our system with efficient and accessible healthcare for the maximum number of Canadians, especially those who are homebound for a multitude of reasons, such as the elderly,” Said Ali Reyhany, CEO at Mednow.

The expanded scope of practice for Ontario pharmacists will allow Mednow to expand its virtual care program to include pharmacist-led prescribing. The existing Nurse Practitioner led Mednow Virtual Care service has been issuing prescriptions where appropriate, ordering lab work and making referrals at no cost to Mednow patients. The interdisciplinary and digital first model of patient care has been successful in providing convenient and accessible care to our patients. Pharmacists prescribing for these minor ailments will provide not only improved team based care for our clients, but realizes cost savings in wages and open a new revenue stream into the existing built infrastructure for Mednow, who will be reimbursed under the Ontario Drug Benefits Program for these prescribing services.

This new service available at Mednow complements the recently announced pharmacist in-home medication cabinet clean up and medication review program. Mednow believes patients can receive amazing care in limited circumstances and as governments lean more and more on allied healthcare to help our stressed system, Mednow will be at the forefront of this evolution.

We are confident that the expansion of our virtual care program to include pharmacist-led consultations will greatly benefit our patients and improve access to essential healthcare services. We encourage all members of the community to take advantage of this convenient and accessible care option at Mednow Pharmacy. The 13 ailments include hay fever, oral thrush, dermatitis, pink eye, menstrual cramps, acid reflux, hemorrhoids, cold sores, impetigo, insect bites and hives, tick bites, sprains and strains, and UTIs.

Pharmacists already play a significant role in Ontario's public health system, partnering with other healthcare professionals to provide important care to Ontarians. These include medication reviews and consultations, vaccine administration and advising patients on health concerns. “I am proud that my profession of pharmacy is taking a bigger role in patient care at a time when we need innovative solutions more than ever. Kudos to the Government of Ontario for making a change that patients will feel the immediate benefit from,” said Ali Reyhany, Pharmacist and CEO of Mednow.

Minor ailments can often be managed with self-care strategies and minimal treatment or follow-up required. Pharmacists can offer timely services to patients, helping Ontarians avoid wait times.

Accessing care for minor ailments is simple and easy – Ontarians can book an appointment or speak with a pharmacist online or through the Mednow app.

About Mednow

Mednow (TSXV: MNOW) (OTCQX:MDNWF) is a healthcare technology company offering virtual access with a high-standard of care. Designed with accessibility and quality of care in mind, Mednow provides virtual pharmacy and telemedicine services as well as doctor home visits through an interdisciplinary approach to healthcare that is focused on the patient experience. Mednow’s services include free at-home delivery of medications, doctor consultations, a user-friendly interface for easy upload, transfer, and refill of prescriptions, access to healthcare professionals through an intuitive chat experience and the specialized PillSmart™ system that packages prescriptions in easy to use daily dose packs, each labeled with the date and time of the next dose.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements:

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, are forward-looking statements and contain forward-looking information.

Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that Mednow will not be successful in opening additional fulfillment centres, integrating and optimizing technologies, expanding its network of clients and partners, and other risk factors set out in the Company’s final long form prospectus dated February 26, 2021 available for review on the Company’s profile at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

This news release also contains future-oriented financial information and financial outlook information (collectively, “FOFI”) as defined under Canadian securities laws, prepared by Mednow’s management about Mednow’s reasonably estimated prospective results of operations, revenue, sales, and components thereof, all of which are subject to the same assumptions, risks factors, limitations and qualifications set forth in the above paragraphs. Readers are cautioned that FOFI are not guarantees of future performance, and should not be considered as such, since actual results may differ materially from those expressed in FOFI. Mednow and its management believe that FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgements. FOFI contained in this news release were made as of the date of this news release and is provided for the purpose of describing the belief of Mednow’’s management of the anticipated effects of the financing on Mednow’s business operations.

As a result, there can be no assurance that forward-looking information or FOFI will prove to be accurate, as actual results and future events could differ materially from those anticipated in this news release. Accordingly, readers should not place undue reliance on the forward-looking information or FOFI contained in this news release. Mednow does not undertake any obligation to publicly update or revise any forward-looking information or FOFI other than as required under applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005253/en/

Investor:

Lorraine Cardenas

1-855-686-6300

ir@mednow.ca

Source: Mednow Inc.

FAQ

What is the significance of the new pharmacist services in Ontario for Mednow?

The new services enable Mednow to expand its virtual care program, allowing pharmacists to prescribe for 13 minor ailments, thereby increasing accessibility and potential revenue streams.

When did Ontario's new pharmacist practices take effect?

The expanded scope of practice for Ontario pharmacists took effect on January 1.

How will Mednow benefit from the new pharmacist-led prescribing?

Mednow will benefit from increased patient access to healthcare services and reimbursement under the Ontario Drug Benefits Program for pharmacist services.

What ailments can Ontario pharmacists now prescribe for?

Pharmacists in Ontario can now prescribe for ailments such as UTIs, cold sores, hives, and more.